reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 68 - Investments In Savings And Loan Service Agencies › Section 68.3 - Investments in capital stock of service agency

Current through Register Vol. 46, No. 28, July 10, 2024
No savings and loan association shall invest in the capital
				  stock of a service agency if the aggregate amount of its investment in such
				  stock, including a proposed investment, would exceed the greater of three
				  tenths of one percent of the total assets of such savings and loan association
				  or $3,000 as of the date of such investment.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 68 - Investments In Savings And Loan Service Agencies › Section 68.4 - Investments in the capital notes or debentures of a service agency

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No savings and
				loan association shall invest in the capital notes or debentures of a service
				agency if:
(1) the aggregate amount of its
				investment in such notes and debentures, including the proposed investment,
				would exceed the greater of two percent of the total assets of such savings and
				loan association as of the date of such investment or $10,000; or
(2) the aggregate amount of capital notes and
				debentures of such service agency then issued and outstanding, including the
				notes and debentures proposed to be purchased by such savings and loan
				association would exceed an amount equal to 12 times the issued and outstanding
				stock, surplus and undivided profits of such service agency.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 68 - Investments In Savings And Loan Service Agencies › Section 68.5 - Revocation, rescission or modification

Current through Register Vol. 46, No. 28, July 10, 2024
Any investment made under this Part may be rendered
				  ineligible for investment at any time by further action of the Banking
				  Board.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 69 - Mandatory Transfers To Surplus For Thrift Institutions Pursuant To Banking Law, Sections 244(3) And 387(1) › Section 69.1 - Transfers to surplus funds of savings banks

Current through Register Vol. 46, No. 28, July 10, 2024
If, at the close of any accounting period, the net worth of
				  any savings bank is less than 10 per centum of the amount due to depositors, 10
				  per centum of its net earnings for such period shall be credited to its surplus
				  fund, or so much thereof less than 10 per centum as will make such net worth
				  equal to 10 per centum of the amount due to depositors.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 69 - Mandatory Transfers To Surplus For Thrift Institutions Pursuant To Banking Law, Sections 244(3) And 387(1) › Section 69.2 - Credits to surplus account of savings and loan associations

Current through Register Vol. 46, No. 28, July 10, 2024
When the net profits of any savings and loan association have
				  been determined at the close of an accounting period, if its surplus account
				  does not equal 10 per centum of its capital, five per centum of such net
				  profits shall be credited to its surplus account, or so much thereof less than
				  five per centum as will make such surplus account equal to 10 per centum of its
				  capital.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 70 - Interlocking Directors And Officers Of Banking Organizations And Bank Holding Companies › Section 70.1 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
The term executive officer as defined in this Part means each
				  officer of a bank, trust company, bank holding company, foreign banking
				  corporation, national bank, savings bank, savings and loan association or
				  Federal savings and loan association who participates or has authority to
				  participate in major policymaking functions of the institutions, regardless of
				  whether he has an official title or whether his title contains a designation of
				  assistant, and regardless of whether he is serving without salary or other
				  compensation, provided that the chairman of the board of directors, the
				  president, each vice- president, the cashier, the secretary and the treasurer
				  are presumed to be executive officers, unless, by resolution of the board of
				  directors or board of trustees, or by the bylaws of such institutions, any such
				  officer is excluded from participation in major policymaking functions, and
				  does not actually participate therein.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 70 - Interlocking Directors And Officers Of Banking Organizations And Bank Holding Companies › Section 70.2 - Exceptions

