Wild Card Approvals

Actions Taken Under Section 12-a of the Banking Law

Institution Type	Subject	Power Granted	Date Approved	Application?	Date Received	Applicant	Applies to	Need DFS approval?	Procedure Letter?
Banks and Trust Companies	Capital	Repurchase of common stock	2008-02-07 see resolution	No NYBL §12-a (4)	n/a	n/a	All institutions	Yes	Yes see letter
Banks and Trust Companies	Fiduciary Activities	Administration of common trust funds and commingled investment funds	2008-06-11 see resolution	No NYBL §12-a (4)	n/a	n/a	The Bank of New York	No	No
Banks and Trust Companies	Lending	Special lending arrangements for emergency situations	2008-09-25 see resolution	No NYBL §12-a (4)	n/a	n/a	All institutions	Yes	No
Credit Unions	Lending	Ability to purchase and sell loans and participations to the same extent as federally chartered credit unions	2020-04-14 see order	n/a	n/a	n/a	New York State-chartered credit unions	No	n/a
Credit Unions	Loans to Officers and Employees	Qualified Credit Unions may make certain loans to officers and employees without prior board approval	2019-10-09 see order	No NYBL §12-a (4)	n/a	n/a	All Qualified NY-chartered credit unions	No	No
Credit Unions	Funding	Accept secondary capital and nonmember deposits	2018-12-19 see order	No	n/a	n/a	n/a	Yes	No
Credit Unions	Health insurance premiums for board members	Reimburse board members for qualifying health insurance premiums	2018-10-01 see order	No NYBL §12-a(4)	n/a	n/a	All NY-chartered credit unions	No	No
Credit Unions	Oaths of Office	Relief from need to take and file oaths of office	2017-04-05 see notice	Yes	2016-10-06	Four Credit Unions	All NY-chartered credit unions	No	No
Credit Unions	Student Branches	Retain student membership for former students; allow faculty and staff to become members	2017-11-28 see order	No NYBL §12-a(4)	n/a	n/a	All NY-chartered credit unions	Notice required	No
Foreign Banking Corporations - Multiple	Interest on certain mortgage escrow accounts	Adjusts minimum interest rate that certain mortgage investing institutions pay on certain escrow accounts	2018-01-19 see order	No NYBL §12-a(4)	n/a	n/a	All NY-chartered banks, private bankers, trust companies, savings banks, savings and loan associations and credit unions	No	No
Mutual Thrift Institutions	Age Restrictions	Permits mutual thrift institutions to select trustees and directors without regard to age	2019-04-11 see order	No NYBL §12-a(4)	n/a	n/a	All NY-chartered mutual thrift institutions	No	No
Mutual Thrift Institutions	Family Restrictions	Permits well capitalized and well managed mutual thrift institutions to select trustees and directors with fewer restrictions	2019-06-13 see order	No NYBL §12-a(4)	n/a	n/a	All NY-chartered mutual thrift institutions	No	No
Private Bankers	Co-location with other banking institutions	Ability to co-locate	2020-03-27 see notice	Yes	2019-11-27	Brown Brothers Harriman & Co.	All NY-authorized private bankers	No	No
Savings Banks and S&Ls	Reorganization into a two-tier mutual holding company structure	Allows NY-chartered mutual savings banks or S&Ls to form a two-tier mutual holding company structure	2018-11-09 see order	Yes	2018-09-11 Amended 2018-10-24	Rhinebeck Bank and its parent, Rhinebeck Bancorp, MHC	NY-chartered mutual savings banks or S&Ls	Yes	N/A
Savings Banks and S&Ls	Conversion of stock form savings bank to commercial bank	Allows direct conversion of NY-chartered stock form savings bank to commercial bank	2018-04-17 see notice	Yes	2016-10-06	Fairport Savings Bank	All NY-chartered stock form savings banks	Yes	No

N.B. All wild card powers granted by the Banking Board pursuant to former Sections 14-g and 14-h of the Banking Law remain in effect. (BL §12-a(9).) Such powers may be found in Part 6 of the General Regulations of the Banking Board.