Current through Register Vol. 46, No. 12, March 20, 2024
The monthly report to the board of directors shall contain
a written report of the following transactions which have taken place since the
date of the last preceding similar report:
(a)
(1) Any
purchase of the securities of any one issuer (except those which are
obligations of the U.S. Government) if it, by itself or together with any
previously unreported purchases, brings the total holdings of securities of
that issuer to an amount equal to, or in excess of, 21/2 percent of capital
funds.
(2) Any increase to a
securities holding previously reported (except those which are obligations of
the U.S. Government) if it, together with any other increases since the item
was last reported, is in an amount equal to, or in excess of, one percent of
capital funds. However, increases need not be reported if the total holdings of
securities of that issuer during the period since the last similar report was
prepared did not equal or exceed 21/2 percent of capital funds.
(b) The maximum overnight advance
of Federal funds to any single obligor if this amount equals or exceeds five
percent of capital funds.
(c) Any
renewal, increase, or new loan, including the maximum overdraft, made to an
entity with a classified loan if it, together with any other renewals,
increases, or new loans since the item was last reported, is equal to, or in
excess of, 1/10 of 1 percent of capital funds. However, these items need not be
reported if the total loan to that entity is not equal to, or in excess of, 1/2
of 1 percent of capital funds.
(d)
(1) Every other loan made or renewed,
together with the maximum overdraft, if it, by itself or together with any
other previously unreported loans; brings the aggregate loan to any one entity
to an amount equal to, or in excess of, 21/2 percent of capital funds. In the
case of loans to broker/dealers which are fully secured by readily marketable
securities only the maximum amount outstanding during the period need be
reported.
(2) Any increase to a
loan previously reported if it, together with any other increases since the
item was last reported, is in an amount equal to, or in excess of, one percent
of capital funds. However, increases need not be reported if the total amount
outstanding during the period since the last similar report was prepared did
not exceed 21/2 percent of capital funds. The aggregate loan to any one entity
shall be computed as provided in section
103(1)(e) of the Banking
Law.
(e) Securities
holdings of, and loans to the same entity, must be aggregated for the purpose
of the thresholds set under subdivisions (a), (c) and (d) of this
section.
