3 CRR-NY 51.4NY-CRR
3 CRR-NY 51.4
3 CRR-NY 51.4
51.4 Miscellaneous provisions.
(a) Reliance on written communication of department.
For the purposes of the deposit agreement, the foreign branch, the foreign agency and the depository shall accept and rely upon, as an order of the superintendent, any written communication with the seal of the department affixed thereto, and signed:
(1) by the superintendent;
(2) by a deputy superintendent of banks; or
(3) by any two employees jointly of the department whom the superintendent may designate, to the depository, the foreign branch or the foreign agency (whichever is the addressee of such communication).
(b) Release from compliance with terms or conditions of deposit agreement.
The superintendent may by order relieve the foreign branch, the foreign agency or the depository from compliance with any term or condition of the deposit agreement, including any term or condition prescribed by this Part, if the superintendent shall find such action necessary or proper to give effect to the purposes of section 202-b(1) of the Banking Law or of this Part.
(c) Written communication to the superintendent.
Written communication to the superintendent regarding this Part should be addressed to the Banking Department at the address set forth in section 1.1 of Supervisory Policy G 1 of this Title; Attention: Foreign and Wholesale Banks Division.
3 CRR-NY 51.4
Current through January 31, 2023
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