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Board may, by a three-fifths vote, grant
				  permission to one or more executive officers of any institution or institutions
				  of a type named in section
				  70.1  of this Part to
				  be an executive officer, director or trustee, or both an executive officer and
				  a director or trustee, of any other such institution. Such permission may be
				  granted after review by the Banking Board of an application made by such
				  executive officer or officers, or by such an institution which presently has,
				  or is actively considering the election of, one or more such executive officers
				  as an executive officer, director or trustee, or both an executive officer and
				  a director or trustee, of the applying institution.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 71 - Issuance Of Subordinated Securities By Savings Banks And Savings And Loan Associations › Section 71.1 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
As defined in this Part, the term savings institution means a
				  savings bank or savings and loan association; and the term subordinated debt
				  security means any unsecured note, bond, debenture, or other obligation or
				  security issued pursuant to section 234 (5-b) or
				  382-b (2)  of the Banking
				  Law, but shall not mean any note, bond, debenture, or other obligation or
				  security subordinated to the claims of depositors issued to the Federal Deposit
				  Insurance Corporation of the Federal Savings and Loan Insurance
				  Corporation.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 71 - Issuance Of Subordinated Securities By Savings Banks And Savings And Loan Associations › Section 71.2 - Approval of superintendent of banks

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No savings institution shall issue
				subordinated debt securities unless it shall have obtained the prior written
				approval of the Superintendent of Banks. The Superintendent of Banks may grant
				approval in principle of the issuance of the subordinated debt securities,
				based on preliminary drafts of documents submitted with the application
				pursuant to section
				71.4  of this Part.
				Final written approval, however, will not be given until final copies of the
				documents have been submitted to the Banking Department and reviewed.
(b) In granting approval, the Superintendent
				of Banks may impose such restrictions and limitation on a particular issue as
				he shall deem necessary. Upon receipt of the Superintendent of Banks' final
				written approval, the applicant may proceed to issue the securities described
				in the application and in the manner described therein.
(c) Written approval of the Superintendent of
				Banks shall also be required for any subsequent amendment to the terms or
				conditions governing the original issue.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 71 - Issuance Of Subordinated Securities By Savings Banks And Savings And Loan Associations › Section 71.3 - Restrictions and requirements as to securities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No subordinated debt securities may be
				issued by a savings institution in denominations of less than $50,000, or with
				an original maturity of less than seven years.
(b) Each certificate, note or other evidence
				of subordinated debt issued pursuant to this Part shall:
(1) indicate clearly on its face, in boldface
				type, that the security does not represent a savings account or other deposit
				and is not insured by any government agency;
(2) clearly state that the security is
				subordinated, as to principal and interest, to all deposits of the issuing
				savings institution, and is unsecured; and
(3) state the terms, if any, under which the
				issuing savings institution may prepay or call the obligation.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 71 - Issuance Of Subordinated Securities By Savings Banks And Savings And Loan Associations › Section 71.4 - Applications

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each
				application by a savings institution to issue subordinated debt securities
				pursuant to this Part shall be in letter form and be accompanied by:
(1) a specimen of the certificates, notes or
				debentures to be issued, a copy of the proposed agreement or indenture pursuant
				to which the securities are to be issued, and a copy of any other agreement
				relating to the sale or distribution of the issue. Such documents may be in
				preliminary draft form but shall contain the basic provisions, terms,
				restrictions, and covenants relating to the issue. Definitive copies of
				documents shall be filed with the Banking Department as soon as available, and
				should be marked to indicate changes from prior drafts submitted;
(2) a certified copy of a resolution of the
				board of trustees or directors of the issuing institution:
(i) approving the issuance of subordinated
				debt securities in a specified maximum amount, the maximum interest rate at
				which the securities may be issued, the form and content of the note or
				certificate to be issued, the agreement of indenture and any collateral
				agreements; and
(ii) designating an
				officer or officers to submit application for approval to the appropriate
				supervisory authorities and to take other necessary action in connection
				therewith.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 71 - Issuance Of Subordinated Securities By Savings Banks And Savings And Loan Associations › Section 71.5 - Reports

Current through Register Vol. 46, No. 28, July 10, 2024
Within 30 days after the completion of the sale of
				  subordinated debt securities, the savings institution shall file a report of
				  the transaction with the Superintendent of Banks stating the total face value
				  of the securities sold, the rate of interest agreed upon and the net proceeds
				  to the issuing institution. In addition, the issuing savings institution shall
				  submit two condensed statements of condition acknowledged by its chief
				  executive or financial officer: one as of the close of business on the day
				  immediately preceding the sale and the other as of the close of business on the
				  day on which the sale was consummated.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 72 - Investments In Certificates Of Deposit Of Banking Corporations › Section 72.1 - Permissible investments

