reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 115 - Anti-money Laundering Programs For Applications For Charters, Acquisitions And Mergers And Changes Of Control › Section 115.4 - Waivers

Current through Register Vol. 46, No. 28, July 10, 2024
In considering an application, the department may determine,
				  for good cause shown, that lack of compliance with any of the requirements of
				  this Part does not necessarily preclude approval of the
				  application.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 116 - Maintenance Of Anti-money Laundering Compliance Programs By Banking Organizations And Foreign Banking Corporations Licensed To Maintain A Branch Or Agency › Section 116.1 - Covered entities

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				This Part shall apply to all "banking organizations" and "foreign banking
				corporations."
(b) The term banking
				organization shall have the meaning ascribed to it in section 2 of the New York
				Banking Law.
(c) The term foreign
				banking corporation shall mean any branch, agency or representative office
				located in New York State of a foreign banking corporation licensed to maintain
				such a facility under article V or article V-B of the Banking Law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 116 - Maintenance Of Anti-money Laundering Compliance Programs By Banking Organizations And Foreign Banking Corporations Licensed To Maintain A Branch Or Agency › Section 116.2 - Anti-money laundering programs

Current through Register Vol. 46, No. 28, July 10, 2024
Every banking organization and every foreign banking
				  corporation, in order to guard against money laundering through their
				  institutions, shall establish and maintain an anti-money laundering program
				  that complies with applicable Federal anti-money laundering laws (31 U.S.C.
				  chapter 53, subchapter II)[FN*], including the obligation to file suspicious
				  activity reports ("SARs") (31 U.S.C.
				  5318 [g])* and a customer identification
				  program (31 U.S.C.
				  5318 [l])*, and regulations promulgated by
				  the United States Department of Treasury ( 12 CFR part 103.120)*, and, as
				  appropriate, regulations of the Board of Governors of the Federal Reserve Board
				  (12 CFR parts 208.63 and 211.24)*, the Federal Deposit Insurance Corporation
				  ( 12 CFR part 326.8)* and the National Credit Union Administration (12 CFR part
				  748.2)*. In addition, when ordered, each such entity shall provide within 30
				  days a written report to the Superintendent of Banks (the "superintendent")
				  detailing the extent to which it has established such a program. Every banking
				  organization and foreign banking corporation also shall comply with applicable
				  regulations issued by the Office of Foreign Assets Control of the United States
				  Department of the Treasury ("OFAC") ( 31 CFR part 500  et. seq.)*.
(a) For purposes of this Part, the required
				anti-money laundering program shall, at a minimum:
(1) provide for a system of internal controls
				to assure ongoing compliance;
(2)
				provide for independent testing for compliance to be conducted by bank
				personnel or by an outside party;
(3) designate an individual or individuals
				responsible for coordinating and monitoring day-to-day compliance;
				and
(4) provide training for
				appropriate personnel.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 116 - Maintenance Of Anti-money Laundering Compliance Programs By Banking Organizations And Foreign Banking Corporations Licensed To Maintain A Branch Or Agency › Section 116.3 - Additional reports

Current through Register Vol. 46, No. 28, July 10, 2024
Every banking organization and every foreign banking
				  corporation shall provide such additional reports regarding its compliance with
				  this Part as shall be directed by the superintendent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 117 - LENDING LIMITS: INCLUSION OF CREDIT EXPOSURES ARISING FROM DERIVATIVE TRANSACTIONS › Section 117.2 - General Rule

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In
				computing the amount of loans of a bank outstanding to a person under section
				103.1  of the
				Banking Law or to a borrower under section 235.8 -c of the Banking Law at any
				specific time, the credit exposures of the bank arising from derivative
				transactions with respect to such person or borrower shall be
				included.
(b) Such credit exposures
				shall be calculated as the sum of the bank's credit exposure to such person or
				borrower as a counterparty arising from derivative transactions other than
				credit derivatives plus the bank's credit exposure to such person or borrower
				as a counterparty arising from credit derivatives plus, where such person or
				borrower is the obligor on a reference exposure, the bank's credit exposure
				with respect to such person or borrower as obligor on such reference exposure
				arising from credit derivatives.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 117 - LENDING LIMITS: INCLUSION OF CREDIT EXPOSURES ARISING FROM DERIVATIVE TRANSACTIONS › Section 117.3 - Credit Derivatives

