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Can you summarize ARAR 210.00?
Bank Department > Division 00
Short Summary
The provided legal document content covers various administrative policies related to the banking industry in Arkansas. The first document, Administrative Policy #008, outlines the requirements for the composition and responsibilities of the Bank Board of Directors. It emphasizes the need for directors to be knowledgeable about economic conditions, competent in business, and skilled in financial management. The policy also mandates director training approved by the Bank Commissioner. The second document focuses on contingency planning for community banks, emphasizing the need for a comprehensive plan to minimize disruptions and ensure timely resumption of operations. It provides a list of areas to address in the plan and recommends testing it regularly. The third document addresses the environmental risk associated with lending transactions involving real estate as collateral. It highlights the potential liability faced by financial institutions and emphasizes the need for precautionary measures and compliance with applicable laws. The fourth document, Administrative Policy #005, discusses the importance of strategic planning for banks in the context of expanding banking powers and changing regulations. It emphasizes the need for a mission statement, measurable objectives, and involvement of the board of directors and bank personnel. The fifth document, Administrative Policy #004, pertains to the nonaccrual of interest by banks. It outlines the circumstances under which interest cannot be accrued and provides criteria for restoring assets to accrual status. The sixth document, Administrative Policy #003, provides guidance on risk rating and reserve allocation for Arkansas financial institutions, aligning with GAAP guidelines. The seventh document requires bank holding companies owning Arkansas state-chartered banks to submit certain Federal Reserve System reports. It specifies the reports and their submission frequency. The eighth document provides guidelines for eligible bank investments for state-chartered banks, including criteria for Collateralized Mortgage Obligations (CMO’s) and restrictions on certain investments. Overall, these documents provide guidance and regulations for various aspects of the banking industry in Arkansas.
Whom does it apply to?
The administrative policies apply to banks and financial institutions operating in Arkansas.
What does it govern?
The provided legal document content covers various administrative policies related to the banking industry in Arkansas.
What are exemptions?
No specific exemptions are mentioned in the provided content.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Arkansas