§ 1-02 Definitions.
RCNY § 1-02
The following definitions are solely for the purposes of these rules: Bank. "Bank" shall mean (1) a bank or trust company, as defined in New York State General Municipal Law § 10; or (2) a branch of a savings bank, savings and loan association, federal savings and loan association, or federal savings bank located in a banking development district, as approved by the State of New York Banking Department, provided such branch (i) was opened after such approval or (ii) is a branch of the applicant to the Department for designation of the district and was opened on or after January 1, 1997. Banking Commission. The "Banking Commission" shall consist of the mayor, the commissioner of finance and the comptroller as specified in Section 1524 of the Charter and shall by majority vote designate, by written notice to the Commissioner of Finance, banks in which all moneys of the City shall be deposited. Banking development district. "Banking development district" shall mean a geographic area approved by the New York State Banking Department as a banking development district pursuant to New York State Banking Law § 96-d and rules promulgated thereunder. Branch. A "branch" shall mean any office or facility of a bank that is approved to operate as a branch by applicable state or federal authorities. Notwithstanding the above, the definition of "branch" shall not include automatic teller machines, convenience centers, mobile teller units, point-of-sale terminals, or similar facilities. Branch closing. A "branch closing" shall refer to a situation whereby an existing branch of a bank shall cease to meet the definition of a "branch" as defined in 22 RCNY § 1-02 "Branch". Each branch merged or consolidated into a new or existing branch shall be deemed a branch closing. A sale or transfer of ownership of a branch of a bank that does not result in the cessation of branch services at that particular location as defined in 22 RCNY § 1-02 "Branch" shall not be deemed a closing, even though ownership of such branch has been transferred or sold to another entity or person. Branch network. A "branch network" shall mean all of the branches of a bank which are located in New York City. Branch opening. A "branch opening" shall mean the establishment of a new branch at a particular location as defined in 22 RCNY § 1-02 "Branch". A branch opening shall not include (1) a consolidation or merger of two or more branches that results in a new branch at a particular location, or (2) an acquisition of an existing branch. De minimis exception. The "de minimis exception" shall apply: (1) to any bank that maintains at least seventy-five branches in New York City and has closed no more than two branches in lower income neighborhoods during the prior calendar year and no more than a total of five branches in lower income neighborhoods over the three prior consecutive calendar years; and (2) to any bank that maintains between fifteen and seventy-four branches in New York City and has closed no more than one branch in a lower income neighborhood during the prior calendar year and no more than a total of two branches in lower income neighborhoods during the three prior consecutive calendar years. Lower income neighborhood or area. "Lower income neighborhood or area" shall mean a census tract located in New York City that is eligible for Federal Community Development Block Grants as administered by the U.S. Department of Housing and Urban Development.
