The Nebraska Department of Banking and Finance (NDBF) recently concluded the first required annual examination of the Single Bank Pooled Collateral (SBPC) Program. The Program allows participating banks to aggregate their total public deposits and to pledge collateral against its entire portfolio of public deposits rather than pledging per entity. Pledging to the aggregate public depositors balance improves efficiencies and maintains protections for public deposits. The SBPC Program is overseen by the NDBF and is administered by the Nebraska Bankers Insurance Service Company (NBISCO), a division of the NBA. Nineteen banks have joined the Program, and public deposits of 219 entities are part of the pool and secure over $1 billion for Nebraska public depositors.
To learn more about the SBPC, visit the program website or contact NBISCO Program Administrator Misty Stoner, at NEPooledCollateral@nebankers.org or 402-904-7060.