reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Policy 1 - Authorization for Trust Powers for Savings and Loan Associations › Section 1.4 - Application of other laws and regulations

Current through Register Vol. 46, No. 28, July 10, 2024
The provisions of Supervisory Procedure CB 119 shall to any
					 savings and loan association which proposes to establish a common trust fund,
					 and the provisions of Part 22 of this Title shall apply to any savings and loan
					 association maintaining such a fund. The term trust company, as used in CB 119
					 and Part 22 of this Title, shall be deemed to mean the trust department of a
					 savings and loan association.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 101 - Application for Savings and Loan Association Branch Offices › Section 101.1 - General information

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A
				  savings and loan association that seeks permission to open a branch office
				  should file an application therefor with the superintendent, as set forth in
				  section
				  1.1  of
				  Supervisory Policy G 1 of this Title which meets the requirements of this
				  supervisory procedure, accompanied by payment of the fee specified in section
				  1.2  of
				  Supervisory Policy G 1 of this Title. The words "branch," "office" and
				  "offices" as used in this Supervisory Procedure shall include limited purpose
				  branches, but shall not include automated teller machines, point-of-sale
				  terminals or similar facilities.
(b) In accordance with Supervisory Procedure
				  G 106 (Public Access to Banking Department Records) of this Title, the entire
				  application and all supporting material are available for public inspection
				  except for confidential material. If the applicant believes that the public
				  availability or disclosure of certain of the information provided would be
				  clearly harmful, such information should be segregated from the public portion
				  and labeled "confidential." The applicant must also state the reasons under
				  section 87(2) of the Freedom of Information Law for any request for
				  confidentiality.
(c) The Banking
				  Department processes branch applications using either an expedited application
				  process or a standard application process. An institution is eligible for the
				  expedited process if it satisfies all of the following criteria:
(1) has a composite CAMELS rating of "1" or
				  "2";
(2) has at least a
				  satisfactory ("2") rating for management;
(3) is well capitalized in accordance with
				  applicable Federal standards;
(4)
				  has a CRA rating of "satisfactory" or better; and
(5) has no major unresolved supervisory
				  issues outstanding (as determined by the Banking Department in its discretion).
Application requirements are set forth by the
					 Superintendent of Banks. Forms and instructions may be obtained directly from
					 the department, and are available on the department's website
					 (www.banking.state.ny.us).
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 101 - Application for Savings and Loan Association Branch Offices › Section 101.2 - Application for community afforded home office protection

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Department will not accept applications for
					 branch offices in communities from which the applicant would be barred, at the
					 time of filing, under the home office protection provisions of the New York
					 Banking Law; provided, however, such a branch application may be accepted for
					 filing if there exists on such date any application with the appropriate
					 regulatory authorities which would, if approved, eliminate the protection
					 provisions of section 396 of the New York Banking Law. No final action will be
					 taken on such branch application until home office protection will have ceased
					 under New York Banking Law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 110 - Merger of Savings and Loan Association or Savings Bank into a Savings and Loan Association › Section 110.1 - General information

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				  instructions set forth in this Procedure shall apply to a merger proposed
				  pursuant to Banking Law, section
				  600(3) and
				  (4), where the surviving institution is a
				  savings and loan association.
(b) A
				  separate application shall be filed with respect to each merger for which the
				  approval of the superintendent is sought and six copies thereof, together with
				  all exhibits thereto, including two executed copies of the exhibits referred to
				  in section
				  110.3(a)-(c) 
				  of this Procedure, shall be filed with the superintendent, at the address set
				  forth in section
				  1.1  of
				  Supervisory Policy G 1 of this Title. The application shall contain the
				  information specified in sections
				  110.2 and
				  110.3  of
				  this Procedure and shall be accompanied by payment of the fee specified in
				  section
				  1.2  of
				  Supervisory Policy G 1 of this Title. Inquiries concerning the preparation of
				  the application should be addressed to the superintendent.
(c) Before the application for the
				  superintendent's approval is submitted, the following approvals shall be
				  obtained:
(1) the plan of merger shall be
				  approved, in the manner prescribed by Banking Law, section
				  601(3), by the board of
				  directors of each savings and loan association and the board of trustees of
				  each savings bank which is a party to the merger; and
(2) the board of trustees of each such
				  savings bank shall approve, in the manner prescribed by Banking Law, section
				  277, the discontinuance of a life insurance department operated by such savings
				  bank pursuant to article VI-A of the Banking Law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 110 - Merger of Savings and Loan Association or Savings Bank into a Savings and Loan Association › Section 110.2 - Information required in the application