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Credit exposure to a counterparty.
A bank shall calculate its credit exposure to a counterparty
				  arising from credit derivatives by adding the net notional value of all
				  protection purchased from the counterparty with respect to each reference
				  exposure.
(b)
Credit
				exposure with respect to a reference exposure.
A bank shall calculate the credit exposure with respect to a
				  reference exposure arising from credit derivatives entered by the bank by
				  adding the notional value of all protection sold on such reference
				  exposure.
(c)
Exposure
				mitigants.
In computing the exposures in subdivisions (a) and (b) of
				  this section, the bank may take into account exposure mitigants to the extent
				  specified in section
				  117.4  of this
				  Part.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 117 - LENDING LIMITS: INCLUSION OF CREDIT EXPOSURES ARISING FROM DERIVATIVE TRANSACTIONS › Section 117.4 - Exposure Mitigants

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Netting.
In computing the credit exposures arising from derivative
				  transactions of a bank with a particular counterparty with whom such bank has
				  in force a qualifying master netting agreement, such bank may net the credit
				  exposures covered by such qualifying master netting agreement.
(b)
Collateral.
In computing the credit exposures arising from derivative
				  transactions of a bank with a particular counterparty, such credit exposures
				  may be reduced to the extent that such credit exposures have been secured with
				  readily marketable collateral under an effective margining arrangement. The
				  amount of such reduction shall be equal to the value of such collateral
				  multiplied by the percentage applicable to such type of collateral as may be
				  prescribed by the superintendent from time to time.
(c)
Hedging.
In computing the credit exposures arising from derivative
				  transactions of a bank with a particular counterparty or with respect to a
				  particular reference exposure, such credit exposures may be reduced to the
				  extent hedged by an eligible credit derivative from an eligible protection
				  provider.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 117 - LENDING LIMITS: INCLUSION OF CREDIT EXPOSURES ARISING FROM DERIVATIVE TRANSACTIONS › Section 117.5 - Exception

Current through Register Vol. 46, No. 28, July 10, 2024
In computing its credit exposures arising from derivative
				  transactions, a bank need not include credit exposures to a qualifying central
				  counterparty that has been designated by the Financial Stability Oversight
				  Council as a financial market utility that is, or is likely to become,
				  systemically important.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 117 - LENDING LIMITS: INCLUSION OF CREDIT EXPOSURES ARISING FROM DERIVATIVE TRANSACTIONS › Section 117.6 - Alternate Valuation Method

Current through Register Vol. 46, No. 28, July 10, 2024
With the permission of the superintendent, a bank may utilize
				  an alternate method to evaluate its credit exposures arising from derivative
				  transactions.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 117 - LENDING LIMITS: INCLUSION OF CREDIT EXPOSURES ARISING FROM DERIVATIVE TRANSACTIONS › Section 117.8 - Residual Authority of the Superintendent

Current through Register Vol. 46, No. 28, July 10, 2024
Where the method or methods used by a bank fails to
				  appropriately reflect the credit exposures of the bank arising from derivative
				  transactions, the superintendent may direct such bank to use an alternate
				  method or methods.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 119 - Emergency Relief For New Yorkers Who Can Demonstrate Financial Hardship As A Result Of Covid-19 › Section 119.1 - Statement of purpose

