Managing Deposit Security
The South Dakota State Treasurer acts as one of a two-member commission which supervises the insuring of all public funds. Depositories of public funds must pledge 100% of the funds to secure them. These pledged securities are secured by a custodian bank for the State Treasurer and assures the public that there will be no loss of funds in the event of failure of the institution.
Recent Meeting Notice
The Commission last met on August 23, 2019 at the Division of Banking Office, 1601 N. Harrison Ave., in Pierre. Video conference of this meeting was available at the Division of Banking Office, 1500 W. 51st St., Suite 102, in Sioux Falls.
Past Meeting Minutes
Both forms are a PDF. Please either print and complete the form or complete the form in Adobe, then email the form to firstname.lastname@example.org, or mail it to the address found at the bottom of the form.
Public Funds Pledging FAQs
If you have questions about collateral requirements or what is considered a public deposit or if your business can accept public deposits from South Dakota entities or anything in between, check our FAQs to find your answers.
Search Public Depository Liability Returns
The quarterly reports for the last four quarters are available to search by Quarter or by Depository. These reports show the bank name, location, public deposits, time and savings accounts, municipal bonds, net loans, domestic deposits, total securities, letters of credit, surety bonds, adequacy of collateral, and maximum liability. Under the column of adequacy of collateral if that figure has parenthesis around it, it means that particular bank was under pledged for that quarter.