Current through Register Vol. 46, No. 28, July 10, 2024
(a) General information. Set forth the name
				  and address of the applicants; the name and address of the officer to whom all
				  communications from the Banking Department should be addressed; and the date or
				  proposed date of filing of any required applications or other documents with
				  the Federal Deposit Insurance Corporation, the Federal Savings and Loan
				  Insurance Corporation or the Federal Home Loan Bank System.
(b) Banking offices. List the name and
				  address of the principal office of each party to the proposed merger and of the
				  surviving savings and loan association; the branch office locations of each
				  party; the road distance between the nearest offices of each party and the
				  offices, if any, which will be closed if the application is approved.
(c) Deposits.
(1) Number and volume. List in tabular form
				  the number of accounts and dollar amount of deposits of each party to the
				  merger, by type of account and type of depositor, as of December 31st for each
				  of the preceding three years. For purposes of this Procedure, the terms
				  deposits and depositors include shares and shareholders of any
				  association.
(2) Primary and
				  secondary service areas. Indicate the deposits, by number of accounts and
				  dollar amount, which originate in the primary service area and the secondary
				  service area, respectively, of each party to the merger. This computation
				  should also be made for any office if the service area thereof is reasonably
				  close to or overlaps any service area of the other party or any of its offices.
				  The term primary service area, of a bank, association or any office thereof,
				  means the area from which is derived approximately 75 percent of the dollar
				  amount of deposits based on the record addresses of the depositors
				  thereof.[FN*] The term secondary service area, of a bank, association or any
				  office thereof, means the area contiguous to but outside of the primary service
				  area from which is derived approximately an additional 15 percent of the dollar
				  amount of deposits based on the record addresses of the depositors
				  thereof.*
(3) Overlap. Indicate the
				  deposits, by number of accounts and dollar amount, that each party to the
				  merger draws from the primary and secondary service areas of the other,
				  separately itemized for savings and other time deposits.
(4) Rates. For each party, describe the rates
				  paid on savings and other time deposits and the methods of computation. If any
				  of the rates or the methods of computation differ between the parties to the
				  merger, include a statement specifically indicating how the differences will be
				  resolved if the application is approved.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 110 - Merger of Savings and Loan Association or Savings Bank into a Savings and Loan Association › Section 110.3 - Exhibits

Current through Register Vol. 46, No. 28, July 10, 2024
The following exhibits shall be filed as part of the
					 application:
(a) Plan of merger,
				  setting forth the terms and conditions of the merger, executed by each party to
				  the merger and otherwise complying with the requirements of Banking Law,
				  section
				  601.
(b) Copies of resolutions adopted by the
				  board of directors of each association and by the board of trustees of each
				  savings bank which is a party to the merger, certified in each case by the
				  president or secretary of the association or bank as to compliance with the
				  requirements of Banking Law, section
				  601 (3).
(c) Copy of resolution adopted by the board
				  of trustees of each savings bank which is a party to the merger and which
				  operates a life insurance department pursuant to article VI-A of the Banking
				  Law, approving the discontinuance of such department, certified by the
				  president or vice-president and the treasurer or assistant treasurer of the
				  bank as to compliance with the requirements of Banking Law §
				  277.
(d) A statement as of the
				  preceding December 31 of the assets and liabilities of each party to the merger
				  and, on a pro forma basis, of the surviving savings and loan
				  association.
(e) Copies of the
				  income and expense reports of each party to the merger (as reported to the
				  supervisory authorities) for each of the three preceding calendar years and, on
				  a pro forma basis, of the surviving savings and loan association for the
				  preceding calendar year.
(f) A
				  statement showing a 12-months' projection for the surviving savings and loan
				  association of (1) the asset structure, (2) the indicated yield for each asset
				  category and for total assets, (3) earnings, (4) book net worth, (5) ratio of
				  book net worth to total assets and (6) liquidity. Describe any anticipated
				  material changes in the business of the surviving savings and loan association
				  which will affect projected net worth.
(g) Maps, including (l) the primary and
				  secondary service areas of each party to the merger, (2) the location of the
				  respective offices of each of the parties and (3) the location, except in the
				  case of a service area wholly within New York City, of every commercial bank,
				  savings bank and savings and loan association office located in or near such
				  primary and secondary service areas. A key to office numbers, scale of miles
				  and compass points should be provided.
(h) Copy of the proposed by-laws for the
				  surviving association.
(i) Copies
				  of any agreements, in addition to the plan of merger, relating to the
				  merger.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 110 - Merger of Savings and Loan Association or Savings Bank into a Savings and Loan Association › Section 110.4 - Additional documents

