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Tennessee Secretary of State Tre Hargett
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Board Details
| Board Name: | Bank Collateral Pool Board |
| Board ID: | 13 |
| Address: | 502 Deaderick Street, Nashville, TN 37243 |
| Phone: | 615-532-1167 |
| Board Contact: | Mary Roberts-Krause |
| Contact Phone: | 615-741-7063 |
| Appointing Authority: | Treasurer |
| TCA: | 9-4-506 |
| Duties: | The Board is responsible for administering the Bank Collateral Pool program. This program is a shared risk pool for any bank that chooses to participate, so the main responsibility of the Board is to create a program that minimizes the risk for participating banks and creating an efficient way to secure public deposits. Other duties of the Board include approving banks that desire to participate in the program, establishing collateral pledge levels and the criteria for each pledge level, reviewing the performance of the participating banks to determine that all participating banks are operating within the established rules of participation, establish the minimum amount of collateral required to provide for the contingent liability, creating a process to determine to the greatest extent possible that a participating bank is securing all public deposits through the program, and creating the administrative rules necessary to carry out the purpose and intent of the statute creating the program. The Board also has the authority to delegate any of its powers to the State Treasurer. |
| Number of Members: | 7 |
| Compensation: | Members do not receive compensation but do receive reimbursement of travel expenses in accordance with state travel regulations. |
| Appropriations: | The board does not generate its own revenue and is attached for administrative purposes to the Department of Treasury, and its expenses are paid from appropriations made to the Department. |
| Meeting Schedule: | The board meets at the call of the Chairperson or upon request to the Chairperson by four (4) Board members. Previously, the Board had been meeting on a quarterly basis, and for approximately four (4) hours per meeting. |
| Hours Required: |