CERTIFICATE OF DEPOSIT ACCOUNT REGISTRY SERVICES (CDARS) PROGRAM RELATIONSHIP BANK SERVICES

The City of Houston is seeking qualified financial institutions to provide Certificate of Deposit Account Registry Service (CDARS) Program Relationship Bank Services for the City Controller's Office. The primary objective is to manage City deposits through the Promontory CDARS Network to secure FDIC insurance coverage exceeding standard limits while maximizing returns and ensuring liquidity. The selected bank or banks will act as agents and custodians for placing funds into insured certificates of deposit, adhering to the Texas Public Funds Investment Act and the City's Investment Policy. The contract is estimated to begin in December 2026 and will remain in effect until terminated by either party with thirty days' written notice. To qualify, banks must maintain a physical presence in Houston, Texas, and conduct at least 40% of their banking operations within the city. They must also commit at least 40% of investments to qualified community development investments and provide all services with no fees charged to the City. Evaluation is based on a 100-point technical scale focusing on the firm's specialized experience, the qualifications of key personnel, and the ability to meet the scope of services, with additional preference points awarded to Hire Houston First designated City or Local Businesses. Required submissions include a detailed tabbed proposal, conflict of interest disclosures, and anti-collusion statements, with a final response deadline of October 22, 2026.