Current through Register Vol. 46, No. 28, July 10, 2024
The following additional documents shall be submitted to
					 the Superintendent as they become available to the parties:
(a) Copies of all approvals obtained pursuant
				  to Federal law and regulations.
(b)
				  Opinion of counsel for each party to the merger as to compliance of that party
				  with all requirements of Federal and State law in connection with the
				  merger.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 110 - Merger of Savings and Loan Association or Savings Bank into a Savings and Loan Association › Section 110.5 - Confidential information

Current through Register Vol. 46, No. 28, July 10, 2024
The following information is considered confidential and
					 should be furnished on separate pages which can be detached from the rest of
					 the application:
(a) that portion of
				  the plan of merger which specifically describes nonconforming deposits, loans
				  and borrowings (see section
				  110.1(f)), as required;
(b) the computation
				  of deposits for any office of each party to the merger required by section
				  110.2(c)(2);
(c) the listing of loan participations and
				  loan participants required by section
				  110.2(d)
				  (6);
(d) the information required by section
				  110.2(e)(2);
(e) the income and expense reports required
				  by section
				  110.3(e);
				  and
(f) the statement required by
				  section
				  110.3(f).
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 111 - Conversion of Savings and Loan Association into Savings Bank › Section 111.2 - Documents required

Current through Register Vol. 46, No. 28, July 10, 2024
The following documents shall be filed as part of the
					 application:
(a) Plan of conversion,
				  signed by the president of the association and attested by its secretary,
				  setting forth the terms and conditions of the conversion and the manner in
				  which it is to be accomplished, including the names of the principal executive
				  and administrative officers and trustees of the proposed savings
				  bank.
(b) Organization certificate,
				  as required by Banking Law, section
				  230, executed by a majority of the directors
				  of the association and by all of the persons who are to be the initial trustees
				  of the proposed savings bank.
(c)
				  Minutes of the meeting of shareholders of the association authorizing the
				  conversion, including the notice to shareholders, proxy material and plan of
				  conversion in the form submitted to shareholders, certified by the presiding
				  officer and by the secretary of the meeting and otherwise in accordance with
				  Banking Law, section 411. T he presiding officer and the secretary of the
				  meeting shall certify that
(1) the notice of
				  the meeting and proxy material were served personally or mailed to each
				  shareholder at his last known address at least 20 days prior to the
				  shareholders' meeting and
(2) the
				  plan of conversion in the form attached was the plan submitted to the
				  shareholders at such meeting, and was approved by the vote, in person or by
				  proxy, of the holders of at least 662/3 percent in amount of book value of all
				  outstanding shares of the association represented at the meeting held for that
				  purpose in accordance with Banking Law, section 411. S uch certificate shall
				  also indicate the actual vote of the shareholders for and against the plan of
				  conversion.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 111 - Conversion of Savings and Loan Association into Savings Bank › Section 111.3 - Additional documents

Current through Register Vol. 46, No. 28, July 10, 2024
The following additional documents shall be submitted to
					 the superintendent as they become available to the association:
(a) Copies of all approvals and notices
				  required by Federal law and regulations in connection with the
				  conversion.
(b) Opinion of counsel
				  for the association as to compliance with all requirements of Federal and State
				  law in connection with the conversion.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 112 - Conversion of Federal Savings and Loan Association to State Charter › Section 112.2 - Documents required

