Depository Services

In accordance with the State Depository Board and Office of the State Treasurer Bank Policy (the "Policy") , state entities must request and receive approval from the State Treasurer prior to obtaining certain depository accounts and services. Requests for new depository accounts will be evaluated among the banks approved to participate in the OST Bank Program and any additional qualified bank requested by the state entity. Requests for new accounts and services should be submitted using the applicable form.

In addition, the Policy requires OST to evaluate state entities’ OST Bank Program accounts at least once every five years. OST Bank Program accounts will be evaluated among the state’s “primary banks.” If a bank evaluation indicates the state’s cash management policies will be best served by transitioning accounts, the state entity may be required to select a new depository institution.

Whenever a state entity opens a new account, it must execute a State Signature Card and Depository Agreement (“Signature Card”) with the depository at which the account will be maintained and provide a copy to OST along with a Bank Registry form identifying the account. State entities must also execute a new Signature Card and complete a new Bank Registry form within five business days following the occurrence of any event which causes the previous version(s) to become outdated. Please contact [email protected] for information to securely transmit a new or replacement Signature Card or Bank Registry form to  OST.