NY Banking L § 121 (2021)
2021 New York Laws BNK - Banking Article 3 - Banks and Trust Companies 121 - Reports to Directors.

§ 121.  Reports  to  directors. The board of directors shall, at least   once in each year by resolution duly recorded in the minutes,  designate   an  officer  or  officers  whose duty it shall be to prepare and submit,   either to each director present at each regular meeting of the board, or   to each member of an executive committee of not less than  five  members   of such board, present at a regular meeting of such committee, a written   report as described in this section. Except as otherwise provided by the   superintendent  by  regulation,  which  regulation  may define the terms   contained herein and  establish  such  requirements  according  to  size   and/or business activities of a bank or trust company, such report shall   include  all  the purchases and sales of securities, and every discount,   loan or other advance, including  all  renewals  made  and  the  maximum   overdraft  permitted  in  each  account,  since  the  date  of  the last   preceding similar report, describing the collateral to such indebtedness   as of the date of the report; but such officer or officers may omit from   such report discounts,  loans  or  advances,  including  overdrafts  and   renewals,  of  an  amount  less  than  one-half of one per centum of the   combined capital stock, surplus fund and undivided profits of such  bank   or  trust  company,  or  less  than  one  thousand dollars, whatever the   combined capital stock, surplus  fund  and  undivided  profits  may  be.   Unless  the  superintendent shall provide otherwise by regulation, which   regulation may define the terms  contained  herein  and  establish  such   requirements  according  to size and/or business activities of a bank or   trust company,  such  report  shall  also  contain  a  list  giving  the   aggregate  of  loans,  discounts  and advances, including overdrafts and   renewals, to each individual, partnership,  unincorporated  association,   corporation  or  person whose liability to the bank or trust company has   been increased, since the date of the last preceding similar  report  to   an  amount  equal  to  or  more  than  the  amount  above required to be   reported, and such  report  shall  also  include  any  further  increase   thereafter provided that the amount of any such increase, either itself,   or  together  with  other  increases since such loan, discount, advance,   overdraft or renewal was last reported is equal to more  than  one-tenth   of  one  per  centum  of  the  combined  capital stock, surplus fund and   undivided profits of such bank or trust company. Each such report  shall   also  contain  a description of the collateral to such indebtedness held   by the bank or trust company as of the date of  the  report  unless  the   superintendent  shall  provide  otherwise  by regulation. Such aggregate   liabilities  shall  be  computed  as  provided  in  paragraph   (e)   of   subdivision  one of section one hundred three of this article. A copy of   such report, together with a list  of  the  directors  present  at  such   meeting,  verified  by  the affidavit of the officer or officers charged   with the duty of preparing and submitting such  report  shall  be  filed   with  the records of the bank or trust company within five business days   after such meeting, and be presumptive evidence of the  matters  therein   stated.