Current through Register Vol. 46, No. 28, July 10, 2024
The following documents shall be filed as part of the
					 application:
(a) Plan of conversion,
				  signed by the president of the association and attested by its secretary,
				  setting forth the terms and conditions of the conversion and the manner in
				  which it is to be accomplished, including the names of the principal executive
				  and administrative officers and directors.
(b) Organization certificate, as required by
				  Banking Law, section
				  375, executed by a majority of the directors
				  of the association.
(c) Minutes of
				  the meeting of shareholders of the association at which the plan of conversion
				  was approved, including the notice to shareholders, proxy material and plan of
				  conversion in the form submitted to shareholders, certified by the presiding
				  officer and by the secretary of the meeting and otherwise in accordance with
				  Banking Law, section 410. T he presiding officer and the secretary of the
				  meeting shall certify that (1) the notice of the meeting and proxy material
				  were served personally or mailed to each shareholder at his last known address
				  at least 10 days prior to the shareholders' meeting and (2) the plan of
				  conversion in the form attached was the plan submitted to the shareholders at
				  such meeting, and was approved by the vote, in person or by proxy, of the
				  holders of at least 662/3 percent in amount of book value of all outstanding
				  shares of the association, or at least 75 percent in amount of the book value
				  of the outstanding shares of the association represented at the meeting. Such
				  certificate shall also indicate the actual vote of the shareholders for and
				  against the plan of conversion.
(d)
				  Proposed by-laws of the State association as required by Banking Law,
				  §376.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Savings and Loan Associations › Supervisory Procedure 112 - Conversion of Federal Savings and Loan Association to State Charter › Section 112.3 - Additional documents

Current through Register Vol. 46, No. 28, July 10, 2024
The following additional documents shall be submitted to
					 the superintendent as they become available to the association:
(a) Copies of all notices, consents and
				  authorizations required by Federal law and regulations in connection with the
				  conversion.
(b) Opinion of counsel
				  for the association as to compliance with all requirements of Federal and State
				  law in connection with the conversion.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 1 - Licensing Policy for Branches, Agencies and Representative Offices of Foreign Banking Corporations › Section 1.1 - General statement

Current through Register Vol. 46, No. 28, July 10, 2024
No foreign banking corporation shall be granted a license
					 to establish and maintain a branch, agency or representative office in this
					 State, unless the superintendent shall have found that:
(a) the proposed branch, agency or
				  representative office will promote the public convenience and advantage;
				  and
(b) the character,
				  responsibility and general fitness of the foreign banking corporation, its
				  principal shareholders, its management and the person(s) designated to
				  represent such foreign banking corporation are such as to command confidence
				  and warrant belief that the business of such foreign banking corporation will
				  be honestly and efficiently conducted in accordance with the intent and purpose
				  of the New York Banking Law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 1 - Licensing Policy for Branches, Agencies and Representative Offices of Foreign Banking Corporations › Section 1.2 - General standards

