N.Y. Comp. Codes R. & Regs. Tit. 3 § 52.1 - Maintenance of assets

The amount of eligible assets (as such term is defined in superintendent's regulations section 322.3 ), which is to be held by a foreign banking corporation licensed pursuant to article II of the Banking Law to maintain one or more branches or agencies in this State, is established at zero percentum of its liabilities appearing in the books, accounts and records of its agency, agencies, branch or branches in this State as liabilities of such agency, agencies, branch or branches, provided that the superintendent may impose specific asset maintenance requirements in cases where he deems it necessary for the protection of the public interest and the interest of depositors and creditors, and provided further that the superintendent in specific cases may impose such other requirements as he deems necessary in order to effectuate the purpose of the provisions of Banking Law section 202-b.

Notes

N.Y. Comp. Codes R. & Regs. Tit. 3 § 52.1

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