Current through Register Vol. 46, No. 28, July 10, 2024
Savings banks and savings and loan associations may invest in
				  certificates of deposit of a banking institution described in section 235 (12-a)(b)  of the Banking
				  Law which has total assets of less than $1 billion only if such certificates
				  are issued by and payable in United States dollars at an office of such banking
				  institution located within one of the states of the United States of America,
				  and in certificates of deposit of a banking institution described in section 235 (12-a)(b)  of the Banking
				  Law which has total assets of $1 billion or more only if such certificates are
				  payable in United States dollars.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 72 - Investments In Certificates Of Deposit Of Banking Corporations › Section 72.2 - Applicability

Current through Register Vol. 46, No. 28, July 10, 2024
This Part shall apply to investments made by savings banks
				  and savings and loan associations on and after June 19, 1974, but shall not
				  require the disposition of any investment theretofore made, not in conformity
				  with this Part, prior to normal or earliest optional maturity date of such
				  investment.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.1 - General statement

Current through Register Vol. 46, No. 28, July 10, 2024
A banking organization may conduct a banking business at
				  electronic facilities that are either established (i.e., owned or rented by a
				  single organization) or shared, on a transaction fee or similar basis, by such
				  banking organization, subject to the provisions of this Part. Such facilities
				  are not branches but are subject to the limitations contained in sections 28-b and
				  105 (1)(ii), 240 (2)(b) or
				  396 (2)(b)  of the Banking
				  Law, as the case may be, as if they were branches. In addition to the
				  requirements of this Part, automated teller machines must comply with the
				  security measures and reporting requirements set forth in article II-AA of the
				  New York Banking Law and Part 301 of the Superintendent's
				  regulations.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For the purposes of this Part:
(a) Electronic facilities shall mean
				automated teller machines, point-of-sale terminals, and similar facilities at
				which the banking business may be conducted. Such term shall not include home
				banking terminals, telexes and similar equipment.
(b) Automated teller machines shall mean
				electronic devices, either on-line or off-line, which permit deposits,
				withdrawals, transfers of funds from one account to another, loan repayments or
				disbursements of funds pursuant to prearranged lines of credit. Except for
				facilities staffed for the purposes cited in section
				73.7 
				of this Part, they shall not include staffed facilities.
(c) Point-of-sale terminals shall mean
				electronic devices, either on-line or off-line, whose function is to transfer
				funds or record transfers of funds in connection with the sale of goods or
				services but which may also be used to accept deposits and loan repayments,
				make cash withdrawals, and obtain funds pursuant to prearranged lines of
				credit. These terminals may be located only at bona fide checkout counters,
				cashier stations, customer convenience counters or other counters at which
				store functions are performed, or sales desks of other establishments, and may
				not be staffed by bank employees, with the exceptions noted in section
				73.7 
				of this Part.
(d) Similar
				facilities shall mean electronic devices, either on-line or off-line, which may
				be used for making deposits, withdrawals, transfers of funds, loan repayments
				or disbursements of funds pursuant to prearranged lines of credit. Except as
				otherwise provided in section
				73.7 
				of this Part, such facilities, if part of a store's bona fide customer
				convenience counter or other counter at which store functions are performed, or
				sales desks of other establishments, may be staffed but only by nonbank
				employees; if located anywhere else, they may not be staffed.
(e) Banking organizations shall mean banks,
				trust companies, savings banks, savings and loan associations, and out-of-state
				state bank with one or more branches in New York.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.3 - Establishment or sharing of electronic facilities

Current through Register Vol. 46, No. 28, July 10, 2024
Any banking organization that has given the Superintendent
				  the notice described in section
				  73.6  of this
				  Part may establish or share an electronic facility upon receipt of written
				  notification from the Superintendent that he or she does not object to the
				  establishment or sharing of such facility. The Superintendent shall not object
				  to the establishment or sharing of an electronic facility unless the banking
				  organization submitting the notice fails to meet the requirements of Banking
				  Law, section
				  28-b and Part 76 of this Title or the
				  establishment or sharing of such facility is prohibited by the home office
				  protection provisions of Banking Law, section
				  105(1)(ii),
				  240(2)(b) or
				  396(2)(b).
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.4 - Sharing facilities

