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Bank Time Deposits and Savings Accounts: Deposits in PDPC approved banks. <br />Local Government Investment Pool: Investment Pool managed by the Washington <br />State Treasury Office. <br />C. Bank Collateralization <br />The PDPC makes and enforces regulations and administers a program to ensure public <br />funds deposited in banks and thrifts are protected if a financial institution becomes <br />insolvent. The PDPC approves which banks and thrifts can hold state and local <br />government deposits and monitors collateral pledged to secure uninsured public deposits. <br />Under the act, all public treasurers and other custodians of public funds are relieved of the <br />responsibility of executing tri-party agreements, reviewing pledged securities, and <br />authorizing additions, withdrawals, and exchanges of collateral. <br />D. Prohibited Investments <br />i. The City shall not lend securities nor directly participate in a securities lending or <br />reverse repurchase program. <br />ii. The City shall not invest in mortgage -backed securities. <br />iii. The City shall not invest in Equities <br />iv. The City shall not invest in Cryptocurrency <br />City of Tukwila Investment Policy 2025 Page 11 of 18 <br />15 <br />