N.Y. Comp. Codes R. & Regs. tit. 3 § 103.1

Current through Register Vol. 46, No. 43, October 23, 2024

Section 103.1 - General information

(a) A bank, trust company, or safe deposit company that seeks permission to open a branch office should file an application therefor with the superintendent, at the address set forth in section 1.1 of Supervisory Policy G 1 of this Title, which meets the requirements of this supervisory procedure, accompanied by payment of the fee specified in section 1.2 of Supervisory Policy G 1 of this Title. The words "branch," "office," and "offices" as used in this supervisory procedure shall include limited purpose branches, but shall not include automated teller machines, point-of-sale terminals or similar facilities.

(b) In accordance with Supervisory Procedure G 106 (Public Access to Banking Department Records) of this Title, the entire application and all supporting material are available for public inspection except for confidential material. If the applicant believes that the public availability or disclosure of certain of the information provided would be clearly harmful, such information should be segregated from the public portion and labeled "confidential." The applicant must also state the reasons under section 87(2) of the Freedom of Information Law for any request for confidentiality.

(c) The Banking Department processes branch applications using either an expedited application process or a standard application process. An institution is eligible for the expedited process if it satisfies all of the following criteria:

(1) has a composite CAMELS rating of "1" or "2";

(2) has at least a satisfactory ("2") rating for management;

(3) is well capitalize in accordance with applicable Federal standards;

(4) has a CRA rating of "satisfactory" or better; and

(5) has no major unresolved supervisory issues outstanding (as determined by the Banking Department in its discretion).

Application requirements are set forth by the Superintendent of Banks. Forms and instructions may be obtained directly from the department, and are available on the department's website (www.banking.state.ny.us).

(d) An application should be filed concurrently with the appropriate Federal supervisory authority if Federal approval is also required. An applicant may submit information to the Banking Department by submitting a copy of the appropriate Federal or uniform State application and providing cross-references to the information contained therein. Such Federal or uniform State applications shall be supplemented where necessary to comply with the Banking Department's specific application requirements.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 103.1