Current through Register Vol. 46, No. 28, July 10, 2024
By Executive Order No. 202, issued March 7, 2020, Governor
				  Andrew M. Cuomo declared a disaster emergency in the State of New York in
				  response to the outbreak of COVID-19. COVID-19 presents a public health crisis
				  and economic challenge to the State unprecedented in modern history. Responding
				  to COVID-19 requires a coordinated effort by all New Yorkers. For many,
				  COVID-19 presents an unexpected hardship that will strain their limited
				  resources. The measures responsive to the disaster emergency, required to
				  protect the health and safety of New Yorkers, limit the ability of many people
				  to earn a livelihood. In recognition of the adversity many will face, Governor
				  Cuomo issued, on March 21, 2020, Executive Order 202.9, directing institutions
				  regulated by the Department of Financial Services (the department) to provide,
				  under reasonable and prudent circumstances, financial relief to consumers in
				  New York experiencing a financial hardship due to the COVID-19 pandemic.
The aim of Executive Order 202.9 and this regulation is to
				  provide certain financial relief during this pandemic to those who can
				  demonstrate a financial hardship as a result of the COVID-19 pandemic, subject
				  to the safety and soundness of the regulated institutions. This regulation
				  establishes standards and procedures that regulated institutions must follow in
				  their review of requests for relief and determinations to provide financial
				  relief to those experiencing financial hardship, consistent with the purposes
				  of Executive Order 202.9, this regulation, and the safe and sound practices of
				  the regulated institutions. Such relief is critical to help individuals and to
				  limit the impact of this pandemic on the State's welfare and
				  economy.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 119 - Emergency Relief For New Yorkers Who Can Demonstrate Financial Hardship As A Result Of Covid-19 › Section 119.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
COVID-19 relief
means certain financial relief provided by a
				New York regulated institution under the terms of this regulation pursuant to
				Executive Order 202.9.
(b)
COVID-19 pandemic
means the global outbreak of COVID-19, the
				disease caused by the novel coronavirus first identified in Wuhan, China, in or
				about December 2019, that has been detected in increasing numbers in the United
				States, including the State of New York.
(c)
Regulated institution
means any New York regulated banking organization as defined under New York
				Banking Law and any New York regulated mortgage servicer entity subject to the
				authority of the department.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 119 - Emergency Relief For New Yorkers Who Can Demonstrate Financial Hardship As A Result Of Covid-19 › Section 119.3 - COVID-19 Relief Program

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Pursuant to Executive Order 202.9 and for the duration specified therein, which
				may be extended, New York regulated institutions are required to, in addition
				to adhering to the servicing requirements of Part 419:
(1) make applications for forbearance of any
				payment due on a residential mortgage of a property located in New York, widely
				available to any individual who resides in New York and who demonstrates
				financial hardship as a result of the COVID-19 pandemic; and
(2) subject to the safety and soundness
				requirements of the regulated institution, grant such forbearance for a period
				of 90 days to any such individual.
Notwithstanding anything else to the contrary herein, this
				  regulation is not applicable to, and does not affect any mortgage loans made,
				  insured, or securitized by any agency or instrumentality of the United States,
				  any Government Sponsored Enterprise, or a Federal Home Loan Bank, or the rights
				  and obligations of any lender, issuer, servicer or trustee of such obligations,
				  including servicers for the Government National Mortgage
				  Association.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 200 - Effect Of Repeal Of Regulations › Section 200.1 - Recodification effective may 1, 1969

Current through Register Vol. 46, No. 28, July 10, 2024
The repeal effective May 1, 1969 of the general and special
				  regulations of the Banking Board referred to below in subdivisions (a) and (b)
				  of this section shall not impair or affect in any way the validity of any
				  investment or loan made or any other action taken or not taken in compliance
				  therewith or in reliance thereon.
(a)
				General regulations (as in effect on April 30, 1969):
(1) Part 2, Special Notice of Meeting of
				Banking Board.
(2) Part 6, Federal
				Housing Administration Loans.
(3)
				Section
				9.1,
				Export-Import Bank loans.
(4)
				Section
				9.2, Temporary office
				in emergency.
(5) Section
				9.3, Suspension
				of business during air raids or test periods.
(6) Section
				9.6,
				R.F.C. loans.
(7) Section
				9.7,
				Savings bonds.
(8) Section
				9.8,
				Directors absent in armed forces.
(9) Section 9.9, Limited banking
				facilities.
(10) Section 9.10,
				Pledge of assets to secure deposits.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 201 - Exceptions From Part 20 (payment Of Interest On Commercial Bank Deposits) › Section 201.1 - Textile banking company

