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Commitment to Lower Manhattan

The Department and the financial services industry re-affirmed their commitment to maintaining Lower Manhattan as the financial capital of the world.

Enhanced Community Reinvestment Act Consideration Offered for Institutions that Help in the Rebuilding Efforts
The Department continued to offer favorable CRA consideration for loans, investments or services that banks provided to individuals and businesses that helped in the reconstruction of the area south of Canal Street and west of Broadway. CRA credit was also granted for the assistance banks provided to people who were displaced by the September 11th attacks.

Banking Department Moves to One State Street Plaza
Banking Department's New Manhattan Office location
Banking Department's New Manhattan Office location
The Banking Department moved its Manhattan office to One State Street. The move demonstrated the Department's commitment to Lower Manhattan's role as the financial capital of the world. As Superintendent McCaul said, "Our resolve is stronger than ever to help in the rebuilding efforts and to continue to assist our financial institutions. I can think of no better way to do that than by remaining in the Financial District."

The new office is designed to afford significant advantages to the Department through maximum use of floor space, a more productive environment for critical workgroups, improved communication, and an upgrade of the infrastructure of the Department's computer and telecommunications systems. The technological upgrades are designed to strengthen the Department's ability to monitor the safety and soundness of the financial industry through faster and more secure data transmission.

The Department's Information Technology and Office Services staff worked nights and weekends for months to prepare for the move, while continuing to provide for the needs of nearly 600 employees.

Bank of New York Reopens 101 Barclay Street Technology and Operations Center
Governor Pataki addresses BONY staff, former Superintendent McCaul cuts ribbon to officially open site.
Governor Pataki addresses BONY staff, former Superintendent McCaul cuts ribbon to officially open site.
On July 11, 2002, Governor Pataki and Superintendent McCaul welcomed back the Bank of New York as it reaffirmed its commitment to Lower Manhattan. The Bank of New York reopened its 101 Barclay Street Technology and Operations Center, which was badly damaged by the collapse of the World Trade Center on September 11, 2001.

Chairman and Chief Executive Officer Thomas A. Renyi hosted a ribbon-cutting ceremony celebrating the event; and President George W. Bush, Senator Charles E. Schumer, Senator Hillary Rodham Clinton, and Mayor Michael R. Bloomberg sent congratulatory remarks.

Deutsche Bank Relocates U.S. Headquarters to Lower Manhattan, Commitment Made Under World Trade Center Job Creation Initiative
On December 5, 2002, Governor Pataki, Mayor Bloomberg, and Superintendent McCaul participated in the opening of Deutsche Bank's U.S. headquarters at 60 Wall St.

The move was the result of an agreement between Deutsche Bank and the World Trade Center Job Creation and Retention Program, which provides grant support for businesses relocating to Lower Manhattan. Under the agreement, Deutsche Bank agreed to maintain at least 6,500 jobs in New York City over a ten-year period. At least 5,500 jobs were committed to remain in Lower Manhattan, primarily at 60 Wall Street, with the remaining 1,000 or more jobs located at the bank's existing facilities in midtown.

Prior to September 11, 2001, Deutsche Bank maintained downtown offices totaling 1.8 million square feet at 4 World Trade Center and 130 Liberty Street, in addition to its offices in midtown. 4 WTC was destroyed during the attacks, and 130 Liberty suffered extensive damage, forcing the bank to move employees to other locations.

 

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 State of the Financial Services Industry | 2002 Regulatory Amendments | Holocaust Claims Processing Office Accomplishments | Department's Continued Commitment to Lower Manhattan | Fighting Terrorism | Criminal Investigations Bureau Accomplishments | Enforcement Actions | Consumer Outreach | Banking Development Districts | Banking Board Membership | Office Locations


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