New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter A - BANKING ORGANIZATIONS
Part 321 - Loans To Executive Officers And Directors Of Banks And Bank Holding Companies
Section 321.5 - Reports of executive officers' indebtedness to other banks

Universal Citation: 3 NY Comp Codes Rules and Regs ยง 321.5
Current through Register Vol. 46, No. 12, March 20, 2024

Every executive officer of a bank who becomes indebted to any domestic or foreign banking corporation other than the bank of which he or she is an executive officer or becomes indebted to any banking institution organized under the laws of the United States, in an aggregate amount greater than the amount specified for a category of credit in section 321.4 of this Part shall, within 10 calendar days of the date the indebtedness reaches such a level, make a written report to the board of directors of the bank of which he or she is an executive officer, stating the date and the amount of such loan or indebtedness and the security therefor. The reporting requirement may be satisfied by making the report to the secretary of the board within the allotted time and the subsequent presentation of the report to the board at its next scheduled meeting.

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