N.Y. Banking Law § 86

§ 86. Eligibility. 1. To be eligible to receive deposits, or to renew\nexisting deposits under this program, a bank, trust company, savings\nbank or savings and loan association: (a) must be chartered under the\nprovisions of this chapter and (b) must have a current CRA rating of\nsatisfactory or better. The superintendent shall, if requested by the\nstate comptroller or the commissioner of taxation and finance, confirm\nwhether a particular banking institution meets the criteria specified in\nthis section.\n 2. A federal bank, trust company, savings bank or savings and loan\nassociation may also be eligible to receive deposits, or to renew\nexisting deposits, under this program if: (a) its principal office is\nlocated in this state; (b) it has a current CRA rating of satisfactory\nor better; and (c) it meets any additional criteria established by the\ncomptroller and the commissioner of taxation and finance to determine\neligibility for participation in the program. Such criteria may include\nan institution's loan to deposit ratio, its record of small business\nlending, and the impact such deposits would have on an area's economic\nactivity.\n