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In
				  acting on any application to establish and maintain a branch or agency in this
				  State under Banking Law, section
				  26, or a representative office in this State
				  under Banking Law, section
				  221-c, the superintendent shall consider
				  the following factors:
(1) the economic and
				  political stability of the home country of the foreign banking
				  corporation;
(2) the degree to
				  which the foreign banking corporation and any foreign bank of which the foreign
				  banking corporation is a subsidiary is subject to comprehensive supervision and
				  regulation on a consolidated basis by the home country authorities;
(3) whether adequate information will be made
				  available initially on a continuing basis to the department on the operations
				  and activities of the foreign banking corporation and its affiliates;
(4) the financial strength and resources of
				  the foreign banking corporation (including compliance with international
				  capital guidelines as promulgated by the Bank for International Settlements,
				  the applicant's projected capital position, the history of the applicant's
				  operating performance, and its future prospects);
(5) the integrity, competence and experience
				  (including experience in international banking) of the management and principal
				  shareholders of the foreign banking corporation and the person(s) designated to
				  represent such foreign banking corporation;
(6) the supervisory evaluations of the
				  foreign banking corporation by other regulatory authorities;
(7) the size and significance of the foreign
				  banking corporation in relation to other banking corporations in its home
				  country and worldwide; and
(8) any
				  other factors the superintendent deems relevant.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
No foreign banking corporation may establish, maintain or
					 use a representative office in this State without having first obtained a
					 license from the superintendent. Representative offices of foreign banking
					 corporations that were lawfully registered under article V-B of the Banking Law
					 on or before September 1, 1992 shall be required to obtain a license from the
					 superintendent to maintain such representative office prior to September 1,
					 1994.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For purposes of this Supervisory Policy:
(a) affiliate means any company that
				  controls, is controlled by or is under common control with such foreign banking
				  corporation;
(b) banking
				  institution means any entity authorized by its charter to accept deposits and
				  to make loans;
(c) control means
				  the direct or indirect ownership, holding or control with power to vote of 25
				  percent or more of any class of voting stock or the ability to elect a majority
				  of the directors of a company;
(d)
				  foreign banking corporation means any banking institution organized under the
				  laws of any jurisdiction other than the United States, any state of the United
				  States, the District of Columbia, any territory of the United States or Puerto
				  Rico; and
(e) regional
				  administrative office means any representative office of a foreign banking
				  corporation that:
(1) is established by a
				  foreign banking corporation that operates one or more branches, agencies,
				  article XII investment companies or banks in this State;
(2) is located in the same city as, but not
				  on the same or contiguous premises (unless held out by the foreign banking
				  corporation or determined by the superintendent to be a separate office) of,
				  one or more of the foreign banking corporation's branches, agencies, article
				  XII investment companies or banks in this State; and
(3) manages, supervises or coordinates the
				  operations of the foreign bank or its affiliates, if any, in a particular
				  geographic region; and
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.3 - Permissible activities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				  activities that may be conducted by a representative office of a foreign
				  banking corporation in this State on behalf of such foreign banking corporation
				  shall be limited to the following:
(1)
				  solicitation of loans in principal amounts of $250,000 or more and, in
				  connection therewith, assembly of credit information, making of property
				  inspections and appraisals, securing of title information, preparation of
				  applications for loans (including making recommendations with respect to action
				  thereon);
(2) solicitation of
				  purchasers of loans from the foreign banking corporation;
(3) solicitation of parties to contract with
				  the foreign banking corporation for the servicing of its loans;
(4) solicitation of other banking business on
				  behalf of the foreign banking corporation, except for solicitation of deposits
				  or deposit-type liabilities;
(5)
				  conduct of research;
(6) acting as
				  liaison with customers of the foreign banking corporation;
(7) acting as liaison with correspondents of
				  the foreign banking corporation;
(8) execution of loan documents for loans in
				  principal amounts of $250,000 or more pursuant to specific written
				  authorization with respect to each such loan;
(9) in the case of regional administrative
				  offices, manage, supervise or coordinate the operations of the foreign bank or
				  its affiliates, if any, in a particular geographic region, including credit
				  approvals; and
(10) any other
				  activity approved in writing by the superintendent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.4 - Other activities

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation seeking written approval of
					 the superintendent to engage in an activity not listed in section
					 2.3(a)(1)-(9),
					 or otherwise prohibited under section
					 2.3(b),
					 of this Supervisory Policy shall submit a letter application to the
					 superintendent setting forth a description of the proposed activity and a
					 detailed explanation of why the representative office should be permitted to
					 engage in such activity.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.5 - Prior notice for regional administrative offices

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation may, unless otherwise advised
					 by the superintendent, obtain a license to establish a regional administrative
					 office in this State with 45 days prior written notice to the superintendent.
					 If a foreign banking corporation maintaining a licensed branch, agency, article
					 XII investment company or bank in this State is performing a regional
					 administrative office function on the same or contiguous premises as the
					 licensed or chartered entity of the foreign banking corporation, the foreign
					 banking corporation shall provide written notice to the superintendent of such
					 fact and the particular regional administrative office functions performed and
					 shall identify relevant regional office personnel. No separate license for
					 those regional administrative office functions will be issued, unless the
					 regional administrative office functions are either held out by the foreign
					 banking corporation or determined by the superintendent to be separate from the
					 other functions taking place on the premises. The foreign banking corporation
					 shall notify the superintendent within 45 days of any change in regional
					 administrative functions or personnel.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.6 - Prior notice for foreign banking corporations with branch or agency

