Source: http://www.dfs.ny.gov/banking/322apl2.htm
Timestamp: 2016-07-01 09:49:39
Document Index: 474860643

Matched Legal Cases: ['art 322', 'art 322', 'arts 322', 'art 322', 'arts 322', 'art 61']

DFS-Applications: Asset Pledge List
Foreign Banking Corporation: Asset Pledge List
Assets Eligible for Pledging pursuant to Section 202-b of the New York State Banking Law and Part 322 of the Superintendent's Regulations and subject to the limitations and restrictions contained therein.
Specified Assets:
% of Market Price allowed
Specified Assets permitted by statute pursuant to Section 202-b(1) of the Banking Law - For ALL Institutions
Interest-bearing stocks and bonds, notes, debentures, or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States, except as noted below
Zero Coupons or STRIPs of the US Government or Agencies thereof
Obligations of New York State, or of a city, county, town, village, school district, or instrumentality of New York State or guaranteed by New York State, rated Investment Grade
Obligations of New York State, or of a city, county, town, village, school district, or instrumentality of New York State or guaranteed by New York State, Not Rated
Dollar deposits, or obligations of the International Bank for Reconstruction and Development
Obligations issued by the Inter-American Development Bank, the Asian Development Bank, the African Development Bank or the International Finance Corporation, rated investment grade
Zero Coupons or STRIPs of International Agencies named above
Bonds, notes, debentures, or other obligations issued by or guaranteed by the Federal Home Loan Mortgage Corporation (Freddie Mac) and by the Federal National Mortgage Corporation (Fannie Mae)
Bonds, notes, debentures or other obligations issued by or guaranteed by the Student Loan Marketing Association (SALLIE MAE)
Zero Coupons or STRIPs (not including mortgage-backed interest only STRIPS) of Government Sponsored Enterprises named above
Bonds, notes, debentures or other obligations issued by or guaranteed by a federal home loan bank
Other obligations of any unaffiliated issuer only as specifically permitted in the lists of "Additional Assets" below in aggregate amounts of up to ½ of the required pledge
Permitted Assets: Permitted by regulation pursuant to Part 322.2(a)(2) of the Superintendent's Regulations.
Commercial paper payable in the United States accorded the highest rating of a rating service
Negotiable certificates of deposit payable in the United States and issued by an unaffiliated domestic banking institution or a domestic office of an unaffiliated foreign banking corporation from a country other than the home country of the pledging institution.
Bankers' acceptances that are payable in the United States and issued by an unaffiliated domestic banking institution or a domestic office of an unaffiliated foreign banking corporation
Additional Assets: Pursuant to Parts 322.2(a)(3) and (b)(3) - For All Foreign Banking Corporations Note: The aggregate total of Additional Assets is limited to ½ of the required pledge. Other International Agencies Bills, Notes, Bonds rated AAA
Other International Agencies Zero Coupons, STRIPs rated AAA
Brady Bonds (to the extent backed by US Treasury obligations)
Obligations of Foreign Governments rated AAA
Other Municipal Bonds, including Industrial Revenue Bonds rated AAA
Corporate Bonds rated AAA
Asset-Backed Securities rated AAA (including Collateralized Loan and Bond Obligations)
Commercial Mortgage-Backed Securities rated AAA
Mortgage-Backed Securities rated AAA not otherwise permitted by statute (not including interest only STRIPS)
Collateralized Mortgage Obligations rated AAA (not including private label CMOs)
Trust Preferred Securities rated AAA
Other International Agencies Bills, Notes, Bonds rated Investment Grade
Other International Agencies Zero Coupons, STRIPs rated Investment Grade
Obligations of Foreign Governments rated Investment Grade
Other Municipal Bonds including Industrial Revenue Bonds rated Investment Grade
Corporate Bonds rated Investment Grade
Asset-Backed Securities rated Investment Grade (not including Collateralized Loan and Bond Obligations)
Trust Preferred Securities rated Investment Grade
Commercial paper payable in the United States rated Investment Grade
1. In ALL cases assets eligible for pledge MUST be repayable in US dollars, pursuant to Part 322.2(b)(1). 2. Pledged assets will be valued at the LOWER of (i) principal amount or (ii) fair (market) value subject to the haircuts outlined in this List, pursuant to Parts 322.1 and 322.2(b)(6).
3. To be eligible as "Additional Assets," securities MUST have a readily available market price. 4. Any reference made to a securities or commercial paper rating means that the asset has been accorded the applicable rating of a rating service designated by the Banking Board pursuant to Part 61.1 of the Superintendent's Regulations. In the event that an asset is rated by more than one designated service, it must have received the applicable grade rating from each.
Rev: 08/16/13