Loading...
r2931RESOLUTION NO. 2931 WHEREAS, under provisions of Ordinance No. 12010, Section Two adopted on June 9, 2005, the list of Approved Depositary Banks may be modified from time to time by resolution of the Board of Trustees of the District, and WHEREAS, under provisions of Ordinance No. 12010, Section Three adopted on June 9, 2005 the list of Approved Securities Dealers may be modified from time to time by resolution of the Board of Trustees of the District, and WHEREAS, under provisions of Ordinance No. 12010, Section five adopted on June 9, 2005 the list of Approved Collateral may be modified from time to time by resolution of the Board of Trustees of the District, and NOW, THEREFORE, BE IT RESOLVED that the list of Approved Depositary Banks, attached hereto as Exhibit A, is hereby approved; provided that such list may be modified from time to time by resolution of the Board of Trustees of the District. BE IT FURTHER RESOLVED that the list of Approved Securities Dealers, attached hereto as Exhibit C, is hereby approved; provided that such list may be modified from time to time by resolution of the Board of Trustees of the District. The foregoing Resolution was adopted September 16, 2010. (EXHIBIT A) LIST OF APPROVED DEPOSITARY BANKS Bancorp South M & I Bank Bank of America, N.A. Midwest Bank Centre Boulevard Bank Montgomery 1st National Bank Bremen Bank & rust Company Northern Trust Bank Carrollton Bank PNC Bank Cass Commercial Bank Pulaski Bank A Savings Bank Citizens National Bank Regions Bank, N.A. Commerce Bank of St. Louis Reliance Bank Commerce Trust Rockwood Bank Commercial Bank of Westport Royal Banks Eagle Bank and Trust Company of Missouri Saint John’s Bank & Trust Company Enterprise Bank St. Louis Bank Everbank Southern Commercial Bank FCB South County Bank The Bank of New York Fifth Third Bank The Business Bank of St. Louis First Financial Bank The Private Bank First National Bank of St. Louis (Central Bancompany) Truman Bank Founders Bank UMB Bank N.A. Heartland Savings Bank UMB Trust Lindell Bank & Trust Company US Bank Main Street Bank & Trust (Lock-Box /Firstech Pay Station Pass Through) (EXHIBIT C) LIST OF APPROVED SECURITIES DEALERS Primary Government Securities Dealers* Securities Dealers in the District BNP Paribas Securities Corp. Comerica Securities, Inc. Banc of America Securities LLC Edward D. Jones Barclays Capital Inc. First Bankers Banc Securities, Inc. Cantor Fitzgerald & Co. Great Pacific Securities Citigroup Global Markets Inc. Morgan Keegan Credit Suisse First (USA) LLC Piper Jaffray & Co Daiwa Securities America Inc. Raymond James & Associates Deutsche Bank Securities Inc. RBC Dain Rauscher Corp. Goldman, Sachs & Co. Siebert Branford Shanks & Co., LLC Greenwich Capital Markets, Inc. Stifel Nicolaus & Co., Inc. HSBC Securities (USA) Inc. Sterling Investments J.P. Morgan Securities, Inc. Stern Brothers & Co. Merrill Lynch Government Securities Inc. Wells Fargo Institutional Brokerage Mizuho Securities USA Inc. District Authorized Depositary Banks Morgan Stanley & Co. Incorporated UBS Securities LLC *Such Primary Government Securities Dealers shall be those certified as such, from time to time, by the New York Federal Reserve Bank. Current list dated April 1, 2010 (EXHIBIT E) LIST OF APPROVED COLLATERAL The securities described below are hereby designated as acceptable collateral for state funds on deposit, as required by Section 30.270 RSMo (as amended). The State Treasurer reserves the right to refuse to accept as collateral any security or securities on this list, or to request the submission of an alternate acceptable security or securities, if, in the sole discretion of the State Treasurer, the State Treasurer determines that such action will provide greater security for the deposit of state funds. The securities described below are designated as acceptable collateral for the deposit of state funds. The listing is not intended to serve as, and should not be considered as a listing of legally authorized investment instruments. 1. Marketable Treasury securities of the United States. 2. Bonds or certificates of participation (COP’s) issued by the State of Missouri with an investment grade long-term rating from one of the Nationally Recognized Statistical Ratings Organizations (NRSRO’s) or are secured by a federal agency guarantee (directly or through guaranteed loans), to include the following: a. General obligation debt securities issued by the State of Missouri. b. Revenue bonds issued by the Missouri Board of Public Buildings or Department of Natural Resources. c. Revenue bonds of the Missouri Housing Development Commission, Missouri Health and Education Facilities Authority, Missouri Higher Education Loan Authority, Missouri Environmental Improvement and Energy Resources Authority, Missouri Agricultural and Small Business Development Authority, Missouri Industrial Development Board, or State-owned educational institutions. d. Certificates of Participation issued by the Missouri Board of Public Buildings or Public Fund Commissioners. 