The CSBS Accreditation Program involves an in-depth review of an agency’s policies, procedures, and operations to determine if it meets the standards set forth by the Performance Standards Committee (PSC). A state seeking accreditation for the first time or a state seeking its five-year re-accreditation must complete the self-evaluation questionnaire (SEQ), which includes several sections broken into multiple topics. The agency is asked to answer a series of questions and rate themselves against the corresponding standard. The agency can add documentation to support its answers and ratings. Benefits of the Accreditation Program:
1. Obtain guidance and assistance through self-evaluation and self-improvement
2. Help standardize your processes through documentation
3. Demonstrate your agency meets the standards for state supervision
4. Share ideas and best practices for state regulation of financial services
5. Strengthen state financial regulation by meeting a shared set of principles
The Arkansas State Bank Department first became accredited on August 8, 1988 and received its sixth certificate of re-accreditation on April 2, 2019, certifying that the department maintains the highest standards and practices in state banking supervision. Re-accreditation reviews are conducted every 5 years from the initial accreditation. The department is fully accredited through December 31, 2024.
Forty-six state banking departments have received this honor. These departments supervise more than 95% of all assets in the state banking system.
Being an accredited state bank department demonstrates to Congress, the federal regulatory agencies, other state banking departments, and the public that we are highly capable of ensuring the safety and soundness of the institutions we charter under the dual banking system.