Ohio Admin. Code 113-40-06 - Fees
(A)
Pursuant to division (L) of section
135.182 of the Revised Code, a
public depository that selects the pledging method in division (B) of section
135.182 of the Revised Code
shall pay the treasurer of state fees in accordance with the following
schedule:
(1)
Each public depository shall pay an annual fee based on the
average month end balance of public deposits from the prior year of
participation in OPCP. The treasurer shall charge a public depository that
participates in OPCP a pro rata annual fee for each quarter that the public
depository participated in OPCP. The treasurer may charge a public depository
the quarterly pro rata amount, in full, for any participation in that quarter.
The annual fee for participation in OPCP shall be assessed in the following
cumulative tiers of average month end balance of public deposits :
(a)
The rate shall be
0.0001 (1.0 basis point ) on the first fifty million dollars in average month
end public deposits;
(b)
The rate shall be 0.00009 (0.9 basis point ) on the next
fifty million dollars (the amount greater than fifty million dollars and less
than or equal to one hundred million dollars) in average month end public
deposits;
(c)
The rate shall be 0.00001 (0.1 basis point ) on th next
four hundred million dollars (the amount greater than one hundred million and
less than or equal to five hundred million dollars) in average month end public
deposits;
(d)
The rate shall be 0.000009 (0.09 basis point ) on the
next five hundred million dollars (the amount greater than five hundred million
and less than one billion dollars) in average month end public
deposits;
(e)
The rate shall be 0.000008 (0.08 basis point ) on the
next one billion dollars (the amount greater than one billion and less than or
equal to two billion dollars) in average month end public deposits;
and
(f)
The rate shall be 0.000006 (0.06 basis point ) on
amounts exceeding two billion dollars in average month end public
deposits.
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(2)
Each public
depository that is granted a specific pledge account (SPA) at the discretion of
the treasurer pursuant to paragraph (T) of rule
113-40-01 of the Administrative
Code shall pay a fee of two hundred dollars per month for each discretionary
SPA. The treasurer shall not charge a monthly fee for using a SPA granted
because the charter for the public unit (PU) requires use of the specific
pledge method or United States federal law designates the specific pledge
method for the PU.
(3)
Each public depository that is permitted to secure
public deposits at an amount under division (B)(1)(b) of section
135.182 of the Revised Code
shall pay a fee of twenty-four thousand dollars per year.
(B)
The
treasurer shall invoice each public depository annually, in arrears, on or
around July first of each year for fees assessed under paragraph (A) of this
rule for participation in OPCP.
(C)
Each fee shall be
due to the treasurer within forty-five days from the date of invoice. The
treasurer may impose a late fee of ten per cent on any unpaid fees after
forty-five days from the date of invoice. Further, failure of a public
depository to pay an invoice may result in a cushion collateral requirement
under paragraph (G) of rule
113-40-01 of the Administrative
Code.
(D)
The treasurer, at its sole discretion, may waive any
fee imposed under this rule, including late fees.
(E)
The treasurer may
increase the fees under this rule at a rate up to the consumer price index from
the United States department of labor, bureau of labor
statistics.
Replaces: 113-40-07
Notes
Promulgated Under: 119.03
Statutory Authority: R.C. 135.182
Rule Amplifies: R.C. 135.18. R.C. 135.182
Prior Effective Dates: 04/15/2018
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
(A) In calculating the collateral percentage required at a bank account level, OPCS will require the greater of the following two calculations:
(1) The public unit negotiated collateral requirement plus the cushion collateral requirement; or
(2) The reduced collateral floor requirement plus any bank monitoring collateral requirement, any economic monitoring requirement, and any cushion collateral requirement.
(B) In calculating collateral sufficiency, the treasurer of state will:
(1) Use existing market pricing available through a reputable source to determine the collateral valuation to calculate the collateral sufficiency.
(a) The treasurer of state will share the source of market pricing.
(b) A financial institution may challenge this collateral valuation, but the treasurer of state shall make the final determination.
(2) Conduct a daily review of collateral sufficiency based upon the collateral requirement calculation and the collateral valuation.
(a) A financial institution may challenge this collateral sufficiency, but the treasurer of state shall make the final determination.
(b) A financial institution will be notified by the treasurer of state of any collateral deficiencies, and will be responsible to address the deficiencies in accordance with the operating policies.
Notes
Promulgated Under: 119.03
Statutory Authority: 135.182
Rule Amplifies: 135.18, 135.182