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Updates and News:
June 26, 2020
On June 25, 2020, the Indiana Board for Depositories made changes to the collateralization matrix - adding a second rating to analyze those institutions whose Bank Insight National Rating was a 33 through a 39. This second rating, the FIS Rating presented by FedFis, must have be a 3.25 or greater for the first quarter of 2020 to trigger collateralization at 50% of net public funds on deposit for these "cusper" financial institutions. All other collateral requirements remain the same as before the board meeting.
For any questions or clarification, please reach out to the Indiana Board for Depositories.
Next Board Meeting
On Monday, October 19, 2020 at 2:00 p.m.
at a virtual meeting of the Indiana Board for Depositories'
Actuarial Committee to discuss changes to the Collateral Rules
The Indiana Board for Depositories may meet in Executive Session
pursuant to IC 5-14-1.5-6.1 and IC 5-13-12-2 to discuss the financial strength of a particular institution
and the collateral requirements of particular institutions as authorized by IC 5-13-12-2(c)(1-3).
The Indiana Board for Depositories will hold a virtual Board of Directors meeting
immediately following the Executive Session.
Submitted by Ryan Locke
Deputy Treasurer of State
One North Capitol Avenue, Suite 900, Indianapolis, IN 46204-2043
Phone: (317) 232-5258 Fax: (317) 232-6650 Email: firstname.lastname@example.org