The Philadelphia City Council has enacted an ordinance to amend Chapter 19-200 of The Philadelphia Code, specifically Section 19-201, which governs City Depositories. The amendment formally removes Citibank, N.A. and Republic First Bank from the list of authorized financial institutions where the City Treasurer is permitted to deposit City funds. This legislative action ensures that the City of Philadelphia will no longer utilize these two banks for its fund deposit needs, while retaining other previously authorized institutions such as Wells Fargo Bank, PNC Bank, United Bank of Philadelphia, TD Bank, Citizens Bank, Bank of America, Bank of New York Mellon, U.S. Bank, Fulton Bank, JPMorgan Chase Bank, and Santander Bank.