Two years after the program's launch on July 1, 2020, the Nebraska Bankers Insurance and Services Company's (NBISCO) Single Bank Pooled Collateral Program (SBPC) continues to add bank participants and public depositors. The 20 banks participating in the program represent 286 public depositors with $.17 billion in deposits. The market value of pledged instruments is $1.9 billion.
Participating banks enjoy the efficiency gained through their involvement with the program, rather than using the traditional method of pledging collateral.
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The program allows participating banks to aggregate their total public deposits and pledge collateral against its entire portfolio of public deposits rather than pledging per entity. Pledging to the aggregate improves efficiencies and maintains protections for public deposits.
The SBPC is overseen by the Nebraska Department of Banking and Finance and administered by NBISCO, the for-profit subsidiary of the NBA.
As the needs of banks and other entities change, dialogue with banks, regulators, auditors and public depositors continues, and the SBPC program is regularly refined to meet these needs.
To learn how your bank can experience the benefits of the SBPC program, visit the SBPC website or contact NBISCO Program Administrator Misty (Stoner) Rushing, at NEPooledCollateral@nebankers.org or 402-904-7060.