Time Certificate of Deposit Program (TCD program)

This program was established in 1973 to provide opportunity for public depositaries in the State of Washington to receive a portion of surplus funds making it available to benefit the local economy.

The Office of the State Treasurer (OST) accomplishes this through the investments in Certificate of Deposits.

• Funds are offered semi-annually (January and July) to every qualified Public Depositary in the State of Washington.
• Allocation of funds based on Financial institutions net worth.
• All certificates are issued for approximately 181 days on a 365-day basis with simple interest paid at maturity.
• The semi-annual rate will be set by OST using a bond yield calculated as 30 basis points over the current six-month Treasury Bill posting.
• All certificates will automatically renew at maturity unless notification is given in a timely manner to the OST.
• All Information about proposed CDs is available on the OST website at http://tre.wa.gov/; 2-3 days prior to rollover date.
• Response back from public depositary by fax, phone or email with any changes must be by 11:00am one working day prior to the rollover date.
• All money transaction are done via Automated Clearing House (ACH); executed by OST.
• All Certificates of Deposit will be in safekeeping at the participating bank.

If you are a new participant, contact Jill Gravatt with accepted amount and money transfer instructions. If you are an existing participant and have not notified OST of any changes; your certificate will renew automatically at the rate posted, and interest on the maturing CD and any priciple change will be taken through ACH.
Note:  if the offering amount of the Time Deposits has increased, and you wish to accept the higher amount or you have other changes, you will need to contact our office.

Kari Sample
Deposit Investment Program
Phone:  360-902-9015
Fax:  360-704-5137
Email:  kari@tre.wa.gov

Or

Jill M. Gravatt
Investment Officer
Phone:  360-902-9011
Fax:  360-704-5141
Email:  jill@tre.wa.gov

• Terms for Time Certificate of Deposit (TCD) Program

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