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby suspends section 20.1 (prohibiting
				  the payment of interest on demand deposits) of Part 20 of this Title insofar as
				  it applies to Textile Banking Company.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 201 - Exceptions From Part 20 (payment Of Interest On Commercial Bank Deposits) › Section 201.2 - Macy's bank

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby suspends section 20.1 (prohibiting
				  the payment of interest on demand deposits) of Part 20 of this Title insofar as
				  it applies to Macy's Bank.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 201 - Exceptions From Part 20 (payment Of Interest On Commercial Bank Deposits) › Section 201.3 - Savings banks trust company

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby suspends section 20.2(a)(1), (2) and
				  (3)(i) (regulating the payment of interest on time deposits, other than savings
				  deposits) of Part 20 of this Title insofar as it applies to Savings Banks Trust
				  Company, provided that such suspension shall be effective only so long as
				  Savings Banks Trust Company shall accept no deposits except:
(a) deposits of duly constituted mutual
				savings banks or arising out of the corporate business thereof; and
(b) deposits of public monies.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.1 - Discount corporation of new york

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for any officer,
				  director or employee of any bank or trust company organized or existing under
				  the laws of this State to be at the same time an officer, director or employee
				  of Discount Corporation of New York, provided Discount Corporation of New York
				  confines its dealings in securities to underwriting, distributing and dealing
				  in such securities as national banks may lawfully underwrite and deal in
				  pursuant to paragraph seventh of section 5136, Revised Statutes (12 U.S.C. sec. 24).
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.2 - Jock k. finlayson

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Jock K.
				  Finlayson to be at the same time a director of The Royal Bank of Canada Trust
				  Company and a director of RoyFund Ltd., Montreal, Canada, provided that there
				  continue to be no business transactions between the fund and the trust
				  company.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.6 - Savings banks trust company

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for present and
				  future directors and officers of Savings Banks Trust Company to serve at the
				  same time directors, officers or employees of M.S.B. Fund,
				  Inc.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.11 - Samuel rothberg

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Samuel
				  Rothberg to be at the same time a director of Bank Leumi Trust Company of New
				  York and president of Capital for Israel, Inc. and a director of Development
				  Corporation for Israel.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.15 - John william campo

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for John William
				  Campo to be at the same time a director of Central State Bank and a registered
				  representative of Ter Bush & Putnam Securities, Inc., a company engaged in
				  the retail sale of shares of various open-end mutual funds.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.17 - Henry m. marx

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Henry M. Marx
				  to be at the same time a director of the Canadian Bank of Commerce Trust
				  Company and a director of American Investment Trust (N.V.) Curacao,
				  Netherlands, West Indies.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.18 - Harry w. fowler, ruppert e. hutton, john b. hadik and landon thomas, jr

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Harry W.
				  Fowler, Ruppert E. Hutton, John B. Hadik and Landan Thomas, Jr. to be at the
				  same time directors and/or officers of Fiduciary Trust Company of New York
				  ("Fiduciary New York") and directors and/or officers of Akimco International
				  Ltd., a Bahamian management company and a 50-percent-owned subsidiary of
				  Fiduciary Trust Company of New York (Geneva) S.A., a wholly-owned subsidiary of
				  Fiduciary New York.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.26 - Martin m. rosen

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Martin M.
				  Rosen to be a director of The Atlantic Bank of New York while president of
				  Model, Roland & Co., Inc., a New York stockbrokerage firm, chairman of The
				  First Washington Securities Corporation, investment bankers headquartered in
				  Washington, D.C. and chairman of First Washington International Corporation,
				  located in New York and a member of the National Association of Securities
				  Dealers.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.27 - The depository trust company

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for present and
				  future directors of The Depository Trust Company to serve at the same time as
				  directors, officers, or employees of firms engaged in the process of
				  underwriting, distributing or dealing in securities, provided that The
				  Depository Trust Company confines its investments in securities to obligations
				  of the United States government or its agencies and to obligations of any State
				  or political subdivision thereof.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.28 - Ruppert e. hutton

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Ruppert E.
				  Hutton to be at the same time a vice president of Fiduciary Trust Company of
				  New York and a director of Gerifonds, a management company under the laws of
				  Switzerland.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.29 - Kirk t. dornbush

