Guidance Document Information
| Title |
Security for Public Deposits Act (SPDA) (Link) |
| Document ID |
6926 |
| Summary |
On behalf of the Treasury Board, Treasury administers the SPDA (Sections 2.2-4400 through 2.2-4411 of the Code of Virginia). SPDA provides for a single body of law in the Commonwealth to protect Virginia public deposits held in banking and savings institutions through the collateralization of securities. SPDA requires public depositories to report their public deposit balances and collateral balances monthly to the Treasury Board. Treasury ensures compliance with the reporting and collateral requirements of the SPDA on behalf of all public depositors. |
| Effective Date |
12/15/2022 |
View document text
Posted On 12/15/2022
External Link
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| Explanation or Citations |
Link to the Operations Division page on Treasury's website. Links to documents include: Security for Public Deposits Act, Security for Public Deposits Act Regulations, New Collateral Requirements -- Effective 2/1/2009, SPDA Online Users Manual, Escrow Agent Online User Manual, Frequently Asked Questions, Monthly Listing of Qualified Banks, Qualified Escrow Agents, Annual Audit Certification Guid |
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