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Qualified Public Depositories

Two of the major characteristics of financial institutions, as defined by s. 280.02, Florida Statutes, are that they accept funds for deposit and use those funds to make loans or other investments. Many financial institutions are interested in increasing the amount of funds on deposit at their institution and the public funds market is a key area in which they can do so. In order to accept Florida public funds for deposit, a financial institution must have status as a qualified public depository ("QPD"). A QPD is defined as a financial institution that has:

  • A branch office(s) authorized to receive deposits in Florida,
  • Has deposit insurance,
  • Meets the requirements of Chapter 280, F.S., and
  • Been designated by this office as a QPD.

 QPD status is achieved by filing the required application materials with BCM and meeting certain financial condition standards.

Currently Designated Qualified Public Depositories

Please view the topics below for further information: