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NY S05296
Bill
Status
6/15/2015
Primary Sponsor
Diane Savino
Click for details
AI Summary
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Changes the superintendent's discretionary authority to mandatory requirement to extend examination intervals from at least once per calendar year to at least once per eighteen-month period for qualifying banking organizations
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Raises the asset threshold for extended examination eligibility from less than $250 million to less than $1 billion in total assets
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Maintains four additional eligibility requirements: well-capitalized status, well-managed and outstanding/good condition at most recent examination, no formal enforcement proceedings, and no acquisitions in the prior twelve months
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Takes effect immediately upon enactment
Legislative Description
Relates to bank organization examinations; requires an extension from one year to eighteen months where a bank has total assets of less than one billion dollars.
Last Action
referred to banks
3/15/2016