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Kirk T.
				  Dornbush to be at the same time a director of the New York Venture Fund, Inc.
				  and a director of the First Women's Bank.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.32 - Daniel kelly

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Daniel Kelly
				  to be at the same time a director of Hartford Trust Company and a limited
				  partner of Salomon Brothers, a New York Stock Exchange member firm and
				  underwriter.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 203 - Permission To Serve As Director, Officer Or Employee Of Securities Firms › Section 203.33 - Triston e. beplat

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board pursuant to authority granted under section 14 (1)(k) and
				  130 (4)  of the Banking Law
				  hereby grants permission for Triston E. Beplat to be at the same time a
				  director of Daiwa Bank Trust Company and continue to serve as a director of the
				  Japan Fund, Inc.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 204 - Authorization To Act As Financial Agent Of United States Government › Section 204.1 - J. henry schroder banking corporation

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby authorizes J. Henry Schroder Banking
				  Corporation,
(a) to act as financial
				agent of the United States government in connection with the sale of United
				States government securities issued under the authority of the Second Liberty
				Bond Act, as amended, and to receive deposits arising solely as the result of
				subscriptions made by or through it for such United States government
				securities;
(b) to perform all such
				reasonable duties as may be required of it as depositary of the public money
				comprising such deposits, and as financial agency of the United States
				government;
(c) to pledge assets or
				furnish other security, satisfactory in form and amount to the Secretary of the
				Treasury of the United States, for the safekeeping and prompt payment of such
				deposits and for the faithful performance of its duties as such financial agent
				and
(d) to receive money for
				transmission and to transmit the same from the United States to any foreign
				country and from any foreign country to the United States.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 204 - Authorization To Act As Financial Agent Of United States Government › Section 204.2 - French-american banking corporation

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby authorizes French-American Banking
				  Corporation,
(a) to act as financial
				agent of the United States government in connection with the sale of the United
				States government securities issued under the authority of the Second Liberty
				Bond Act, as amended, and to receive deposits arising solely as the result ot
				subscriptions made by or through it for such United States government
				securities;
(b) to perform all such
				reasonable duties as may be required of it as depositary of the public money
				comprising such deposits, and as financial agent of the United State government
				and
(c) to pledge assets or furnish
				other security, satisfactory in form and amount to the secretary of the
				treasury of the United States, for the safekeeping and prompt payment of such
				deposits and for the faithful performance of its duties as such financial
				agent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 204 - Authorization To Act As Financial Agent Of United States Government › Section 204.3 - Discount corporation of new york

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby authorizes Discount Corporation of
				  New York,
(a) to act as financial
				agent of the United States government in connection with the sale of United
				States government securities issued under the authority of the Second Liberty
				Bond Act, as amended, and to receive deposits arising solely as the result of
				subscriptions made by or through it for such United States government
				securities;
(b) to perform all such
				reasonable duties as may be required of it as depositary of the public money
				comprising such deposits, and as financial agent of the United States
				Government and
(c) to pledge assets
				or furnish other security, satisfactory in form and amount to the Secretary of
				the Treasury of the United States, for the safekeeping and prompt payment of
				such deposits and for the faithful performance of its duties as such financial
				agent.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 204 - Authorization To Act As Financial Agent Of United States Government › Section 204.5 - Nordic american banking corporation

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby authorizes Nordic American Banking
				  Corporation,
(a) to act as financial
				agent of the United States government in connection with the sale of United
				States government securities issued under the authority of the Second Liberty
				Bond Act, as amended, and to receive deposits arising solely as the result of
				subscriptions made by or through it for such United States Government
				securities.
(b) to perform all such
				reasonable duties as may be required of it as depository of the public money
				comprising such deposits, and as financial agent of the United States
				government;
(c) to pledge assets or
				furnish other security, satisfactory in form and amount to the Secretary of the
				Treasury of the United States, for the safekeeping and prompt payment of such
				deposits and for the faithful performance of its duties as such financial agent
				and
(d) to receive money for
				transmission and to transmit the same from the United States to any foreign
				country and from any foreign country to the United States.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 204 - Authorization To Act As Financial Agent Of United States Government › Section 204.6 - Baer american banking corporation