3. Bonds or certificates of participation with an investment grade long-term rating from one of the NRSRO’s issued by of any of the following agencies: a. Any city in this state having a population of not less than two thousand b. Any county of this state c. Any school district situated in this state d. Any special road district in this state e. Bonds of any political subdivision established under the provision of Article VI, Section 30 of the Constitution of Missouri (City and County of St. Louis) f. Any of the fifty states within the United States of America (EXHIBIT E, cont'd.) 4. Debt securities guaranteed by the United States or its agencies or instrumentalities, as follows: a. Debt securities of the Federal Farm Credit System b. Debt securities of the Federal Home Loan Banks c. Debt securities of the Federal National Mortgage Association (“Fannie Mae”) d. Debt securities of the Student Loan Marketing Association e. Debt securities of the Tennessee Valley Authority (TVA) f. Debt securities of the Federal Agricultural Mortgage Corporation (“Farmer Mac”) g. Debt securities of the Government National Mortgage Association (“Ginnie Mae”). h. Debt securities of the Federal Home Loan Mortgage Corporation (“Freddie Mac”) i. Guaranteed Loan Pool Certificates of the Small Business Administration (SBA) j. Federal Home Administration insured notes (CBOs). k. Public housing notes and bonds (“project notes and bonds”) issued by public housing agencies, guaranteed as to the payment of principal and interest by the government of the United States of any agency or instrumentality thereof. l. Debt securities of the Resolution Funding Corporation (REFCORP). Collateralization margins for pass-through mortgage-backed securities, SBA pool certificates and collateralized mortgage obligations shall differ from debentures issued by such agencies. The only type of Collateralized Mortgage Obligations (CMO) that the Treasurer’s Office will accept are Planned Amortization Classes (PAC’s), Targeted Amortization Classes (TAC’s) and sequential pay classes. Furthermore, Collateralized Mortgage Obligations must have a weighted average life not to exceed five years and pass the FFIEC High Risk Stress Test. No Strips, Z bonds, Mortgage Derivatives or Zeros are acceptable. 5. Tax anticipation notes issued by any county of class one in Missouri with an investment grade short-term rating from one of the Nationally Recognized Statistical Ratings Organizations (NRSRO’s) 6. Surety bonds issued by an insurance company licensed under the laws of the State of Missouri whose claims-paying ability is rated in the highest category by Duff & Phelps, A.M. Best, Standard & Poors, or Moody’s. The face amount of such surety bond shall be at least equal to the portion of the deposit to be secured by the surety bond. 7. Irrevocable standby Letter of Credit issued by a Federal Home Loan Band possessing the highest rating issued by at least one NRSRO. 8. Bonds or certificates of participation issued by local government agencies within the fifty states provided such instruments are rated in the highest category by at least one NRSRO. The State Treasurer shall determine the collateralization margin (or “haircut”) for each security type listed above, which may change from time to time subject to market conditions and other factors, but in no event shall be greater than the maximum limits allowed by law. The current collateralization requirements by security type are provided on Attachment “A”. (EXHIBIT E, cont'd.) The total market value of collateral must be equal to or greater than the collateralization margin set by the State Treasurer of the total amount of state time deposits (including accrued interest to maturity) plus demand deposits with the depository, less the amount, if any, which is insured by the Federal Deposit Insurance Corporation, or the National Credit Unions Share Insurance Fund. All securities pledged as collateral by the depository will be held by the Missouri State Treasurer, in a segregated account. All collateral pledged must be delivered in bearer for, book-entry form, or in the case of fully registered certificates, placed into the nominee name of the custodian.