Welcome to the Program Administration Website


Florida's Public Deposits Program is a uniform statewide collateralization program that requires public entities to utilize, for all bank deposit accounts, banks and savings associations that have been approved by the Chief Financial Officer as qualified public depositories (QPDs).

Public funds on deposit in QPDs are protected against loss due to insolvency by: (1) federal deposit insurance; (2) the pledge of securities as collateral; and (3) a contingent liability agreement Acrobat Reader required to view this file. that allows the Chief Financial Officer to assess QPDs if the securities pledged by an insolvent QPD are insufficient.

The Program has been beneficial to public treasurers and fund custodians by relieving them of the need to maintain individual collateralization programs. Banks and savings associations have benefited through centralization and standardization of reporting and collateral pledging requirements. In addition, QPDs may be eligible to pledge collateral at a reduced level.

 


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