Current through Register Vol. 46, No. 28, July 10, 2024
To the extent consistent with law, banking organizations may
				  share electronic facilities they have established with other banking
				  organizations, banking institutions not subject to the provisions of this Part,
				  and nonbanking entities, and may share electronic facilities established by
				  other banking organizations, banking institutions not subject to this Part or
				  nonbanking entities.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.5 - Facilities not requiring notification

Current through Register Vol. 46, No. 28, July 10, 2024
The following activities do not require notification to the
				  Superintendent under this Part:
(a)
				the establishment by a banking organization of an electronic facility on the
				premises of one of its authorized, staffed banking offices or attached to the
				outer wall of such an office;
(b)
				the establishment or sharing of an electronic facility to the extent it is used
				solely to effect transactions among banking institutions, clearinghouses,
				clearing corporations, governmental institutions or governmental agencies,
				business firms or similar organizations, or between two or more of these types
				of organizations; and
(c) the
				sharing of an electronic facility when the customers of the sharing institution
				may use the facility solely to obtain information about account balances, make
				cash withdrawals (including those that require transfers of funds among a
				customer's accounts), and obtain cash advances against credit lines.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.6 - Contents of notice

Current through Register Vol. 46, No. 28, July 10, 2024
The notice to the Superintendent for the establishment or
				  sharing of an electronic facility shall include the following:
(a) the complete address of the proposed
				facility, including the name of the city, village, hamlet, or town in which the
				site is physically located (rather than that which is used in the mailing
				address, if different);
(b)
				identification of the type of facility and a statement as to whether the
				facility will have deposit-taking capability;
(c) a statement as to whether the facility
				will be shared initially;
(d)
				details of any transaction involving the establishment or initial sharing of
				the facility with an insider as defined in Part 11 of this Title or with any
				related interest of such a person; and
(e) any additional information which the
				department may require on a case-by-case basis.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 73 - Electronic Facilities › Section 73.7 - Restrictions on electronic facilities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No electronic facility may be staffed by
				employees of a banking organization. However, employees of a banking
				organization may be used to demonstrate the equipment, to train nonbank
				employees for a reasonable period of time, to provide information, to repair
				and service the electronic equipment, or as security guards.
(b) All banking organizations shall take the
				necessary steps to protect their interests in the activities of their
				electronic facilities, including the acquisition of appropriate fidelity and
				other insurance coverage, and to safeguard the identity of bank customers in
				the use of such facilities.
(c) No
				new accounts may be opened at electronic facilities, and no cash, check, money
				order or draft of any kind may be taken with application forms if such forms
				are filled out and left at the electronic facility.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 75 - Credit Card Issuance By Credit Unions › Section 75.1 - Issuance of credit cards

Current through Register Vol. 46, No. 28, July 10, 2024
State-chartered credit unions are authorized to issue credit
				  cards to their members, for purposes of providing such members with access both
				  to overdraft loans and/or cash advances and to purchases of goods or services,
				  to the extent not inconsistent with the provisions of article XI of the Banking
				  Law, provided that overdraft loans and/or cash advances shall be made on the
				  terms and conditions contained in subdivision 5 of section 108  of the Banking Law, and that credit
				  extensions shall be made pursuant to the provisions of section 413  of the Personal Property
				  Law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.1 - Statement of policy; explanation

