BidOhio Guidelines

(Amended 4/13/2023)

BidOhio is a "first of its kind" investment initiative in the United States. The program is designed to provide eligible Ohio depository financial institutions with the opportunity to interactively compete for state investment dollars each month.

Bids will be accepted on-line at each month during scheduled auctions, and will be funded the next business day after the bids are confirmed by the financial institution. The monthly schedule of auctions is communicated to all registered bidders in advance of the auctions. Currently, the auctions are held on the first and third Tuesday of each month, and additional auction offerings may be added. These auctions will begin at 10:00 a.m. and end at 10:30 a.m. on the designated dates. The Ohio Treasurer will make funds available as noted on the BidOhio website (there is a $15 million limit per financial institution for each auction).

Registration and Entry to Auction

Bidders must register with BidOhio. To register, bidders should go to the BidOhio web site. Upon successful registration, bidders will receive a BidOhio password and will be responsible for protecting the confidentiality of the password.
The Ohio Treasurer reserves the right to deny access to any BidOhio auction to any bidder, at any time and for any reason whatsoever, in its sole and absolute discretion.

Bid Requirements

The minimum bid is $100,000.00. Bids may increase in increments of $100,000.00 to a maximum of $15,000,000.00 per financial institution - including all branch offices, per auction.
The minimum rate will be determined by the Ohio Treasurer's office and will be displayed on the auction home page prior to the auction. Bids below the minimum rate will not be accepted.
Multiple bids from same bidder are permissible. Each bidder may make up to five bids, the total of which may not exceed program limitations. There is no limit as to the number of times a bid may be updated/changed.
Settlement date is the day following the auction and will be displayed on the Auction Page.
Maturity date will be displayed on the Auction Page.
Certificates of Deposit must be collateralized pursuant to Ohio Revised Code Section 135.18 by 5 p.m. the day before the auction. Participating financial institutions must have sufficient collateral in place to secure its bid(s). Insufficient collateral will be cause to prevent a financial institution's admission to an auction or to reject a bid.
Winning Bidders will be assessed a fee equal to .01% of the principal amount of the certificates of deposit awarded for the 6 Month Certificates of Deposit and a fee equal to .005% for the 3 Month Certificates of Deposit. Such fee will be payable to Grant Street Group by ACH debit 2 days following the auction. Completion of the ACH Debit Authorization on the Confirmation Page represents winning bidder's authorization for Grant Street Group to debit account. Failure to make timely payments of the Grant Street Group fee will result in exclusion from subsequent auctions.
If qualified bids submitted in the same auction by the same or different bidders result in a tie, the first bid submitted prevails. Any change to a bid constitutes a new bid.
Winning Bidders must confirm their award per the instructions on the Confirmation Page immediately after the auction ends.

Certificate of Deposit Requirements

Interest on the certificate of deposit will be calculated on a 360 per diem basis using the actual number of days ((principal amount times the rate) divided by 360 multiplied by the actual number of days).
Certificates of deposit will be book entry in the name of the State of Ohio, Ohio Treasurer.
Transactions will be completed by wire transfer or ACH.

Auction Training

Training on how to use the BidOhio website can be obtained by calling the Ohio Treasurer's office at 614-466-6546. There is no charge for the training.

Additional Conditions

The Ohio Treasurer reserves the right to reject any BidOhio bid for any reason at his discretion. The Ohio Treasurer also reserves the right to award a portion of a financial institution's bid subject to the minimum and multiple amounts described above.
Each bidder must acknowledge that he or she has read amendments to the guidelines in each auction and indicate agreement with the amendment electronically in order to enter the auction.
Submitted bids must also be verified. The bidder understands that in verifying the bid, the bidder has made a formal offer.
Bids that generate error messages are not accepted until error is corrected and bid is resubmitted. Error messages will indicate the reason for the error such as in the instance in which the bidder has entered a bid that is lower than the minimum bid requirement.
The bidder understands that the submitted bid may initially be a leading bid, but may be replaced by other more competitive bids throughout the auction. Bidders will know immediately if their bid continues to be a winning bid by updating their bids. A bid's status when "in the money" may change at any given time due to new bids by other bidders. It is the responsibility of the bidder to update his or her bid status. There is no limit to the number of times a bid may be updated.
A bidder submitting a winning bid is irrevocably obligated to provide the certificate of deposit at the specified rate, amount and maturity date, if acceptable to the Treasury, as herein set forth. The bidder understands that an award has not been made until posted on the Results Page on the BidOhio site. Discrepancies should be reported to the Ohio Treasurer's office at 614-644-6546 within 15 minutes of the posting of the Results Page.
In the event of a web site failure the auction will be attempted at the top of every hour the day of the scheduled auction between the hours of 10 a.m. and 4 p.m. In the event that the auction is not completed on the scheduled day, the next attempt will be 10 a.m. the next business day. The Ohio Treasurer will inform registered bidders of a change in the bidding format via phone, fax or e-mail.


The Grant Street Group software, supplied by Grant Street Group, used in conjunction with this web site serves only as a medium through which the BidOhio auctions are conducted. Grant Street Group is not liable or responsible for the terms, rates, collateral or any other condition by which financial institutions are awarded monthly deposits. Grant Street Group is not responsible for any defect or inaccuracy in the Guidelines as they appear on the BidOhio web site.
Neither the Ohio Treasurer nor Grant Street Group is responsible for technical difficulties that result in the loss of bidders' Internet connection with BidOhio, slowness in transmission of bids or other technical problems. Neither the Ohio Treasurer nor Grant Street Group is responsible for individual computer failures. In the event of a computer failure, bidders may contact the Ohio Treasurer's office at 614-644-6546.
This web site is provided "as is" without any warranty whatsoever. Grant Street Group hereby disclaims any and all warranties, including without limitation any implied warranties of merchantability and/ or fitness for a particular purpose.
In no event will Grant Street Group be liable for indirect, special, incidental, economic, cover, consequential, tort or other damages (including without limitation damages or costs relating to the loss of profits, business, goodwill, data or computer programs, even if advised of the possibility of such damages), without regard to the legal theory of such damages, arising out of the use of or inability to use this web site.

Acceptance of Guidelines

Bidder accepts and agrees to abide by all terms and conditions specified in the Guidelines.

Go to: BidOhio Home Page
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