[Local-Gov-News] Oregon State Treasury | Service Alert

[OST NEWSLISTS]

[cid:image001.png at 01DCF2A2.AC0673C0]
Update on Delayed LGIP Transactions
The information below has been updated to reflect further delays at U.S. Bank and PFMAM impacting the Local Government Investment Pool:

Redemptions
ACH redemptions out of the pool for amounts of $1 million or less and scheduled to settle today will not be credited to external bank accounts until tomorrow. ACH redemptions for amounts greater than $1 million and scheduled to settle today have been processed successfully as wire transfers. Participants should monitor their external bank accounts to confirm receipt of expected redemptions. Participants that incur any financial penalties due to the delay or processing method are asked to contact PFMAM Client Services at csgmww at pfmam.com<mailto:csgmww at pfmam.com> or 855.OST.LGIP.

Purchases
ACH purchases into the pool scheduled to settle today will not be debited from external bank accounts until tomorrow. Participants should keep moneys related to delayed purchases available in external bank accounts. Despite this delay in the movement of moneys, these purchases are currently reflected in pool account balances, are earning dividends, and are available for transfer/redemption.

Transfers
Transfers, including participant-to-participant transfers, scheduled to settle today were not impacted by today’s processing delays.

We regret these delays and are working closely with U.S. Bank and PFMAM to review processes and controls. We take seriously the trust you place in us and our partners each and every day, and we are committed to ensuring that necessary actions are taken to avoid these types of errors and delays going forward.
[cid:image002.png at 01DCF2A2.AC0673C0]
867 Hawthorne Ave SE
Salem, OR 97301-5241

Manage Your Subscription or Unsubscribe<http://omls.oregon.gov/mailman/listinfo/local-gov-news>
503.378.4000
oregon.gov/treasury<http://www.oregon.gov/treasury/>

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://omls.oregon.gov/pipermail/local-gov-news/attachments/20260602/8080de9e/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 15699 bytes
Desc: image001.png
URL: <https://omls.oregon.gov/pipermail/local-gov-news/attachments/20260602/8080de9e/attachment.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 20955 bytes
Desc: image002.png
URL: <https://omls.oregon.gov/pipermail/local-gov-news/attachments/20260602/8080de9e/attachment-0001.png>