Sec. 102.3. Information and documents requested

A foreign banking corporation seeking a license to establish or maintain a representative office must submit the following information and documents:

(a) the name and principal place of business of such foreign banking corporation;

(b) the place where the proposed representative office will be located;

(c) the names of and biographical information, including a description of the educational and business background, for any person(s) who shall act as representative(s) of the corporation;

(d) a description of the history and background of the foreign banking corporation, including the following:

(1) brief history of the foreign banking corporation;

(2) ranking by asset size in the home country;

(3) number of offices in the home country;

(4) description of organization structure of the foreign banking corporation (including shareholders directly or indirectly owning or controlling 10 percent or more of the capital stock of the applicant, its affiliates and any agencies, branches or representative offices of the applicant in the United States and other countries);

(5) description of management structure, including board of directors and principal officers of the foreign banking corporation;

(6) description of the business of the foreign banking corporation;

(e) an organization chart for the foreign banking corporation and its top tier parent, if any, showing all affiliated companies and the place where each company is organized;

(f) financial statements:

(1) a consolidated statement of the applicant's financial condition as of a date within 90 days prior to the date of application, certified by the applicant's chief executive or financial officer;

(2) audited consolidated financial statements, including statements of income and expense, for the applicant's latest three fiscal years or for the period that applicant has been in business if less than three years, certified by the applicant's chief executive or financial officer, with amounts to be shown in the applicant's local currency and the United States dollar equivalent;

(3) calculation of applicant's risk-based capital ratio; and

(4) an English language copy of the applicant's latest annual report;

(g) an analysis of loans, including, but not limited to, information on delinquencies, nonaccrual loans, assets acquired in satisfaction of debts previously contracted, and loans with reduced interest charges;

(h) an analysis of the extent of country risk exposure of the applicant;

(i) a list of the major United States and other correspondent bank relationships of the applicant, a list of United States and other banks which have extended any lines of credit to the applicant and the amount of such lines;

(j) a profile of the home country including a description of:

(1) political and economic structure;

(2) economic ties with Export-Import Bank, International Monetary Fund, World Bank and other similar organizations;

(3) foreign trade, including balance of payments with the United States and other countries; and

(4) foreign exchange restrictions;

(k) a description of the bank regulatory system in the home country of the applicant and, if different, any top tier foreign banking corporation that owns or controls the applicant, addressing in each case:

(1) the extent to which the foreign banking corporation is subject to comprehensive supervision or regulation on a consolidated basis by its home country authorities, including whether each foreign banking corporation is supervised or regulated in such a manner that its home country supervisor receives sufficient information on the worldwide operations of the foreign banking corporation (including the relationships of the foreign banking corporation to any affiliate) to assess the foreign banking corporation's overall financial condition and compliance with law and regulation;

(2) the powers and functions of the home country authorities;

(3) the frequency and scope of supervisory examinations of banking institutions;

(4) the function of the Central Bank and its relationship to private banking institutions in the home country;

(5) the deposit insurance system, if any, in the home country; and

(6) the extent to which banking institutions from other countries are permitted to conduct business in the applicant's home country;

(l) a statement from the home country authorities that:

(1) such authorities do not object to the establishment of the proposed representative office; and

(2) the foreign banking corporation is duly organized and licensed to conduct a general banking business and is in good standing;

(m) a description of the types of activities to be conducted and, if applicable, the types of business to be solicited at the proposed representative office;

(n) a description of the staffing of the office and the manner in which the office will be supervised by the applicant, including number of persons to be employed, their capacities and names and brief biographies of the representative(s) and other key personnel;

(o) a certified copy of resolutions of applicant's board of directors either sworn to before a United States Consular Official or, where the applicant's country of origin is a party to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents, accompanied by an apostille as provided in Supervisory Procedure G 7 of this Title:

(1) authorizing the filing of the application and designating the officer who is to sign the application;

(2) designating the person or persons who is/are to be the representative(s) of the applicant or who shall be authorized to appoint such person or persons;

(3) authorizing the appointment of the superintendent as true and lawful attorney for service of process; and

(4) authorizing the designation of the person to whom process may be forwarded by the superintendent;

(p) a duly executed instrument appointing the superintendent the applicant's true and lawful attorney for the service or process;

(q) a certificate of designation, specifying the name and address of the person to whom process may be forwarded by the superintendent;

(r) an affidavit of the proposed representative(s) describing any legal proceedings against him or her;

(s) two duly authenticated copies of applicant's charter and bylaws or the equivalent thereof;

(t) an opinion of a member of the Bar of the State of New York stating that the activities of the proposed representative office are in compliance with section 221-a(3) of the Banking Law and Supervisory Policy FB 2;

(u) an opinion of a member of the bar of the applicant's home country that:

(1) applicant's charter authorizes it to conduct the activities permitted to the proposed representative office; and

(2) the application complies with the laws of the applicant's home country;

(v) a certificate signed by a senior executive officer of the applicant certifying that the applicant is conducting its business as authorized by its charter and bylaws and in compliance with the laws of its home country;

(w) a statement containing factual data to demonstrate that the public convenience and advantage will be promoted by approval of the application, including the applicant's rationale for wishing to establish a representative office in New York State;

(x) a statement from the foreign banking corporation providing the superintendent with adequate assurances that information will be made available to the superintendent on the operations or activities of the foreign banking corporation and any of its affiliates that the superintendent deems necessary to determine and enforce compliance with applicable New York State laws and regulations; and

(y) such additional documents or information as the superintendent may require.