Request for Proposal: Prequalify Banking Institutions to Provide Certificate of Deposit Services for the Treasurer's Bank in Vermont Program
The Office of the Vermont State Treasurer is inviting banks to participate in a certificate of deposit (CD) program designed to support community banking and earn a competitive return on State funds. The Treasurer's Bank in Vermont Program will invest state funds on a predictable basis through CDs, via a competitive bidding process, in banks with branches in Vermont. The program is designed to be attractive to the wide range of banking institutions in Vermont, and is predicated on the belief that investing Vermont funds in Vermont, consistent with earning a competitive rate of return, is a good policy.
The Office of the State Treasurer, requests responses from banking institutions that wish to be placed on a list of eligible institutions for a competitive bid program for certificates of deposit (CDs). Responses to this request will be used to evaluate prospective candidates wishing to provide investment services for CDs, and to determine maximum levels of participation.