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby authorizes Baer American Banking
				  Corporation to receive money for transmission and to transmit the same from the
				  United States to any foreign country and from any foreign country to the United
				  States.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 206 - Equity Method Of Accounting › Section 206.1 - Equity method of accounting for investments in subsidiaries

Current through Register Vol. 46, No. 28, July 10, 2024
Banks and trust companies, savings banks and savings and loan
				  associations may report investments in subsidiaries in conformity with the
				  "equity method of accounting" as approved by the Accounting Principals Board of
				  the Amercian Institute of Certified Public Accountants, provided, however, that
				  once this accounting method is adopted, it shall be consistently applied and
				  will not be discontinued without the prior approval of the Superintendent of
				  Banks.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 207 - Permission To Serve As An Executive Officer, Director Or Trustee Of Banks, Trust Companies, Savings Banks, Savings And Loan Associations, Banking Corporations, National Banks, Federal Savings And Loan Associations And Bank Holding Companies › Section 207.1 - The depository trust company

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for present and
				  future executive officers of banks, trust companies, bank holding companies,
				  foreign banking corporations maintaining branches in this State and national
				  banks located in this State to serve at the same time as directors or members
				  of committees authorized by the board of directors, or both, of The Depository
				  Trust &Clearing Corporation and its subsidiaries.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 207 - Permission To Serve As An Executive Officer, Director Or Trustee Of Banks, Trust Companies, Savings Banks, Savings And Loan Associations, Banking Corporations, National Banks, Federal Savings And Loan Associations And Bank Holding Companies › Section 207.2 - Freedom national bank

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Frank R.
				  Rosenbach a vice president of Morgan Guaranty Trust Company of New York to
				  serve as a director of Freedom National Bank of New York.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 207 - Permission To Serve As An Executive Officer, Director Or Trustee Of Banks, Trust Companies, Savings Banks, Savings And Loan Associations, Banking Corporations, National Banks, Federal Savings And Loan Associations And Bank Holding Companies › Section 207.3 - Signature bank

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board hereby grants permission for Mr. Scott
				  Shay, an executive officer of Signature Bank, to serve as a director of Bank
				  Hapoalim, B.M.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 209 - Procedure For Meetings Of Members And For Nomination And Election Of Members Of The Board Of Directors And Certain Committees Of The Municipal Credit Union Of The City Of New York While The Superintendent Is In Possession Of The Business And Property Thereof Pursuant To Section 606 Of The Banking Law › Section 209.1 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For the purpose of this Part:
(a) Superintendent shall mean the
				Superintendent of Banks of the State of New York.
(b) MCU shall mean the Municipal Credit Union
				of the City of New York.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 209 - Procedure For Meetings Of Members And For Nomination And Election Of Members Of The Board Of Directors And Certain Committees Of The Municipal Credit Union Of The City Of New York While The Superintendent Is In Possession Of The Business And Property Thereof Pursuant To Section 606 Of The Banking Law › Section 209.2 - Application

Current through Register Vol. 46, No. 28, July 10, 2024
This regulation shall govern all meetings of the members of
				  the MCU while the superintendent is in possession of the MCU's business and
				  property. To the extent that the bylaws of the MCU are inconsistent or conflict
				  with the Banking Law, this Part, or any action taken by the superintendent
				  hereunder, such bylaws are superseded and shall have no force and
				  effect.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter II - Special Regulations Of The Banking Board › Part 209 - Procedure For Meetings Of Members And For Nomination And Election Of Members Of The Board Of Directors And Certain Committees Of The Municipal Credit Union Of The City Of New York While The Superintendent Is In Possession Of The Business And Property Thereof Pursuant To Section 606 Of The Banking Law › Section 209.3 - Meetings of members

