Time Certificates of Deposit

The office of the State Treasurer is putting millions to work on Main Street, Oregon, by providing funds to qualified financial institutions through the state’s Time Certificates of Deposit Program, which is part of the Oregon Short Term Fund.

Launched in 1980, the program helps to infuse capital into Oregon communities. After banks receive the money, they can turn around and make loans to Oregon businesses and families. The Treasury attempts to keep a minimum of $200 million available for the program.

The CDs are purchased in one-, two- and three-month durations. The then CDs mature, the financial institutions pay the money, plus interest, to the Oregon Short term Fund.

Only banks that do business in Oregon can participate in the Time Certificate of Deposit program. Depending on the size of the institution, individual banks can acquire as much as $15 million per month.

TCD Overview (.pdf)
General Guidelines for TCDs (.pdf)
TCD Set-rate Order Procedure (.pdf)
TCD Schedule for 2011
TCD Schedule for 2012