NY A08105

Replaces references to credit rating agencies with superintendent-established creditworthiness standards for bank investments in bonds, obligations, and securities across multiple banking law provisions.

Adds new section 260-A requiring savings banks to submit proposed changes to organization certificates or by-laws to the superintendent for written approval before posting and adoption.

Modifies section 402 to streamline procedures for savings and loan associations to amend articles and by-laws, removing the prior court review process for superintendent-denied changes.

Authorizes the superintendent to determine how credit exposure from derivative transactions, repurchase agreements, reverse repurchase agreements, and securities lending transactions count toward investment limits.

Expands confidentiality protections for examination and investigatory reports to include disclosure when laws specifically authorize it, and clarifies application to all persons and entities supervised under the banking law.