Items listed below represent NMSU's minimum requirements. Proposal must clearly explain Respondent’s ability to address each of the minimum requirements. 1. Eleven (11) zero-balance demand deposit accounts, which will function to clear NMSU issued checks, accept NMSU deposits, and clear incoming and outgoing wire transfers. Additionally, one demand deposit account that will serve as the daily clearing account to cover overdraft balances and accept positive collected balances in/from the zero balance accounts and the availability for one overnight investment account to accept all collected balances at the end of each day from NMSU’s clearing account for overnight investment. Funds that remain in a depository account must comply with collateralization requirements in NMAC 2.60.4. 2. The overnight investment account, referred to in 1. above, must be collateralized with U.S. Treasury or Agency securities in an amount not less than 102% of the investment amount each day, in accordance with 6-10-10 NMSA, 1978, Subsection G. NMSU requires daily hardcopy or downloadable confirmations of a listing of collateral pledged. 3. Bank accounts in Alamogordo and Grants to support NMSU’s community colleges. Provide a listing of bank branches located in these cities...
