New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter A - BANKING ORGANIZATIONS
Part 323 - Acceptance Of Deposits From Noncitizens And Non-u.s. Residents By Licensed Agencies Of Foreign Banking Corporations
Section 323.3 - Notification that deposits are uninsured

Current through Register Vol. 46, No. 12, March 20, 2024

At or prior to the time a licensed agency of a foreign bank shall open any deposit account under $100,000 for a depositor not a citizen or resident of the United States, pursuant to section 202-a(1)(c) of the Banking Law, and this Part, it shall notify the depositor that the agency's deposits are not insured by the FDIC. Such notification shall be in writing and shall appear in a conspicuous place on the signature card or other related documentation pertaining to the opening of the account.

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