Access to Capital and Invest In Illinois Daily Rates

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The Treasurer's Office does not fund programs the last three business days of the month, rates for the individual programs are not available at this time. Please contact Time Deposit at 866-458-7327 or investinillinois@illinoistreasurer.gov.

 

Program Details for Invest in Illinois – Ag Invest, Business Invest, Community Invest (excluding Community Invest: Cannabis Banking Services and Business Invest: Illinois Small Business COVID-19 Relief Program)

  • Fixed term rates to reset on the 1st calendar day of the month.
  • 1-year, 2-year, and 3-year fixed terms available, exception Ag Invest- Annual 1-year term.
  • $15mm max per program per financial institution.
  • $35mm max per financial institution.
  • No more than $25mm total daily deposit draws per day by all financial institutions.
  • Utilization of Ag Invest: Annual program will not count towards program limits on each financial institution.
  • Utilization of Ag Invest: Annual program will not count towards total daily deposit draws
  • Deposits allocated to financial institutions shall be no more than 10% of institution’s deposits.
  • Collateralized in accordance with our prescribed guidelines.
  • Rates associated with longer-dated deposit terms shall be equal to or greater than shorter-term deposit term rates, whichever is greater.

 

Community Invest: Cannabis Banking Services

  • Rate shall be the spread representative of the current Federal overnight Excess Funds rate minus 64bps.
  • Variable monthly rates, reset on the 1st calendar day of the month.
  • 2-year variable term available.
  • Utilization of Community Invest: Cannabis Banking Services program will not count towards program limits on each financial institution.
  • Utilization of Community Invest: Cannabis Banking Services program will not count towards total daily deposit draws.
  • Deposits allocated to financial institutions shall be no more than 10% of institution’s deposits.
  • Collateralized in accordance with our prescribed guidelines.
  • Deposits are available in $5mm increments but shall not exceed $50mm.

 

Business Invest: Illinois Small Business COVID-19 Relief Program

  • Rate shall be fixed at 0.01% (0.0001) for the 1-year term of the deposit.
  • If the term is extended, the rate may reset.
  • 1-year variable term available. After the initial 1-year term, renewal options must be agreed upon by the Treasurer and may include a rate reset.
  • Utilization of Business Invest: Illinois Small Business COVID-19 Relief program will not count towards program limits on each financial institution.
  • Utilization of Business Invest: Illinois Small Business COVID-19 Relief program will not count towards total daily deposit draws.
  • Deposits allocated to financial institutions shall be no more than 10% of institution’s deposits.
  • Collateralized in accordance with our prescribed guidelines, unless otherwise agreed to by the Treasurer.
  • Deposits shall not exceed $25mm. Deposits are to be drawn in $5 million increments for Financial Institutions receiving funds under the Program in the amount of $15 million or more, or $1 million increments for Financial Institutions receiving funds less than $15 million. For Deposits to be drawn the following must occur: (a) 75% of the deposit funding as of the date of the request has been loaned to Eligible Borrowers; (b) such loans have been substantiated to the Treasurer; and (c) the requested applicable metrics are furnished to the Treasurer.