N.J. Admin. Code § 3:13-2.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 3:13-2.3 - Reporting for bank holding companies

(a) Subject to (c) below, each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is required to furnish the Federal Reserve System with a report of financial data and other information shall concurrently file a copy with the Commissioner. The form of such report shall be the current form required to be filed under regulations of the Board of Governors of the Federal Reserve System.

(b) Subject to (c) below, if a bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company is not required to make any filing with the Federal Reserve System but is required to file a form 10K or its equivalent with the Securities and Exchange Commission, the bank holding company or person shall concurrently file a copy of this report with the Commissioner.

(c) The requirement to concurrently file with the Department copies of the forms filed with the Federal Reserve System or Securities and Exchange Commission as referenced in (a) and (b) above shall be deemed satisfied if the form is filed with the appropriate Federal agency and is publically available.

(d) Each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is required to file with the Federal Reserve System form FR Y-6 entitled "Annual Report for Bank Holding Companies" shall concurrently file a copy of this report with the Commissioner. The copy of FR Y-6 filed with the Commissioner shall include the required copy of the bank holding company's annual report to shareholders or the required copy of form 10K to the Securities and Exchange Commission.

(e) Each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is required to file with the Federal Reserve System form FR Y-6A entitled "Bank Holding Company Report Changes in Investments or Activities" shall concurrently file a copy of this report with the Commissioner.

(f) Each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is required to file with the Federal Reserve System form FR Y-111 entitled "Annual Report of Selected Financial Data for Non-Bank Subsidiaries of Bank Holding Companies" shall concurrently file a copy of this report with the Commissioner.

(g) Each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is required to file with the Federal Reserve System form FR Y-11Q entitled "Combined Federal Statement of Non-Bank Subsidiaries of Bank Holding Companies" shall concurrently file a copy of its June 30 and December 31 report with the Commissioner.

(h) Each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is required to file with the Federal Reserve System form FR Y-11AS entitled "Annual Supplement to the Combined Financial Statements of Non-Bank Subsidiaries of Bank Holding Companies" shall concurrently file a copy of this report with the Commissioner.

(i) Each bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company which is not required to file with the Federal Reserve System shall:

1. If the bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company is required to file a form 10K with the Securities and Exchange Commission, the bank holding company shall concurrently file a copy of this report with the Commissioner; or

2. f a bank holding company or person that controls a New Jersey bank or a New Jersey bank holding company is not required to make a filing with the Federal Reserve System or to file a form 10K or its equivalent with the Securities and Exchange Commission, the bank holding company or person shall annually, on or before April 30 of each year, file with the Commissioner the following information:

1. Name and address of the company;

2. Names and addresses of principal officers;

3. Names and addresses of controlling shareholders of the company;

4. A summary of material business activities and affiliations during the past five years;

5. A description of pending legal or administrative proceedings in which the company is a party; and

6. A balance sheet of the company, which may be the "Statement of Condition" from its Call report as defined in 3:5-2.1, for each of the five preceding fiscal years, together with related statements of income and sources and applications of funds for each of those fiscal years.

(j) The requirement to concurrently file copies of the Federal Reserve or 10K forms referenced in (a) through (i) above shall be deemed satisfied if the form is filed with the appropriate Federal agency and adequate provision is made for the New Jersey Department of Banking and Insurance to have access to the filing.

N.J. Admin. Code § 3:13-2.3

Amended by 47 N.J.R. 989(a), effective 5/18/2015.