EXHIBIT_A-_Scope_of_Services.pdf

EXHIBIT A- SCOPE OF SERVICES

To the Mayor and the Director of Finance/Treasurer of the City of Pittsburgh, ______________________ agrees to the following:

1. Subject to the provisions of the Pittsburgh Code, Title Two-Fiscal, Article III-Depositories and pursuant to the advertisements to act as a depository for monies of the City of Pittsburgh for a period of three (3) years beginning January 1, 2026 and continued with consent of both the City and the Depository.

2. To be a member of the appropriate Federal insurance agencies as of January 1, 2026 and to remain such a member through to December 31, 2028.

3. To deliver securities:

a. To a third-party bank for safekeeping, as provided in the Pittsburgh Code, Section 223.02 “Securing City Deposits”, for the security of the monies on deposit.

b. To pool pursuant to Pennsylvania Act No. 72 of the Session of 1971.

c. When applicable, provide a letter of credit through the Federal Home Loan Bank.

* One such method of collateralization must be selected at the time of City deposit. However, this method may be changed with written notice and subsequent approval by the City. Moreover, the City may require a specific method of collateralization from a specific depository.

4. To compute and pay to the City of Pittsburgh interest on daily balances of all monies on Inactive Deposits in this institution at the maturity of each investment.

5. To offer to the City at the time of quotation the highest per annum rate for investment instruments, the depository offers at that particular time of day, to any customer for comparable amounts (using aggregate total funds being invested by the City with the depository that day), comparable maturities, comparable collateralization requirements, and comparable investment vehicles, with interest to be calculated on the basis of actual days elapsed in the year of 365 days or on such other basis acceptable to the City as is customary for the particular investment vehicle.

a. Commercial Banks: To offer to purchase obligations of the U.S. Treasury, fully collateralized Certificates of Deposit, and Repurchase Agreements held in the name of the City for the account of the City of Pittsburgh, classified as open, overnight, or term transactions with $100,000 minimum investment with the certificate of deposit agreement collateral held in the name of the City of Pittsburgh. This is subject to availability.

b. All other lending institutions not considered a Commercial Bank: To offer to purchase fully collateralized Certificates of Deposit for the account of the City of Pittsburgh.

c. For those institutions desiring to bid market rate (subject to the provisions specified in this scope of services, i.e. 5.(a)), or for those institutions desiring to bid a fixed rate:

Fully collateralized Certificates of Deposit whose rate is fixed with the Maturities of:

% 7 to 13 days

% 14 to 29 days

% 30 to 59 days

% 60 to 89 days

% 90 to 119 days

% 120 to 179 days

% 180 days to 1 year

% 1 year

Each institution pledges to engage in an active secondary market on all securities held for the account of the City of Pittsburgh, other than securities issued by such institutions itself.

d. Non-pool collateral must be in direct obligation of the U.S. Treasury or obligations guaranteed by both principal and interest by the full faith and credit of the Federal Government held in safekeeping in the name of the City of Pittsburgh unless an investment agreement provides to the contrary.

e. Banks shall advise the City in writing of any changes or proposed changes instituted by the Federal Government Regulatory Board or its agencies.

f. If applicable, Master Repurchase Agreements will be negotiated and entered into separately from said Depository Agreement. However, the institution must be designated a City Depository for the current year.

6. To be eligible for the City of Pittsburgh Demand Deposits:

a. Depositories must have a Satisfactory or better Community Reinvestment Rating as set forth in the Community Reinvestment Act of 1977 (“CRA”), 12 U.S.C. 2901 et seq., and demonstrated commitment to the City of Pittsburgh and its citizens. Preference in terms of demand deposits shall be given to qualifying institutions that have earned an Outstanding CRA rating.

b. Any lending institution accepting deposits of the City money as a depository hereunder herby pledges, in writing, as follows:

“We pledge not to arbitrarily reject mortgage loans for residential property within a specified geographic area in Pittsburgh because of the location and/or age of the property. We also pledge to make loans available on residential property regardless of race and income status.”

c. Depositories shall attach and make part of their proposal where required all information requested regarding Community Reinvestment activity and submit supplemental data reports when requested by the Director of Finance as it pertains to the Community Reinvestment Plan.

7. Quarterly independent bank rating reports- Each successful Responder, upon request, whether an active or inactive depository, shall provide to the City at the Responder’s cost, a quarterly financial condition report from a qualified bank rating service. The rating service may also include the quarterly financial condition reports which are submitted to regulatory agencies.

FINANCIAL STATEMENTS MUST BE OF THE BANK ONLY AND NOT OF THE PARENT OR HOLDING

COMPANY OR CORPORATION.

8. Fees

a. To offer banking services on the compensation balance method of payment calculated on a quarterly or semi-annually basis as agreed upon between the Depository and the City, direct fees, or a combination of fees and compensating balances including but not limited to: wire transfers, lockbox, holding accounts, coin and currency services, automated bank reporting services, safekeeping, account analysis, account reconciliation, business checking accounts, demand deposit accounts and treasury management systems, availability schedule updates and local clearing house information, credit card programs, trust services. In addition, a listing of all current banking fees, including ATM user fees should be attached to and incorporated herein to this proposal where requested.

b. The compensating balance earnings shall be computed and offered to the City as the Bank offers to all of its customers.

c. All fees for banking services shall be set as of January 1, 2026 and remain fixed until December 31, 2028 and shall not be subject to change unless agreed to in writing by both parties.

9. To come into, and remain in compliance with, Title Two, Article III, Chapter 221-Contracts of the City Code during the calendar years of 2026-2028. This includes compliance with Section 221.02(d) of the City Code regarding investment in Northern Ireland.

10. As required by Title Two, Article III, Section 221.02 of the City Code, to attach and make part of this proposal, a sworn statement of the Responder’s financial condition, showing the amount of paid in capital and surplus and its general financial condition, as well as information needed for evaluation of the policies and practices regarding housing and economic development of such depository or potential depository. The information shall be reported for the institution and its affiliates and subsidiaries in the aggregate.

11. All depositories must provide the City Treasurer with all Home Mortgage Disclosure Statements, and Community Reinvestment Act Statements.

12. Responders must also attach certification of membership in the appropriate Federal Insurance Agency.

13. It should be noted that the City will require all successful responders to provide proof of:

a. Membership to Federal Reserve Pool Agreement as per Act 72 of 1971 or membership to the Federal Home Loan Bank and,

b. Federal Tax Identification Number, and

c. Ability to provide safekeeping for collateral posted in manners not part of any letter of credit or pool arrangements. The City will further require successful responders to allow inspection of collateral or other measures deemed appropriate by the Director of Finance to verify the pledging of securities used will be due by the third business day f each month for the preceding month.

14. All monthly and quarterly reports not submitted with the proposal should be mailed to:

Jennifer Gula, Director/Treasurer

Department of Finance

414 Grant Street, 1st Floor

Pittsburgh, PA 15219

15. Each active depository shall have a capital and surplus of at least one million dollars ($1,000,000).

The active and inactive deposits in any bank shall never at any time be in excess of forty percent (40%) of its capital and surplus, as shown by the last statement filed by the bank with the Director/Treasurer.

The inactive deposits in any mortgage lending institution shall at no time be in excess of forty percent (40%) of its net worth, as shown by the last statement filed by the mortgage lending institution with the Director/Treasurer.

Depository

Authorized Officer (Print Name)

Signature Date