OST’s Banking Division works with state entities and depository institutions to ensure the efficient and effective implementation of the State Depository Board’s policies related to banking services. The Banking Division’s primary responsibilities include:
- Consulting with state agencies, authorities, boards, bureaus, commissions, departments, colleges, universities, and technical schools regarding banking services.
- Evaluating requests for new deposit accounts and banking services.
- Conducting periodic evaluations of state entities’ OST Bank Program accounts.
- Updating and maintaining the State Bank Registry (record of banks and accounts by state entity).
- Managing the state’s merchant card services programs for state (required) and local (voluntary) entities.
- Administering the state’s Secure Deposit and Deposit Placement programs.