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New Superintendent’s Regulations - Part 342

August 25, 2011

New Superintendent’s Regulations

Part 342

CALL REPORTS
(Statutory authority: Banking Law §§ 37, 204, 255, 404)

Sec.               
342.1    Call Reports
342.2    Filing: Deemed Filing
342.3    Certification
342.4    Corrected Filings

342.1   Call Reports

  1. Section 204 of the Banking Law requires every foreign banking corporation doing business in this state to make written reports to the Superintendent under oath showing the amount of its assets and liabilities and containing such other matters as the superintendent shall prescribe.
  2. Section 255 of the Banking Law requires savings banks to make a written report to the superintendent annually which shall contain a statement of its condition and shall include such information and be in such form as the superintendent may prescribe.  This section also requires savings banks to make such other special reports as the superintendent shall from time to time require.
  3. Section 404 of the Banking Law requires every savings and loan association to make a written report to the superintendent annually which shall contain a statement of its condition and shall include such information and be in such form as the superintendent may prescribe.  This section also requires savings and loan associations to make such other special reports as the superintendent shall from time to time require.
  4. Such reports shall be in the form and shall include the content required by the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks or the Consolidated Report of Condition and Income promulgated by the Federal Financial Institutions Examination Council (“FFIEC”), whichever is applicable, whether or not such reporting entity is otherwise required to file a report of condition with a federal banking regulator.  Forms and instructions for such reports may be found on the website of the FFIEC (http://www.ffiec.gov/).

342.2   Filing; Deemed Filing

  1. A reporting entity shall render a periodical report of condition, either electronically or in hard copy, to the superintendent..
  2. A periodical report of condition shall be deemed rendered to the superintendent if the superintendent shall have such access as he or she deems appropriate through the facilities of the Federal Deposit Insurance Corporation or the Federal Reserve Board, as the case may be (the “appropriate federal regulatory authority”), to such reports of condition as have been rendered to the appropriate federal regulatory authority, in compliance with the rules and regulations of such appropriate federal regulatory authority.

342.3   Certification

By virtue of filing its periodical report of condition with the appropriate federal regulatory authority, the reporting entity, through its Chief Financial Officer (or equivalent officer), and its attesting senior executive officer, shall be deemed to have made the appropriate certification set forth below:

  1. CFO (or equivalent):

    I attest that this Report of Assets and Liabilities or Report of Condition, whichever is applicable, (including the supporting schedules and supplement) for this report date has been prepared in conformance with the instructions issued by the appropriate federal regulatory authority and is true and correct to the best of my knowledge and belief.

  2. Attesting Senior Executive Officer of foreign bank branch or agency or Each Director or Trustee of Savings Bank or Savings and Loan Association

    I attest to the correctness of this Report of Assets and Liabilities or Report of Condition, whichever is applicable, (including the supporting schedules and supplement) for this report date and declare that it has been examined by me and to the best of my knowledge and belief has been prepared in conformance with the instructions issued by the appropriate federal regulatory authority and is true and correct.

342.3   Corrected Filings

If the reporting entity files a corrected Report of Assets and Liabilities or Report of Condition with the appropriate Federal regulatory authority, it will immediately notify the superintendent in writing of such corrected filing.

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