Table of Contents
Index of Schedules
WTC Tribute
Department and Industry Response to 9/11 Attacks
150th Anniversary and Celebration
Employee Recognition / Awards
State of the Financial Industry
Holocaust Claims Processing Office
Criminal Investigation Bureau
Enforcement Actions
Banking Development Districts
"On the Road"
Predatory Lending
Governor Pataki Addresses the Banking Department Staff
Banking Board Membership
Office Locations

Foreign Banking Organizations

The foreign banking community in New York remains vibrant, and New York remains the primary international banking center of the world. The worldís largest global banking enterprises are represented in New York through 96 branches and 32 agencies, with aggregate total assets of just under $800 billion. In addition, New York has 59 licensed representative offices of foreign banks. All told, banks from 46 countries have offices in New York licensed by the Department, including 37 countries with branches and agencies and 9 with representative offices. A decline in the number of institutions was due, in part, to consolidation, but was also due to retrenchment, especially among the Japanese banks. Notwithstanding the decline in numbers of institutions, the total assets at these offices grew 5.9% from the prior year's level. A portion of this growth relates to New York being selected as the consolidated center of many foreign banking organizationsí U.S. operations.

These entities, together with the domestic banks, provide for a healthy, highly competitive financial center, thereby enhancing the liquidity of both the local and national financial markets. These offices also strongly contribute to the Stateís economic vitality providing thousands of jobs.

Several of these foreign banking organizations were severely affected by the tragic events of September 11th, through the loss of life, the destruction of their premises and records, or their temporary displacement from the downtown area. Each managed a swift recovery of their business activity, and virtually all have made a commitment to remain and prosper in the New York market.

International Cooperation

The Department continues to forge relationships with foreign bank supervisors and the international banking community to enhance global bank supervision.

  • The Department has conducted extensive research and provided insightful comments on the Basel Capital Accord proposal. These research efforts will be expanded in 2002.

  • The examination staff at the Banking Department has attained an outstanding reputation for its breadth of knowledge and sophisticated examination skills. The Departmentís capital markets and trust teams have assumed a leadership role in providing training seminars abroad to banking supervisors, sharing its expertise in assessing financial and operational risks and our keen understanding of capital markets. The teams have worked with both domestic and foreign supervisors on coordinated examinations and training.

  • The Department is the only U.S. banking agency to maintain overseas offices.

    The Asian District Office has focused on the safety and soundness of State-chartered/licensed banks in the Asia/Pacific Region. To that end the Asian District Office has performed examinations in all of the major financial centers in the Region. In cooperation with the local country banking supervisory authorities, the Asian District Office has developed a close working relationship to improve the Banking Departmentís understanding of the unique environment in which New York State-chartered/licensed Banks operate in Asia. The Tokyo Office provides real time information on Asian banking developments to the Departmentís New York Headquarters. In this way, the Asian District Office acts as an early warning system in the Asia/Pacific region. In 2001 the Region experienced a significant economic slowdown that weakened the banking industry. The Tokyo Office continues to monitor these developments in order to keep the Departmentís New York Headquarters informed. This activity gives the Department an important edge as the host country supervisor of many Asia/Pacific banks in New York.

    During 2001, the European District Office in London continued its efforts to develop and maintain relationships with the major European banking supervisory authorities. This enabled the Department to better supervise the overseas operations of the banks for which it has global consolidated, comprehensive supervisory responsibilities through exchanges of information and local on-site visits. It also enhanced the Departmentís ability to fulfill its role as a host supervisor to the diverse foreign banking community in New York.


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 Tribute to World Trade Center Victims | Department and Industry Response to 9/11 Attacks | 150th Anniversary Celebration | Employee Awards | State of the Financial Services Industry | Holocaust Claims Processing Office Accomplishments | Criminal Investigations Bureau Accomplishments | Enforcement Actions | Banking Development Districts | The Superintendent's Travels Throughout New York State | Predatory Lending | Governor Pataki's Address to the New York State Banking Department Staff | Banking Board Membership | Schedules | Office Locations

NYS Banking Department