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation which maintains a New York
					 State-licensed branch or agency may, unless otherwise advised by the
					 superintendent, obtain a license to establish a representative office in this
					 State with 45 days prior written notice to the
					 superintendent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Policy 2 - Representative Offices of Foreign Banking Corporations › Section 2.7 - Exemption from licensing and prior notice procedure for establishment of office performing limited administrative function

Current through Register Vol. 46, No. 28, July 10, 2024
Unless otherwise advised by the superintendent, a foreign
					 banking corporation not otherwise maintaining a licensed branch or agency in
					 this State may, with 45 days prior written notice to the superintendent,
					 establish a place of business of the foreign banking corporation in this State
					 at which location the foreign banking corporation engages solely in limited
					 administrative functions (such as back office support systems) in connection
					 with its banking activities that do not involve contact or liaison with
					 customers or potential customers. Unless otherwise advised by the
					 superintendent, if a foreign banking corporation already maintains a licensed
					 branch or agency in this State it may establish an office that engages solely
					 in limited administrative functions in connection with its banking activities
					 that do not involve contact or liaison with customers or potential customers
					 (such as back office support systems), by notifying the superintendent within
					 45 days of establishing such office.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 101 - Application by a Foreign Banking Corporation for a License to Establish a Branch or Agency › Section 101.1 - General information

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation seeking a license under
					 Banking Law, article V, to establish an initial branch or agency in New York
					 State shall submit to the superintendent an application on form FB-101
					 containing the information and documents required by section
					 101.3  of this
					 Supervisory Procedure, accompanied by payment of the fee specified in section
					 1.2  of
					 Supervisory Policy G 1 of this Title.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 101 - Application by a Foreign Banking Corporation for a License to Establish a Branch or Agency › Section 101.2 - Prior consultation

Current through Register Vol. 46, No. 28, July 10, 2024
Preparation of the application on form FB-101 will be
					 facilitated by prior consultation between the applicant and representatives of
					 the Banking Department. Arrangements for such a conference may be made and
					 copies of form FB-101 may be obtained through the Foreign and Wholesale Banks
					 Division of the Banking Department, at the address set forth in section
					 1.1  of
					 Supervisory Policy G 1 of this Title.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 101 - Application by a Foreign Banking Corporation for a License to Establish a Branch or Agency › Section 101.3 - Information and documents requested

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation seeking a license to
					 establish a branch or agency must submit the following information and
					 documents:
(a) an application
				  certificate in duplicate containing the information required by Banking Law,
				  section
				  201;
(b) the names of and biographical
				  information, including a description of the educational and business
				  background, for the two senior officers who will be in charge of the branch or
				  agency;
(c) a description of the
				  history and background of the foreign banking corporation, including the
				  following:
(1) history of the foreign banking
				  corporation;
(2) ranking by asset
				  size in the home country;
(3)
				  number of offices in the home country;
(4) description of organization structure of
				  the foreign banking corporation (including shareholders directly or indirectly
				  owning or controlling 10 percent or more of the capital stock of the applicant,
				  any of its affiliates and any agencies, branches or representative offices of
				  the applicant in the United States and other countries);
(5) description of management structure,
				  including board of directors and principal officers of the foreign banking
				  corporation;
(6) description of the
				  business of the foreign banking corporation;
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 101 - Application by a Foreign Banking Corporation for a License to Establish a Branch or Agency › Section 101.4 - Conversion of license from agency to branch, or branch to agency

Current through Register Vol. 46, No. 28, July 10, 2024
When an agency applies to convert to a branch, or when a
					 branch applies to convert to an agency, the information and documentation
					 required for an initial license in section
					 101.3(a), (l), (m), (p), (q), (r),
					 (u), (v), (w) and (z)  of this Supervisory
					 Procedure shall be submitted to the department.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 101 - Application by a Foreign Banking Corporation for a License to Establish a Branch or Agency › Section 101.5 - Additional branches and agencies