Current through Register Vol. 46, No. 28, July 10, 2024
In enacting the CRA, the New York State Legislature required
				  the Superintendent to assess a banking institution's record of helping to meet
				  the credit needs of the local communities in which the banking institution is
				  chartered, consistent with the safe and sound operation of the banking
				  institution, and to take this record into account in the Department's
				  evaluation of those applications by banking institutions which are enumerated
				  in sections 28-b, 225 and 413 of the New York State Banking Law. This Part is
				  intended to carry out the purposes of the CRA. This Part establishes the
				  framework and criteria by which the Department assesses a banking institution's
				  record of helping to meet the credit needs of its entire community, including
				  low- and moderate income neighborhoods and minority- and women-owned businesses, consistent with the safe and sound operation of the banking institution. In
				  conducting such an assessment, the Department may evaluate the banking
				  institution by performing its CRA examination on-site at the institution or,
				  alternatively, at the Department; may require the submission of written
				  responses to Department requests for documentation and other information,
				  including responses to the so-called "First Day Letter" or similar requests;
				  may interview banking institution personnel; may conduct branch visits; and may
				  require any other information or documentation, or utilize any other procedure
				  that the Superintendent deems necessary. With respect to New York
				  State-chartered multi-state banking institutions, the Department will rely, in
				  part, on the CRA evaluation by the host state, commonwealth or territory with
				  regard to the branches located in the host state, commonwealth or territory or,
				  in those instances in which there is no host state, commonwealth or territory
				  CRA evaluation, upon the CRA evaluation of the appropriate Federal regulatory
				  authorities; however, the Department will independently review the factors set
				  forth in section 28-b.3(a)(1), (2) and (3) of the Banking
				  Law.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
For purposes of this Part, the following definitions
				  apply:
(a)
Affiliate
means any company, including a subsidiary, that controls, is controlled by, or
				is under common control with another company.
(b)
Area median income
means:
(1) the median family income for the
				MSA, if a person or geography is located in an MSA, or for the metropolitan
				division, if a person or geography is located in an MSA that has been
				subdivided into metropolitan divisions; or
(2) the statewide nonmetropolitan median
				family income, if a person or geography is located outside an MSA.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.3 - Filing requirements

Current through Register Vol. 46, No. 28, July 10, 2024
Each banking institution, as that term is defined in section
				  76.2  of this Part, to
				  which the act of Congress entitled the Community Reinvestment Act of 1977 (
				  P.L. 95-221) applies shall file with the Superintendent of Banks a copy of
				  each report and document which it is required to prepare and/or file with one
				  or more Federal agencies by the Community Reinvestment Act of 1977 and the
				  rules and regulations promulgated pursuant thereto, at the same time as it
				  shall file such reports and documents with such agencies. Such documents shall
				  include, but not be limited to, annual Home Mortgage Disclosure Act ("HMDA")
				  data, annual small business and farm loan data, a copy of its designation as a
				  wholesale or a limited purpose banking institution, if any, community
				  development loan data, if any, and assessment area data, if any. Community
				  development loan data should include the aggregate number and aggregate amount
				  of community development loans originated or purchased. With regard to
				  assessment area data, a banking institution, except a small banking institution
				  or a banking institution that was a small banking institution during the prior
				  calendar year, shall submit a copy of the most recent list for each assessment
				  area showing the geographies within the area which was submitted to the
				  appropriate Federal regulatory authority. In addition, nothing shall preclude
				  the superintendent from requiring the submission of additional information
				  which he or she deems necessary, in order to appropriately evaluate an
				  institution.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.4 - Review of applications

Current through Register Vol. 46, No. 28, July 10, 2024
The superintendent and the Banking Board will consider the
				  factors set forth in section 28-b  of the Banking Law and the performance
				  tests and standards set forth in section
				  76.7 
				  of this Part in assessing a banking institution's record of performance. Such
				  assessment of a banking institution's record of performance, as set forth in
				  this Part, may be the basis for denying an application by the superintendent or
				  the Banking Board, as applicable. Furthermore, the superintendent or the
				  Banking Board may condition the approval of any application as the facts and
				  circumstances warrant.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.6 - Assessment area delineation

