Public Deposit Protection Act (PDPA)

The purpose of the Public Deposit Protection Act (PDPA) is to ensure that public funds held on deposit in banks are protected in the event that the bank holding the public deposits becomes insolvent. Not all public funds held by banks are protected under the PDPA. The PDPA protects only public funds place in bank deposit accounts, which include checking, savings, bank money-market, and certificate of deposit (CD) accounts.

A list of Eligible Public Depositories can be accessed via the automated Institution Search Information System. To utilize the system, click on Find an Institution and select PDPA Eligible Depositories from the dropdown list under the category Institution Type.

PDPA Fact Sheet

Federal Register, FDIC Rules and Regulations, Deposit Insurance Coverage, Title 12, Part 330

Federal Register, FDIC Rules and Regulations, Public Unit Accounts, Title 12, Part 330.15