N.Y. Comp. Codes R. & Regs. tit. 3 § 34.2

Current through Register Vol. 46, No. 45, November 2, 2024

Section 34.2 - Relationship to federal law

(a) The availability and disclosure provisions of this Part are inapplicable to transaction accounts except as provided in section 34.4(c) of this Part.

(b) Any bank of savings institution may elect to comply with the availability and disclosure provisions of regulation CC of the Board of Governors of the Federal Reserve System with respect to any type or category of non-transaction account (i.e., account as defined in section 34.3[a] of this Part). Compliance with the provisions of regulation CC shall be deemed to be in compliance with the availability and disclosure provisions of this Part. (References to regulation CC are to 12 CFR[FN*] part 229 entitled "Availability of Funds and Collection of Checks".)

[FN*] For information regarding the United States Code (USC or U.S.C.), the Code of Federal Regulations (CFR) and the Federal Register, see Supervisory Policy G 1.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 34.2