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In
				general. A banking institution shall delineate one or more assessment areas
				within which the Banking Department evaluates the banking institution's record
				of helping to meet the credit needs of its community. The Banking Department
				does not evaluate the banking institution's delineation of its assessment
				area(s) as a separate performance criterion, but the Banking Department reviews
				the delineation for compliance with the requirements of this section.
(b) Geographic area(s) for wholesale or
				limited purpose banking institutions. The assessment area(s) for wholesale or
				limited purpose banking institutions must consist generally of one or more MSAs
				or metropolitan divisions (using the MSA or metropolitan division boundaries
				that were in effect as of January 1st of the calendar year in which the
				delineation is made) or one or more contiguous political subdivisions, such as
				counties, cities, or towns, in which the bank has its main office, branches,
				and deposit-taking ATMs.
(c)
				Geographic area(s) for other banking institutions. The assessment area(s) for a
				banking institution other than a wholesale or limited purpose banking
				institution must:
(1) consist generally of
				one or more MSAs or metropolitan divisions (using the MSA or metropolitan
				division boundaries that were in effect as of January 1st of the calendar year
				in which the delineation is made) or one or more contiguous political
				subdivisions, such as counties, cities, or towns; and
(2) include the geographies in which the
				banking institution has its main office, its branches, and its deposit-taking
				ATMs, as well as the surrounding geographies in which the banking institution
				has originated or purchased a substantial portion of its loans (including home
				mortgage loans, small business and small farm loans, and any other loans the
				banking institution chooses, such as those consumer loans on which the banking
				institution elects to have its performance assessed).
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.7 - Performance tests and standards

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Performance tests and standards. The Banking Department shall assess the CRA
				performance of banking institutions in an evaluation as set forth below:
(1) Lending, investment and service tests.
				The Banking Department applies the lending, investment and service tests, as
				provided in sections
				76.8,
				76.9 and
				76.10  of this Part,
				in evaluating the performance of a banking institution, except as provided in
				paragraphs (2), (3) and (4) of this subdivision.
(2) Community development test for wholesale
				or limited purpose banking institutions. The Banking Department applies the
				community development test for a wholesale or limited purpose banking
				institution, as provided in section
				76.11 
				of this Part, except as provided in paragraph (4) of this
				subdivision.
(3) Small banking
				institution performance standards. The Banking Department applies the small
				banking institution performance standards, as provided in section
				76.12 
				of this Part, in evaluating the performance of a small banking institution or a
				banking institution that was a small banking institution during the prior
				calendar year, unless the banking institution elects to be assessed as provided
				in paragraph (1), (2) or (4) of this subdivision. The banking institution may
				elect to be assessed as provided in paragraph (1) of this subdivision only if
				it collects and reports the Federal CRA data required for other banking
				institutions which are assessed pursuant to paragraph (1) of this
				subdivision.
(4) Strategic plan.
				The Banking Department evaluates the performance of a banking institution under
				a strategic plan if the banking institution submits, and the Banking Department
				approves, a strategic plan as provided in section
				76.13  of this
				Part.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.8 - Lending test

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Scope of
				test. The scope of the lending test is as follows:
(1) The lending test evaluates a banking
				institution's record of helping to meet the credit needs of its assessment
				area(s) through its lending activities by considering a banking institution's
				home mortgage, small business, minority- and women-owned business, small farm,
				and community development lending. If consumer lending constitutes a
				substantial majority of a banking institution's business, the Department will
				evaluate the banking institution's consumer lending in one or more of the
				following categories: motor vehicle, credit card, home equity, other secured,
				and other unsecured loans. In addition, at a banking institution's option, the
				Department will evaluate one or more categories of consumer lending, if the
				banking institution has collected and maintained the data required by
				Regulation BB of the Board of Governors of the Federal Reserve System (  12 CFR
				Part 228) for each category that the banking institution elects to have the
				Department evaluate.
(2) The
				Department considers originations and purchases of loans. The Department may
				also consider any other loan data the banking institution may choose to
				provide, including data on loans outstanding, commitments and letters of
				credit.
(3) The Department may
				consider loans originated or purchased by consortia in which the banking
				institution participates or by third parties in which the banking institution
				has invested.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.9 - Investment test

