Daejeon City Initiates Next Treasury Designation Process... Proposal Submission by 23rd Next Month
[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City is initiating the procedure for designating the next treasury bank.
According to the city on the 17th, the designation of the next treasury bank is being pursued as the current treasury bank contract period expires on December 31.
The city will accept application proposals on the 23rd of next month. Then, through the Treasury Bank Designation Review Committee composed of related public officials and private experts, evaluations and reviews will be conducted by evaluation criteria, and the final treasury bank will be selected around the end of next month.
Before accepting application proposals, the city plans to hold a related briefing session on the 3rd of next month.
The selected treasury bank will handle Daejeon City’s treasury operations from January 1 of next year to December 31, 2025.
The evaluation score will be given out of 100 points across six categories according to the ‘Daejeon City Treasury Bank Designation and Operation Ordinance.’
The scoring distribution by evaluation category is subdivided as follows: ▲ Internal and external creditworthiness and financial structure stability of the financial institution (26 points) ▲ Loan and deposit interest rates for the city (20 points) ▲ Convenience for citizens (21 points) ▲ Treasury operation management capability (24 points) ▲ Contribution to the local community and ability to promote cooperative projects with the city (7 points) ▲ Other matters (2 points).
Eligibility to apply is granted to financial institutions that have a head office or branch in Daejeon and are banks under the ‘Banking Act’ as stipulated by Article 38 of the ‘Local Accounting Act.’
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The city will accept applications collectively without distinguishing between the first and second treasury banks, then designate the first priority financial institution as the first treasury bank responsible for general accounts, 11 special accounts, and the regional development fund, and designate the second priority financial institution as the second treasury bank responsible for 6 special accounts and 16 funds based on the review results.
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