Foreign Banking Corporation Licensing
Information concerning the licensing of a foreign banking corporation to establish and maintain a branch or agency in New York.
The statutory requirements for the licensing of a foreign banking corporation to establish and maintain a branch or agency in New York are specified in Section 200 and 201 of the New York Banking Law. In addition, Section 26 of the statute specifies the criteria for approval of the application in terms of character, responsibility and general fitness of the applicant as well as the promotion of public convenience and advantage. Additional factors considered by the Superintendent in connection with the licensing of branches or agencies may be found in Supervisory Procedure FB 1.
The application requirements are set forth in Supervisory Procedure FB 101 and Form FB-101.
Applicant must maintain policies and procedures designed to ensure and monitor compliance with the Bank Secrecy Act (BSA) as amended by the USA PATRIOT Act and the anti-money laundering programs of Part 115 of the General Regulations of the Banking Board. A compliance program must include, at a minimum, a system of internal controls to assure ongoing compliance, independent testing for compliance to be conducted by bank personnel or by an outside party, the designation of an individual or individuals responsible for coordinating and monitoring day-to-day compliance, and training for appropriate personnel.
You should discuss your proposal with DFS prior to the preparation of a formal application. Contact us to arrange a mutually convenient time for a meeting.
Application Information and Forms
- Foreign Branch/Agency Application Detailed Requirements
- Questionnaire (PDF)
- Statement of Financial Condition (PDF)
- Projected Average Assets and Liabilities (PDF)
- Application Certificate (PDF)
- Supervisory Policy G 7 (PDF)
- Appointment of Superintendent of Financial Services as True and Lawful Attorney (PDF)
- Designation of Person to Whom Process May be Forwarded by the Superintendent (PDF)
- Litigation Affidavit (PDF)
- Capital, Surplus, and Undivided Profits Certification (PDF)
- Agreement Pursuant to Section 9(b) of the International Banking Act of 1978 (PDF)
- Certificate of Compliance With Section 296-a of the Executive Law of the State of New York (PDF)
- Taxpayer ID Form (PDF)
Application for a change of location - Foreign Branch/Foreign Agency
- Instructions
- Application Form (PDF)
- Designation of Person to Whom Process May be Forwarded by the Superintendent (PDF)
Application to Establish, Maintain, or Use a Representative Office
- Application and Requirements
- Questionnaire (PDF)
- Statement of Financial Condition (PDF)
- Application Certificate (PDF)
- Supervisory Policy G 7 (PDF)
- Appointment of Superintendent of Financial Services as True and Lawful Attorney (PDF)
- Designation of Person to Whom Process May be Forwarded by the Superintendent (PDF)
- Litigation Affidavit (PDF)
- Agreement Pursuant to Section 9(b) of the International Banking Act of 1978 (PDF)
- Certificate of Compliance With Section 296-a of the Executive Law of the State of New York (PDF)
- Taxpayer ID Form (PDF)
Notification of a change of location - Foreign Representative Office
- Instructions
- Application Form (PDF)
- Designation of Person to Whom Process May be Forwarded by the Superintendent (PDF)
Asset Pledge Resources
- Asset Pledge List
- Asset Pledge Form - Regular (PDF)
- Asset Pledge Form - Well Rated (PDF)
- Control Agreement (PDF)
- Deposit and Pledge Agreement (PDF)
Other Applications and Resources
- Authorization of Fiduciary Powers for Foreign Banking Corporations
- Permission for a Foreign Banking Corporation to Change its Name
- Merger or Change of Control of Foreign Banking Corporation
- Issuance of Large Denomination Obligations by Foreign Agencies
- Change of Manager, Representative, or Individual Designated to Receive Process