National organization re-accredits Iowa Division of Banking

Northwestern Financial Review, Feb 6, 1999

The Conference of State Bank Supervisors has re-accredited the Iowa Division of Banking.

The Iowa Division of Banking was the nation's second state banking department to receive CSBS accreditation in 1985. It has now completed two full cycles of re-accreditation. Commissioner Michael K. Guttau heads the 75-employee agency, which supervises 392 banks and one nondeposit trust company, with total assets of more than $30 billion.

To earn CSBS accreditation, departments must complete a selfevaluation questionnaire, which reviews all aspects of the Department's operations: its mission, policies, procedures, funding and statutory authority. A review team of veteran regulators then visits the agency to determine whether it is meeting its responsibilities for chartering, regulating and supervising the state's banks. The review team reports its findings and makes a recommendation to the CSBS's performance standards committee, which votes on the final accreditation decision.

Accredited departments receive an annual review to ensure they are maintaining high performance standards, and must repeat the entire process every five years.

CSBS is the national association of state officials responsible for chartering, regulating and supervising the nation's 6,951 state-chartered commercial and savings banks and 419 state-licensed branches and agencies of foreign banks.

CSBS has accredited 43 state banking departments.