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Scope of
				test. The investment test evaluates a banking institution's record of helping
				to meet the credit needs of its assessment area(s) through qualified
				investments that benefit its assessment area(s) or a broader statewide or
				regional area that includes the banking institution's assessment
				area(s).
(b) Exclusion. Activities
				considered under the lending or service tests may not be considered under the
				investment test.
(c) Affiliate
				investment. At a banking institution's option, the Banking Department will
				consider, in its assessment of a banking institution's investment performance,
				a qualified investment made by an affiliate of the banking institution, if the
				qualified investment is not claimed by any other institution.
(d) Performance criteria. The Banking
				Department evaluates the investment performance of a banking institution
				pursuant to criteria which may include the following:
(1) the dollar amount of qualified
				investments;
(2) the innovativeness
				or complexity of qualified investments;
(3) the responsiveness of qualified
				investments to credit and community development needs; and
(4) the degree to which the qualified
				investments are not routinely provided by private investors.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.10 - Service test

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Scope of
				test. The service test evaluates a banking institution's record of helping to
				meet the credit needs of its assessment area(s) by analyzing both the
				availability and effectiveness of a banking institution's systems for
				delivering retail banking services and the extent and innovativeness of its
				community development services.
(b)
				Area(s) benefited. Community development services must benefit a banking
				institution's assessment area(s) or a broader statewide or regional area that
				includes the banking institution's assessment area(s).
(c) Affiliate service. At a banking
				institution's option, the Banking Department will consider, in its assessment
				of a banking institution's service performance, a community development service
				provided by an affiliate of the banking institution, if the community
				development service is not claimed by any other institution.
(d) Performance criteria. The Banking
				Department evaluates the availability and effectiveness of a banking
				institution's systems for delivering retail banking services, pursuant to
				criteria which may include the following:
(1)
				the current distribution of the banking institution's branches among low-,
				moderate-, middle-, and upper-income geographies, giving additional
				consideration to branches located adjacent to low- or moderate-income
				geographies when such branches can be shown to serve the needs of low- or
				moderate-income individuals;
(2) in
				the context of the current distribution of its branches, the banking
				institution's record of opening and closing branches, particularly branches
				located in low- or moderate-income geographies or branches in adjacent
				geographies when such branches can be shown to serve the needs of low- or
				moderate-income individuals;
(3)
				the availability and effectiveness of alternative systems for delivering retail
				banking services (e.g., ATMs, ATMs not owned or operated by or exclusively for
				the banking institution, banking by telephone or computer, loan production
				offices, and bank-at-work or bank-by-mail programs) in low-and moderate-income
				geographies or primarily serving low- or moderate-income individuals;
				and
(4) the range of services
				provided in low-, moderate-, middle- and upper-income geographies and to low-,
				moderate-, middle- and upper-income individuals and the degree to which the
				services are tailored to meet the needs of those geographies and
				individuals.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.11 - Community development test for wholesale or limited purpose banking institutions

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				Scope of test. The Banking Department assesses a wholesale or limited purpose
				banking institution's record of helping to meet the credit needs of its
				assessment area(s) under the community development test through its community
				development lending, qualified investments, or community development
				services.
(b) Designation as a
				wholesale or limited purpose banking institution. In order to receive a
				designation as a wholesale or limited purpose banking institution, a banking
				institution shall file a request, in writing, with the appropriate Federal
				regulatory authority in compliance with its rules and regulations regarding
				such designations. If the appropriate Federal regulatory authority approves the
				designation, it remains in effect until the banking institution requests
				revocation of the designation or until one year after the appropriate Federal
				regulatory authority notifies the banking institution that the designation has
				been revoked on its own initiative.
(c) Performance criteria. The Banking
				Department evaluates the community development performance of a wholesale or
				limited purpose banking institution pursuant to criteria which may include the
				following:
(1) the number and amount of
				community development loans (including originations and purchases of loans and
				other community development loan data provided by the banking institution, such
				as data on loans outstanding, commitments, and letters of credit), qualified
				investments, or community development services;
(2) the use of innovative or complex
				qualified investments, community development loans, or community development
				services and the extent to which the investments are not routinely provided by
				private investors; and
(3) the
				banking institution's responsiveness to credit and community development
				needs.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.12 - Small banking institution performance standards