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				annual meeting of the members of the MCU, for the purposes of electing members
				to serve on the board of directors, supervisory committee and credit committee,
				and transacting such other business as may properly come before the meeting,
				shall be held at such time and place as shall be fixed by the
				superintendent.
(b) The
				superintendent, at least 120 days prior to the annual meeting, shall appoint a
				nominating committee of not less than 5 nor more than 13 members. Members of
				the nominating committee need not be members of the MCU. The nominating
				committee shall make nominations for members to serve on the board of directors
				and the credit and supervisory committees, and deliver such nominations in
				writing to the superintendent at least 60 days prior to the date set for the
				annual meeting.
(c) Additional
				nominations may be made by written petition as specified in the bylaws of the
				MCU, except that:
(1) the form of the
				petition shall be determined by the superintendent and shall be printed and
				made available at least 75 days before the annual meeting; and
(2) signatures on nominating petitions shall
				be valid as long as the member signing shall have been a member of the MCU for
				at least 90 days immediately preceding the date of the signing of the petition,
				and shall have furnished on the petition next to the member's name either:
(i) the member's address;
(ii) the member's account number;
				or
(iii) the member's social
				security number.
Petitions shall be filed with the superintendent at least 40
				  days prior to the date set for the annual meeting.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.1 - Reports

Current through Register Vol. 46, No. 28, July 10, 2024
Every organization organized, licensed or registered under
					 the Banking Law shall submit a report to the superintendent immediately upon
					 the discovery of any of the following events:
(a) embezzlement, misapplication, larceny,
				  forgery, fraud, dishonesty, making of false entries and omission of true
				  entries, or other misconduct, whether or not a criminal offense, in which any
				  director, trustee, partner, officer, employee (excluding tellers), or agent of
				  such organization is involved;
(b)
				  embezzlement, misapplication, larceny, forgery, fraud, dishonesty, making of
				  false entries and omission of true entries, or other misconduct, whether or not
				  a criminal offense, in which any teller of such organization is
				  involved;
(c) holdups, thefts,
				  burglaries, and check kiting schemes;
(d) money payments which result in a loss by
				  reason of having been drawn against nonexistent accounts or on nonexistent
				  banks or by reason of the maker's signature or the signature of any endorser
				  having been forged on checks, notes, withdrawal orders, letters of credit,
				  bills of lading or other documents.
For purposes of this Part, a disappearance of securities
					 shall constitute a reportable item under subdivision (a) of this section in
					 which case the organization shall have up to five business days after discovery
					 thereof in which to make such report except as provided in section
					 300.5 
					 of this Part.
In September 1981 the text of section 300.1 was
						inadvertently reinstated to read as it did prior to the June 16, 1981
						amendment. In July 1988 the text of 300.1 was corrected to correspond with the
						June 16, 1981 amendment.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.2 - Content of reports

Current through Register Vol. 46, No. 28, July 10, 2024
Each report submitted pursuant to section
					 300.1  of this Part shall
					 set forth all pertinent details known at the time of the report, including the
					 following information:
(a) estimate of
				  the amount of the loss;
(b) name,
				  address and position of every offender, if known;
(c) statement as to insurance coverage;
				  whether the matter has been reported to the insurance carrier and the name and
				  address of such insurance carrier;
(d) statement, if the matter has not been
				  reported to the insurance carrier, that the relevant contract(s) of insurance
				  has been reviewed to make certain that such failure to report does not
				  jeopardize all or any part of the insurance coverage;
(e) if the loss is covered by insurance and
				  no claim has been made, the reasons therefor;
(f) statement as to whether the matter has
				  been reported to the appropriate law enforcement authorities and the name and
				  address of any such authority to whom a report has been submitted;
				  and
(g) extent of reimbursement
				  received, if any.
If any such organization is required by other governmental
					 authority to report any of the above-mentioned events to the Banking
					 Department, such report shall constitute a report pursuant to this Part so long
					 as the information required hereunder is given.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.3 - Subsequent reports

Current through Register Vol. 46, No. 28, July 10, 2024
In addition to the report required by section
					 300.1  of this Part, such
					 organization shall submit to the superintendent further reports of any material
					 developments relating to the reported events, and each such report shall
					 contain a statement of the actions taken or proposed to be taken with respect
					 to such developments. Such organization shall also submit to the superintendent
					 a statement of the changes, if any, in its operations which are deemed
					 desirable and feasible by its directors or trustees in order to avoid
					 repetition of similar events.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.4 - Other reports

