Reso 2026-003 Investment Policy - Laserfiche WebLink

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San Leandro Investment Policy Statement Page 4 of 18 2. Nationally or state-chartered banks. 3. The Federal Reserve Bank. 4. Direct issuers of securities eligible for purchase. A. Selection of financial institutions and broker/dealers authorized to engage in transactions with the City will be at the sole discretion of the City. B. All financial institutions which desire to become qualified bidders for investment transactions (and which are not dealing only with the investment adviser) must supply the Finance Director/Treasurer with a statement certifying that the institution has reviewed the California Government Code Section 53600 et seq. and the City’s Investment Policy. C. Selection of broker/dealers used by an external investment adviser retained by the City will be at the sole discretion of the investment adviser. D. Public deposits will be made only in qualified public depositories as established by State law. Deposits will be insured by the Federal Deposit Insurance Corporation, or, to the extent the amount exceeds the insured maximum, will be collateralized in accordance with State law. VIII. Authorized and Suitable Investments All investments shall be made in accordance with California Government Code Sections 53600 et. seq. and as described within this Investment Policy. No investment shall be made in any security that has a remaining term to maturity in excess of five years on settlement date unless City Council has granted express authority to make the investment either specifically or as part of an approved investment program. The City’s investment portfolio may include the following instruments: Bank Deposits FDIC insured or fully collateralized demand deposit accounts, savings accounts, market rate accounts, time certificates of deposits (“TCDs”) and other types of bank deposits in financial institutions located in California. The amount on deposit in any financial institution shall not exceed the shareholder’s equity. To be eligible to receive the City’s deposits, the financial institution must have received a minimum overall satisfactory rating, under the Community Reinvestment Act, for meeting the credit needs of California Communities in its most recent evaluation. Bank deposits are required to be collateralized as specified under Government Code Section 53630 et seq. The Finance Director/Treasurer, at his/her discretion, may waive the collateralization requirements for any portion that is covered by federal deposit insurance. The City shall have a signed agreement with any depository accepting City funds per Government Code Section 53649. The maturity of TCDs may not exceed 5 years in maturity. There is no limit on the percentage of the portfolio that may be invested in bank deposits. However, a maximum of 30% of the portfolio may be invested in TCDs. Certificate of Deposit Account Registry Service (CDARS) No more than 30% of the total portfolio may be invested in a combination of certificates of deposit including CDARS. The maturity of CDARS deposits does not exceed five years. Exhibit A Resolution No. 2026-003 Page 4