Bank
Our cash account is a foundation for your private banking experience, providing you with flexibility, accessibility and control of multiple currencies, fixed deposits and global money transfers
CSB today
Your relationship with CSB is governed by the world-class statutory and regulatory framework of Cook Islands, the most advanced banking jurisdiction in the Pacific.
At the heart of our business is financial security.
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Conservative treasury management
We invest our liquidity in highly-rated developed-markets sovereign fixed income securities and, only opportunistically, in very-short-term over-collateralised trade finance.
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Capital ratio well in excess of Basel III requirements
We do not engage in speculative portfolio investments or unsecured lending. As a result, our capital ratio is very significantly above Basel III regulatory requirements.
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Member of SWIFT
SWIFT is the global industry-standard message protocol for international money transfers, including automated sanctions screening and a Know-Your-Client (KYC) Registry.
Our SWIFT code is ‘CPSBCKCAXXX‘.
Banking in Cook Islands
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Word-class regulation
Cook Islands bank regulation, regulatory oversight and prudential requirements are on a par with those of the most advanced jurisdictions globally (e.g. UK). Cook Islands is rated higher by FATF for anti-money laundering procedures than Jersey, Guernsey, or British Overseas Territories.
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Asset protection legislation
Cook Islands was the first jurisdiction to enact legislation specifically for the protection of assets, which has been tested and upheld repeatedly by the courts.
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Sovereignty and independence
Cook Islands is a sovereign jurisdiction, well suited to international clients seeking asset protection with full tax transparency in a fully compliant and internationally-recognised regime.
Rigorous internal procedures
In addition to the world-class legal and regulatory framework of Cook Islands and its supervision by the Financial Supervisory Commission, CSB maintains state-of-the-art internal policies, processes, procedures and controls in line with the highest international standards and best practices, such as:
- Regular testing of processes and controls
- ‘Three lines of defence’ internal risk control with multiple oversight
- Daily transaction and balance reconciliation of all client accounts and the treasury portfolio
- Daily capital ratio and liquidity profile calculation and reporting
- Annual review and approval of updated versions of all policies and procedures by the Board of Directors
Our team
Our directors, officers and staff are bound by our Code of Ethics and Business Conduct and subject to strict requirements for appointment, including full background and police checks and professional references.
All our shareholders, directors and managers are approved by the Financial Supervisory Commission (FSC).