Current through Register Vol. 46, No. 28, July 10, 2024
Reports shall also be made of any other incident if there
					 are indications that it, or any act therein involved, relates to a plan or
					 scheme and would be of interest to similar organizations located in the same
					 area or throughout the State.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.5 - When reports not required

Current through Register Vol. 46, No. 28, July 10, 2024
(a) If
				  a loss is due to a mysterious disappearance or shortage which does not indicate
				  misconduct--such as clerical or operational error--no report is required.
				  Frequent or numerous "errors" by the same person or persons may, however,
				  indicate misconduct.
(b)
				  Organizations with assets of $1 billion or more are not required to report any
				  incident specified in section
				  300.1(b)-(d) 
				  of this Part if the loss is less than $100,000; and
(c) Organizations with assets over $500
				  million but less than $1 billion are not required to so report if the loss is
				  less than $50,000; and
(d)
				  Organizations with assets over $100 million but less than $500 million are not
				  required to so report if the loss is less than $25,000.
(e) Other organizations are not required to
				  so report if the loss is less than $5,000.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.6 - Records to be maintained

Current through Register Vol. 46, No. 28, July 10, 2024
A record is to be maintained of all incidents described in
					 section
					 300.1  of this Part
					 whether or not they are required to be reported. Such records are to be made
					 available for examination by the superintendent or his
					 representative.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.7 - Reports to law enforcement authorities, etc

Current through Register Vol. 46, No. 28, July 10, 2024
Every organization which discovers or experiences any of
					 the incidents described in section
					 300.1  of this Part is
					 strongly urged to report the details thereof to the appropriate State and local
					 law enforcement authorities, to the local office of the Federal Bureau of
					 Investigation, if appropriate, and to the insurance carrier, even though such
					 incident may not be required to be reported to the Banking Department because
					 of the size of the loss involved.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 300 - Reporting Of Crimes Against Banking Institutions, Mysterious Disappearances And Misconduct › Section 300.8 - Confidentiality

Current through Register Vol. 46, No. 28, July 10, 2024
Reports submitted pursuant to section
					 300.1  of this Part shall
					 be treated as confidential pursuant to Supervisory Procedure
					 G106.6.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 301 - SECURITY AT AUTOMATED TELLER FACILITIES › Section 301.1 - Explanation

Current through Register Vol. 46, No. 28, July 10, 2024
In enacting chapter 9 of the Laws of 1996, which, inter
					 alia, added article II-AA to the Banking Law, the Legislature has found and
					 declared that automated teller machines are greatly utilized by consumers and
					 that the convenience and safety of such consumers must be ensured by
					 establishing security measures for automated teller machine facilities operated
					 by Federal and State chartered banking institutions. Article II-AA sets forth
					 the specific security measures which must be employed at automated teller
					 machines subject to its provisions. The provisions of this Part define and
					 implement the provisions of article II- AA.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 301 - SECURITY AT AUTOMATED TELLER FACILITIES › Section 301.2 - Qualifications of experts

Current through Register Vol. 46, No. 28, July 10, 2024
Any "expert" rendering an opinion pursuant to the
					 provisions of section 75-c (3)(b) or
					 75-m (2)(c)  of the Banking
					 Law shall be licensed as a professional engineer under article 145 of the
					 Education Law or as an architect under article 147 of the Education Law. In the
					 superintendent's sole discretion, an "expert" may be any other person who
					 possesses experience and/or education which the superintendent deems sufficient
					 to give such person the competence to render an opinion under those sections of
					 law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter III - SUPERINTENDENT'S REGULATIONS › Subchapter A - BANKING ORGANIZATIONS › Part 301 - SECURITY AT AUTOMATED TELLER FACILITIES › Section 301.3 - Size of sign

Current through Register Vol. 46, No. 28, July 10, 2024
The sign in the automated teller machine facility which
					 contains the information required by section 75-c (3)(d)  of the Banking
					 Law shall be of such size as to make such information clearly visible from the
					 entryway to the facility.