Pledging For Public Funds
During the 2002 legislative session, a Pledging for Public Funds bill was passed changing various provisions of Chapter 12C of the Code of Iowa. In summary, this law required banks, savings and loans, and out of state banks with branches in Iowa to pledge qualifying collateral if they accept public fund deposits in excess of their capital.
The appropriate pledging and custodial forms can be obtained from the State Treasurer's web site at www.treasurer.state.ia.us
The law also requires the Superintendent's office to provide information to the State Treasurer to determine which institutions are accepting Iowa public deposits in excess of capital and therefore, required to pledge qualifying collateral.
By accepting Iowa public deposits, all institutions, regardless of charter, agree to provide the necessary information to the Superintendent.
The information for Iowa state-chartered banks is retrieved from the quarterly call reports submitted directly to this office; however, all national banks, savings and loans and out of state banks with offices in Iowa must provide the information to this office.
Required information is to be submitted using the "Electronic Submission" link under the Report Submission header. If you need assistance with your username or password, please contact Kathy Johnson at the Division of Banking (515-281-4014).
Please review our FAQ if you have any questions.
Excel electronic forms are available at the links below:
- Public Funds Report - National Banks
- Public Funds Report - Savings & Loans
- Public Funds Report - Out of State Banks with Iowa Offices
The Superintendent of Banking has set the maximum lawful rate to discourage predatory lending and promote economic activity in accordance with the provisions of Iowa Code Section 535.2(3)(a).
Public Funds Rate
The minimum interest rate that shall be paid on public funds.
If you have amendments to previously submitted information, please contact Kathy Johnson.
All national banks, savings and loans and out of state banks with offices in Iowa must provide the required information to this office. Access is provided by using the institution's username and password. If you need assistance with your username or password, please contact Kathy Johnson at the Division of Banking (515-281-4014).
The information for Iowa state-chartered banks is retrieved from the quarterly call reports submitted directly to the Division of Banking; therefore, submission of a separate public funds report is not necessary.