From the funds available for investment in the Operating Investment Pool, the Council is required, pursuant to the Nebraska Capital Expansion Act, to offer each qualifying bank and capital stock financial institution in the State a time deposit open account (TDOA). Each institution is allowed up to a $1,000,000 deposit as long as they satisfy the requirements of the program. The first $250,000 of the deposit is insured either by the FDIC or the FSLIC (through December 31, 2013). The statute requires the pledging of collateral for deposits greater than the FDIC insurance coverage.
Dates Available for Deposit or Withdrawal
| February 28, 2013 | April 1, 2013 |
| April 30, 2013 | May 31, 2013 |
| July 1, 2013 | July 31, 2013 |
| September 3, 2013 | September 30, 2013 |
The deposit date shall be the last day of a month. If the last day of the month is not a working day, the deposit date shall be the next working day.
Monthly Interest Rate
| March 2012 | April 2012 |
| May 2012 | June 2012 |
| July 2012 | |
| September 2012 | October 2012 |
| November 2012 | December 2012 |
| January 2013 | February 2013 |
| March 2013 | April 2013 |
| May 2013 |
Other Information and Forms
Request a Public Funds Deposit
- Instructions
- Sample letter to request deposit
- Agreement Form (Word Version - .doc)
- Agreement Form (PDF Version - .pdf)
A request for deposit must be received no later than 10 business days from the TDOA deposit date requested.
Request to change current deposit or correspondent bank
- Sample letter to change deposit
- Sample letter to change correspondent bank
- Agreement Form (Word Version - .doc)
- Agreement Form (PDF Version - .pdf)
Changes to an existing deposit must be received no later than 10 business days from the TDOA deposit/withdrawal date.
Request to withdraw from program – 30 days notice required
If you have further questions on the Time Deposit Open Account Program, please feel free to call:
JoLynn Winkler
Nebraska Investment Council
402-471-2043