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Bankers' bill would create state collateral pool; county staff say required local-deposit rule could cost Sedgwick County about $3 million
Summary
County finance staff told commissioners about a proposal from the Kansas Bankers Association to create a state-managed collateral pool and to require preferential treatment for local banks when public deposits are placed.
County finance staff told commissioners about a proposal from the Kansas Bankers Association and the Community Bankers Association intended to increase public deposits in local banks by creating a state-managed collateral pool and by altering procurement preferences for public deposits.
Brent, a county finance official, summarized the bill's two main components: the creation of a collateral pool managed by the state treasurer so…
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