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation that has received a license
					 to open and maintain a branch or agency in this State may, unless otherwise
					 advised by the superintendent, open and occupy an additional branch or agency
					 with 30 days prior notice to the superintendent. Such notice shall contain the
					 information required under section
					 101.3(b), (l) through (s), (w) and
					 (z)  of this Supervisory
					 Procedure.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 102 - Application by a Foreign Banking Corporation for a License to Establish or Maintain a Representative Office › Section 102.1 - General information

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation seeking a license under
					 Banking Law, article V-B and Supervisory Policy FB 2, to establish, maintain or
					 use a representative office in New York State shall submit to the
					 superintendent an application on form FB-102, or written notification as
					 appropriate, containing the information and documents required by section
					 102.3 
					 of this Supervisory Procedure, or written notification as appropriate,
					 accompanied by payment of the fee specified in section
					 1.2  of
					 Supervisory Policy G 1 of this Title.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 102 - Application by a Foreign Banking Corporation for a License to Establish or Maintain a Representative Office › Section 102.2 - Prior consultation

Current through Register Vol. 46, No. 28, July 10, 2024
Preparation of the application on form FB-102 will be
					 facilitated by prior consultation between the applicant and representatives of
					 the Banking Department. Arrangements for such a conference may be made through
					 the Foreign and Wholesale Banks Division of the Banking Department, at the
					 address set forth in section
					 1.1  of
					 Supervisory Policy G 1 of this Title.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 102 - Application by a Foreign Banking Corporation for a License to Establish or Maintain a Representative Office › Section 102.3 - Information and documents requested

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation seeking a license to
					 establish or maintain a representative office must submit the following
					 information and documents:
(a) the
				  name and principal place of business of such foreign banking
				  corporation;
(b) the place where
				  the proposed representative office will be located;
(c) the names of and biographical
				  information, including a description of the educational and business
				  background, for any person(s) who shall act as representative(s) of the
				  corporation;
(d) a description of
				  the history and background of the foreign banking corporation, including the
				  following:
(1) brief history of the foreign
				  banking corporation;
(2) ranking by
				  asset size in the home country;
(3)
				  number of offices in the home country;
(4) description of organization structure of
				  the foreign banking corporation (including shareholders directly or indirectly
				  owning or controlling 10 percent or more of the capital stock of the applicant,
				  its affiliates and any agencies, branches or representative offices of the
				  applicant in the United States and other countries);
(5) description of management structure,
				  including board of directors and principal officers of the foreign banking
				  corporation;
(6) description of the
				  business of the foreign banking corporation;
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 102 - Application by a Foreign Banking Corporation for a License to Establish or Maintain a Representative Office › Section 102.4 - Prior notice for regional administrative offices

Current through Register Vol. 46, No. 28, July 10, 2024
The notice required by section
					 2.4  of Supervisory Policy
					 FB 2 for establishing a regional administrative office shall contain the
					 information required under section
					 102.3(a)-(c),
					 (m)-(n), (p)-(r), (u) and (y)  of this
					 Supervisory Procedure.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 102 - Application by a Foreign Banking Corporation for a License to Establish or Maintain a Representative Office › Section 102.5 - Foreign banking corporations with branch or agency

Current through Register Vol. 46, No. 28, July 10, 2024
The notice required by section
					 2.5  of
					 Supervisory Policy FB 2 for a foreign banking corporation currently maintaining
					 a New York State-licensed branch or agency to obtain a license to establish a
					 representative office in New York State shall contain the information required
					 under section
					 102.3(a)-(c),
					 (l)- (r), (t)-(w) and (y)  of this Supervisory
					 Procedure.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 102 - Application by a Foreign Banking Corporation for a License to Establish or Maintain a Representative Office › Section 102.6 - Notice for establishment of an office performing limited administrative functions

Current through Register Vol. 46, No. 28, July 10, 2024
The notice required by section
					 2.7 
					 of Supervisory Policy FB 2 for establishing an office performing limited
					 administrative functions shall contain the following information:
(a) the name and address of the foreign
				  banking corporation;
(b) the
				  location in New York of the office performing limited administrative functions
				  and the office(s) of the bank for which the New York office is performing the
				  limited administrative functions;
(c) the activities of the New York
				  office;
(d) a description of the
				  staffing of the New York office; and
(e) any additional material as requested by
				  the superintendent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 103 - Authorization of Fiduciary Powers for Foreign Banking Corporations › Section 103.1 - General statement

