N.Y. Banking Law Section 202-F
Restrictions on loans, purchases of securities and total liabilities of any one person to New York branch or agency of foreign bank

Before opening a branch or agency in this state, and annually thereafter so long as a branch or agency is maintained in this state, a foreign banking corporation, licensed pursuant to article 2 (Department of Financial Services)article two of this chapter, shall certify to the superintendent the amount of its paid-in capital stock, its surplus fund and its undivided profits, each expressed in the currency of the country of its incorporation, the dollar equivalent of which amount, as determined by the superintendent, shall be deemed to be the amount of its capital stock, surplus fund and undivided profits. Loans, purchases and discounts of notes, bills of exchange, bonds, debentures and other obligations, and extensions of credit and acceptances by a branch or agency of a foreign banking corporation within this state shall be subject to the same limitations as to amount in relation to capital stock, surplus fund, and undivided profits as are applicable to banks and trust companies pursuant to article 3 (Banks and Trust Companies)article three of this chapter, provided, however, that with the prior approval of the superintendent of financial services, the capital notes and capital debentures of such foreign banking corporation may be treated as capital stock in computing such limitations.

Source: Section 202-F — Restrictions on loans, purchases of securities and total liabilities of any one person to New York branch or agency of foreign bank, https://www.­nysenate.­gov/legislation/laws/BNK/202-F (updated Sep. 22, 2014; accessed Apr. 13, 2024).

200
When foreign banking corporation may transact business in this state 200–A
Actions maintained by a foreign banking corporation 200–B
Actions maintained against foreign banking corporation 200–C
Maintenance of books, accounts and records 201
Conditions to be complied with by foreign banking corporations applying for initial license 201–A
Rights and privileges of foreign banking corporation under license 201–B
Fiduciary powers of foreign banking corporations 201–C
Notice of acquisition of control or merger 202
Rates of interest 202–A
Restrictions on receiving deposits 202–B
Maintenance of assets in this state 202–C
Reserves against deposits 202–D
Foreign banking corporation may not maintain both agencies and branches in this state 202–F
Restrictions on loans, purchases of securities and total liabilities of any one person to New York branch or agency of foreign bank 202–G
Succession to agency by branch and to branch by agency 202–H
Repayment of deposits standing in the names of minors, trustees, joint depositors or custodians 202–I
Safe deposit business of branches 202–J
Power to act as trustee under self-employed retirement trust or individual retirement trust 203
Change of location, name or business 204
Reports of foreign banking corporations 204–A
Payment of claims by foreign banking corporations where adverse claim is asserted 206
Termination of existence 207
Service of process on unlicensed corporation formed under laws other than the statutes of this state 208
Nondiscriminatory treatment of insured state banks and national banks 209
Restrictions on executive officers of foreign banking corporations and national banks
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Accessed:
Apr. 13, 2024

Last modified:
Sep. 22, 2014

§ 202-F’s source at nysenate​.gov

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