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Performance criteria.
(1) Small banking institutions with assets of
				less than $250 million. The Banking Department evaluates the record of a small
				banking institution that is not, or that was not during the prior calendar
				year, an intermediate small bank, of helping to meet the credit needs of its
				assessment area(s) pursuant to the criteria set forth in subdivision (b) of
				this section.
(2) Intermediate
				small banking institutions. The Banking Department evaluates the record of a
				small banking institution that is, or that was during the prior calendar year,
				an intermediate small banking institution, of helping to meet the credit needs
				of its assessment area(s) pursuant to the criteria set forth in subdivisions
				(b) and (c) of this section.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.13 - Strategic plan

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Alternative
				election. The Department will assess a banking institution's record of helping
				to meet the credit needs of its assessment area(s) under a strategic plan if:
(1) the banking institution has submitted the
				plan to the Department as provided for in this section;
(2) the Department has approved the
				plan;
(3) the plan is in effect;
				and
(4) the banking institution has
				been operating under an approved plan for at least one year.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.14 - High cost areas

Current through Register Vol. 46, No. 28, July 10, 2024
The Banking Department recognizes that the demographics and
				  housing characteristics of an area may be such that the gap between housing
				  costs and area median income greatly restricts the affordability of
				  owner-occupied housing for low-and moderate-income persons residing in such an
				  area. At the same time, there may exist a shortage of credit which endangers
				  the preservation, stabilization or improvement of middle-income geographies or
				  limits access to credit for middle- income persons residing in such an area.
				  Where, based on relevant, current and verifiable data (including but not
				  limited to the most recent census data pertaining to such area) these
				  conditions are found to exist, the department may, in its assessment of the
				  institution's performance, be flexible in its consideration of a banking
				  institution's activities pertaining to owner-occupied housing in middle-income
				  geographies or for middle-income individuals residing in such an area.
				  Consideration of such activities shall be in addition to, and not in lieu of,
				  consideration of activities in low-or moderate-income geographies and
				  activities which serve low- or moderate- income individuals.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.15 - Other documents

Current through Register Vol. 46, No. 28, July 10, 2024
When taking any action under section 29  of the Banking Law relating to the opening
				  of a branch or public accommodation office or under section 601-b  of the Banking Law relating to the
				  approval or disapproval of a merger or purchase of assets, the superintendent
				  shall request from the applicant banking institution and from the appropriate
				  Federal bank regulatory authorities any documents, other than those required to
				  be filed with the superintendent by this Part or by other applicable statutes
				  or regulations:
(a) filed with the
				Federal bank regulatory authorities in connection with the application:
				or
(b) produced by the applicant
				banking institution or others in connection with the application.
New York Codes, Rules and Regulations › Title 3 - BANKING › Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT › Part 76 - Compliance With Community Reinvestment Act Requirements › Section 76.16 - Minority and women owned business loan data collection

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Purpose. The purpose of this section is
				to facilitate the Department's evaluations of banking institutions' records of
				meeting the credit needs of their local communities, in compliance with to
				Section 28-b of the New York Banking Law, including the assessment factors
				delineated in Section 28-b(3)(a).
(b) Information gathering. Subject to the
				requirements of this section, in the case of any application for credit by a
				business to a banking institution which has originated at least 25 credit
				transactions for businesses in each of the two preceding calendar years, the
				banking institution shall:
(1) inquire
				whether the business is a minority- or women-owned business, without regard to
				whether such application is received in person, by mail, by telephone, by
				electronic mail or other form of electronic transmission, or by any other
				means, and whether or not such application is in response to a solicitation by
				the banking institution;
(2) at the
				time of application, notify such applicants in writing, or orally for
				applications made by telephone or another medium that does not involve
				providing any paper or electronic documents, that:
(i) any applicant for credit may refuse to
				provide any information requested pursuant to this subdivision (b) in
				connection with any application for credit; and
(ii) that the banking institution is
				prohibited from discriminating on the basis of any information provided in
				response to an inquiry made pursuant to this subdivision or on whether the
				applicant provides this information; and
(3) maintain a record of the responses to
				such inquiry, separate from the application and accompanying
				information.