On collateral pledged to secure public deposits persuant to the Florida
Security for Public Deposits Acts, the Chief Financial Officer may require
deposit or transfer of collateral into a custodial account established in the
Chief Financial Officer's name at a designated custodian.
This requirement for Chief Financial Officer's custody shall have the following
To become approved as a Chief Financial Officer's custodian for the Public
Deposits Program, an institution must meet the definition of custodian, cannot
be an affiliate of the qualified public depository, and must be bound under a
distinct Chief Financial Officer's custodial contract. The Chief Financial
Officer's Custodial Agreement is being revised and is not currently available
through this web site.
One or more triggering events must have occurred pursuant to Section 280.041(6)
, Florida Statues.
The custodian must be a Chief Financial Officer's approved custodian.
All transactions shall require the approval of the Chief Financial
All collateral must be in book-entry form.
The qualified public depository shall be responsible for all costs necessary to
the functioning of the contract or associated with the confirmation of
securities in the name of the Chief Financial Officer. These costs shall not be
a charge against the Chief Financial Officer and may be deducted from the
collateral or income earned if unpaid.