Update on recent market events.Click here to read more. 

Prime-style local government investment pool 

Enhanced cash local government investment pool 

Current and historical rate information
A comprehensive introduction to the different California CLASS portfolios 
Get to know our diverse and experienced public finance officials who oversee the program
Our administrator, auditor, custodian, and legal counsel
Enrollment documents, prospectuses, and financials 
Updates, newsletters, and special reports
Upcoming Board meetings, holidays, events, and conferences
Answers to commonly asked questions about California CLASS

Getting started is easy; join today and start earning tomorrow!

Assistance with your accounts and answers to your California CLASS questions
Contact our investment professionals who can provide you with information about the program 

A Memo From California CLASS

California CLASS is a local government investment pool serving California public agencies. California CLASS has issued the following statement in light of the recent developments regarding Silicon Valley Bank and Signature Bank (collectively, the “failed banks”) and the resulting market uncertainty.

California CLASS did not have any direct exposure to any failed banks, nor did California CLASS have financial relationships with any of the failed banks. In fact, all of California CLASS’s bank exposure is within the FDIC insurance coverage limits and/or fully collateralized. The failed banks generally operated in a different banking sector than traditional banks and, as a result, we believe that, based on credit fundamentals, the risk should not be systemic. The Federal Reserve has created a Bank Term Funding Program to backstop the entirety of the banking system; however, recent market events suggest that investor behavior warrants enhanced due diligence.

California CLASS’ cash deposits are fully collateralized and maintained with a diverse group of national and regional financial institutions. Our disciplined investment process continually evaluates the strength and capitalization of our U.S. money center and regional counterparties, and indicates asset quality is strong, net interest margins are robust, and funding is solid in the fixed-income markets.

California CLASS does not expect the closure of the failed banks to have any impact on our operations. We will continue to monitor the situation and any impact on California CLASS or our participants.