Banking Interpretations

NYSBL Section 221-e

March 2, 2006

[ ]

Dear [ ]l:

Reference is made to your letter dated January 9, 2006 regarding the recent approval
by the New York State Banking Department (the "Department") of the application by
[ ] (the "Bank") to establish and
maintain a licensed representative office in New York City. Your letter notes the Bank's
desire to conduct its activities in New York under a name other than its legal name. In
conversations wit [ ] of your office, we understand that the Bank seeks
to use a shortened version of its corporate name [ ] as a marketing tool. We
also understand that, when used, the [ ] name will be accompanied by the
Bank's full name, and all agreements and contracts entered into in New York will use
the Bank's full corporate name. You seek approval on behalf of your client of the
limited use of this marketing name.

We have reviewed the Banking Law and find no provision of Article V-B that addresses
your request. In particular, we note that Article V-B of the Banking Law does not
provide the Department with authority to vary the corporate name of the licensed entity.
Indeed, Section 221-e provides that "(e)ach license issued under this article shall ...
state fully the name of the licensee." No provision is provided for an assumed name in
the Banking Law.

As a matter of policy, the Department will not object to the use of a marketing name
such as [ ], the Bank in the manner described to us as long as this use is not
misleading to the public. Of course, your client should advise the Foreign and
Wholesale Banks Division of any marketing names it eventually uses.

You letter also asks what filings if an with the New York Secretary of State might be
required to effect the use of [ ]. Please be advised that we have no authority to
interpret the law applicable to the filing requirements of that agency. Hence, while it is
unclear to us whether any filings with the Secretary of State are actually required to be
made, given the limited use of the [ ] name described above and the limited
activities of a representative office in general, we express no opinion on this question
We recommend that you contact the Secretary of State to resolve this issue. You may
wish to contact Gary Treachill at ((518) 473-2278) regarding the use of an assumed
name in New York State by a foreign corporation.

Should you have any questions with respect to this letter, please do not hesitate to
contact the undersigned.

Very truly yours,

Gene C. Brooks
Assistant Counsel

cc: Deputy Fredsall
Deputy Lesser
Deputy Kursky