Official custodians for public units and entities that fall under Colorado's Public Deposit Protection Act are required to apply to the Division of Banking for (an) identification number(s) for any monies in bank deposit accounts.
Some official custodians may not have applied for or ever received a number. Changes that have occurred since the issuance of numbers may not be reflected, unless the Division of Banking was notified. Eligible public depositories should report to the Division all public funds placed in deposit accounts, even when a PDPA number has not been issued. When the Official Custodian Identification Number(s) have been obtained, the custodian will provide each eligible public depository, in which funds are deposited, with the assigned identification numbers.
Please contact the Division of Banking at 303-894-7575 if you have questions regarding the numbers or would like us to update the information for the public unit or entity for which you are the official custodian.
Effective April 3, 2015, account descriptions for PDPA Custodian Identification Numbers have been updated to reflect the FDIC insurance coverage of government depositors.
- PDPA Numbers previously assigned a noninterest-bearing description are now for demand deposit accounts
- The term "demand deposits" includes interest-bearing and noninterest-bearing demand deposit accounts.
- PDPA Numbers previously assigned interest-bearing numbers are now for time and savings deposit accounts
- The term "savings deposits" includes time/certificates of deposit, savings, NOW and money market accounts.
Notices of Assignment of Official Custodian PDPA Identification Numbers issued prior to April 3, 2015, will not reflect the update to the account descriptions, but remain valid. Banks and official custodians should retain the original notice of assignment and reference the list below for the use of the appropriate number.