meta_id 3143508

On May 11, 2026, the New Hampshire Banking Department issued guidance clarifying the circumstances under which federally insured out-of-state banks with approved New Hampshire branch offices may accept deposits of public funds from New Hampshire public entities. The Department stated that, under RSA 383-B:10-1004(b) , foreign banks authorized to establish or acquire branches in New Hampshire possess the same powers as New Hampshire state-chartered depository banks with respect to branch operations within the state, subject to the same duties and restrictions. The guidance further clarified that out-of-state banks seeking to accept public funds deposits must additionally comply with the conditions established under RSA 6:8, I and I-a , which were introduced through House Bill 545 in 2021 . These provisions establish requirements applicable to federally insured out-of-state banks operating branches in New Hampshire and are subject to reporting obligations administered by the New Hampshire State Treasurer. The Department also reminded institutions that Banking Department administrative rule Ban 1450 establishes the acceptable collateral classifications and risk standards applicable to securing public funds deposits.