Time Deposit Open Account Program (TDOA)
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. The statute requires the pledging of collateral for deposits greater than the FDIC insurance coverage.
As of August 24, 2017, to the extent that the total amount of funds initially offered to all banks is not accepted by those banks, the balance of such funds shall be reoffered to any bank desiring additional funds. No one bank may receive a deposit of more than $16,000,000. For additional details, refer to Nebraska Statute 72-1263 or call our office.
Dates Available for Deposit or Withdrawal
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.
February 1, 2021
March 1, 2021
March 31, 2021
April 30, 2021
June 1, 2021
June 30, 2021
August 2, 2021
August 31, 2021
September 30, 2021
November 1, 2021
November 30, 2021
December 31, 2021
A written request for deposit must be received no later than 15 business days from the TDOA deposit date requested.
Request to change current deposit or correspondent bank
To withdraw from the program or to change the amount of the deposit, our office must receive a written request with 30 days notice.