WA Treasurer: Public Deposit Protection Commission

Public Deposit Protection Commission

The Public Deposit Protection Commission provides security for public treasurers by protecting public deposits which exceed the amount insured by the FDIC. It also minimizes participating depositaries’ liability for defaulting institutions. No public funds on deposit in public depositaries have been lost since the Public Deposit Protection Act was created in 1969.

Rulemaking Activity:
The 2009 Washington State Legislature recently passed SHB 2061. The Office of the State Treasurer has initiated rule-making to amend and update the procedures followed by financial institutions that hold public funds in accordance with the Public Deposit Protection Act, as amended by Chapter 9, Laws of 2009.

News: Public Deposit Protection Commission Strengthens Safeguards Public Deposit Protection Commission to Recover Public Funds Notice to all Public Fund Treasurers Notice to JPMorgan Chase

Public Depositaries (Bank Listing) as of April 30, 2009
Reference Guide

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