Banking Department
skip breadcrumbs| All amounts are in dollars |
| Category | Available 2007-08 |
Appropriations Recommended 2008-09 |
Change From 2007-08 |
Reappropriations Recommended 2008-09 |
|---|---|---|---|---|
| State Operations | 96,642,000 | 98,383,000 | 1,741,000 | 4,500,000 |
| Aid To Localities | 1,500,000 | 3,500,000 | 2,000,000 | 0 |
| Total | 98,142,000 | 101,883,000 | 3,741,000 | 4,500,000 |
| Full-Time Equivalent Positions (FTE) |
| Program | 2007-08 Estimated FTEs 03/31/08 |
2008-09 Estimated FTEs 03/31/09 |
FTE Change |
|---|---|---|---|
| Administration | |||
| Special Revenue Funds - Other | 63 | 63 | 0 |
| Analysis and Compliance | |||
| Special Revenue Funds - Other | 35 | 35 | 0 |
| Regulation | |||
| Special Revenue Funds - Other | 452 | 452 | 0 |
| Total | 550 | 550 | 0 |
Note: Most recent estimates as of 01/22/08.
Mission
The Banking Department is charged with protecting the public interest and promoting a desirable business climate by regulating and supervising approximately 3,600 State chartered banking institutions and licensees with total assets of approximately $1.8 trillion. In carrying out this responsibility, the Department approves acquisitions, branch expansions, mergers and other forms of consolidation. It also levies fines, orders cessation of unsound financial practices and replaces management as needed. In addition, the Department is authorized to take possession of failing institutions and to operate or liquidate them for the benefit of depositors and creditors. In exercising this oversight, the Banking Department maintains the highest standards to assure the continued safety and soundness of, and the full public confidence in, the institutions supervised. By dealing decisively with institutions that are not in compliance with banking laws and regulations, or cases of malfeasance, the Department promotes a desirable business climate for all financial institutions operating in New York State.
Budget Highlights
The Executive Budget recommends $101.9 million All Funds ($101.9 million Special Revenue Funds) for the Banking Department. This is an increase of $3.7 million from the 2007-08 budget. This net change primarily reflects a $2 million increase for local assistance grants related to the Governor's Halt Abusive Lending Transactions Taskforce and continued growth in personal services costs.
The Executive Budget recommends a staffing level of 550 FTEs for the Banking Department, representing no change from the 2007-08 budget.
The Banking Department's operations are primarily funded through assessments charged to regulated financial institutions and organizations. The remainder of the Department's operating budget is derived from fees such as investigation fees paid by entities applying for licensure or State charter. Of the recommended $101.9 million, the Department's operating budget totals $87.9 million and the remaining $14 million is an appropriation to support the State Transmitter of Money Insurance Fund which protects moneys that New Yorkers electronically transfer via commercial third parties.
2008-09 Executive Budget — Agency Presentation
Banking Department (PDF)