Current through Register Vol. 46, No. 28, July 10, 2024
Pursuant to the provisions of section 201-b  of the Banking Law, the
					 superintendent is prepared to authorize a New York State-licensed branch or
					 agency of a foreign banking corporation to exercise any or all of the powers
					 specified in sections 100, 100-a, 100-b and
					 100-c  of the Banking Law, in accordance
					 with applicable law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 103 - Authorization of Fiduciary Powers for Foreign Banking Corporations › Section 103.2 - General criteria

Current through Register Vol. 46, No. 28, July 10, 2024
In passing upon an application pursuant to section 201-b  of the Banking Law, the
					 superintendent will consider, in addition to any other facts or circumstances
					 deemed proper, the following:
(a) the
				  financial condition of the applicant;
(b) the qualifications and experience of the
				  proposed officer or officers of the trust operation, and the nature of the
				  supervision to be exercised over the fiduciary activities;
(c) the type or types of fiduciary activities
				  proposed to be undertaken; and
(d)
				  the plan of the applicant's trust operation, including information as to the
				  manner in which legal, accounting, investment and recordkeeping functions of
				  such operation are to be performed, and information as to any plans to obtain
				  related services from outside sources.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 103 - Authorization of Fiduciary Powers for Foreign Banking Corporations › Section 103.3 - Application

Current through Register Vol. 46, No. 28, July 10, 2024
(a) An application
				  for authority to exercise fiduciary powers shall be submitted in letter form
				  and shall contain, in reasonable detail, information concerning the personnel
				  and operations of the proposed trust operation as described in section
				  103.2(b)-(d) 
				  of this Supervisory Procedure.
(b)
				  In addition, applicant shall furnish an opinion of counsel:
(1) that the laws of the country in which the
				  bank is incorporated, as well as the bank's articles of incorporation or
				  similar document, empower the bank to engage in the type or types of fiduciary
				  activities proposed to be undertaken;
(2) that the bank has taken all necessary
				  actions, corporate or otherwise, as are necessary to authorize the filing of
				  such application and to permit its personnel to undertake fiduciary engagements
				  in New York; and
(3) that the
				  written appointment of the superintendent as attorney for service of process,
				  and the written designation relative thereto, having been filed with the
				  superintendent pursuant to Banking Law, section
				  200(3), extend to
				  transactions involving the bank as fiduciary.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 103 - Authorization of Fiduciary Powers for Foreign Banking Corporations › Section 103.4 - Application of other regulations

Current through Register Vol. 46, No. 28, July 10, 2024
The provisions of Supervisory Procedure CB 119 of this
					 Title shall apply to any branch or agency of a foreign banking corporation
					 which proposes to establish a common trust fund, and the provisions of Part 22
					 of this Title shall apply to any such licensee maintaining such a fund. The
					 terms trust company and board of directors, as used in CB 119 and Part 22 of
					 this Title, shall be deemed to refer to the trust operation of the licensed New
					 York branch or agency and the board of directors of the licensee foreign
					 banking corporation, respectively.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 104 - Application by a Foreign Banking Corporation for Permission to Change Its Name › Section 104.1 - General information

Current through Register Vol. 46, No. 28, July 10, 2024
A foreign banking corporation maintaining a New York
					 State-licensed branch, agency or representative office that proposes to change
					 its name shall submit a letter application to the
					 superintendent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Supervisory Policies and Procedures › Foreign Banking Corporations › Supervisory Procedure 104 - Application by a Foreign Banking Corporation for Permission to Change Its Name › Section 104.2 - Information and documents required

Current through Register Vol. 46, No. 28, July 10, 2024
The letter application required pursuant to section
					 104.1  of this
					 Supervisory Procedure shall contain a description of the reasons for and
					 indicate the effective date of such change of name and shall be accompanied by
					 certified copies (with translation into English if applicable) of:
(a) resolutions adopted by the foreign
				  banking corporation's board of directors authorizing the change of name;
				  and
(b) a statement from the home
				  country authorities that such authorities approve or do not object to the
				  change of name.