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Adopted Regulations

Explanatory All Institutions Letter

February 16, 2005


RE: Amendments to Part 301.5 of the Superintendent’s Regulations, Title 3 NYCRR  (Security at Automatic Teller Facilities)

The Superintendent has adopted as final the attached amendments to Part 301.5 of the Superintendent’s Regulations.  The amendments became effective upon publication in the February 16, 2005 State Register.

On May 5, 2003, the Legislature amended Banking Law Section 75-c to increase from 30 to 45 days the period of time for which banking institutions are required to retain recordings made by surveillance cameras at their ATM facilities.  This extension of time was intended to take account of the fact that customers generally receive their monthly bank statements some days after the conclusion of a 30 day statement cycle.  Under the former 30 day retention period, the customer might not become aware of an ATM fraud problem until after the video evidence of fraudulent activity had been discarded. The amendments conform the retention period specified in Part 301.5 to the change in the law.

Former subsection (a) of Part 301.5 effectively required that a banking institution surveillance camera within an ATM facility use videotape, while subsection (c) permits a banking institution to seek approval from the Superintendent for an alternative method of producing images.  Digital surveillance systems for ATM facilities are becoming increasingly common, and a number of banking institutions have obtained approval from the Superintendent to use them. The amendment adds a new subsection (b) to Part 301.5 which effectively gives a banking institution the option of using a digital surveillance system without requiring the approval of the Superintendent in each individual case. 

Very truly yours,

Sam L. Abram
Secretary of the Banking Board 

Department of Financial Services


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