2002 Yellow Book
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BANKING DEPARTMENT
 


                                  Adjusted     Executive
                             Appropriation       Request               Percent
                                   2001-02       2002-03        Change  Change


AGENCY SUMMARY
  Special Rev.-Fed.                      0       500,000      500,000     --  
  Special Rev.-Other            63,370,100    71,848,000    8,477,900   13.38%
  Total for Agency:             63,370,100    72,348,000    8,977,900   14.17%
  Total Contingency:             2,700,000     2,700,000            0    0.00%
  Total for AGENCY SUMMARY:     66,070,100    75,048,000    8,977,900   13.59%


STATE OPERATIONS
  Special Rev.-Fed.                      0       500,000      500,000     --  
  Special Rev.-Other            63,370,100    71,848,000    8,477,900   13.38%
  Total for STATE OPERATIONS:   63,370,100    72,348,000    8,977,900   14.17%

Administration
  Special Rev.-Other             5,805,000     6,351,000      546,000    9.41%
  Total for Program:             5,805,000     6,351,000      546,000    9.41%

Regulation
  Special Rev.-Fed.                      0       300,000      300,000     --  
  Special Rev.-Other            54,077,100    61,721,000    7,643,900   14.14%
  Total for Program:            54,077,100    62,021,000    7,943,900   14.69%

Analysis and Compliance
  Special Rev.-Fed.                      0       200,000      200,000     --  
  Special Rev.-Other             3,488,000     3,776,000      288,000    8.26%
  Total for Program:             3,488,000     3,976,000      488,000   13.99%

CONTINGENCY
  Fiduciary                      2,700,000     2,700,000            0    0.00%
  Total for CONTINGENCY:         2,700,000     2,700,000            0    0.00%

Administration
  Fiduciary                      2,700,000     2,700,000            0    0.00%
  Total for Program:             2,700,000     2,700,000            0    0.00%

                                                                    
                                                                    
      

                         ALL FUNDS PERSONNEL
                        BUDGETED FILL LEVELS
                                                                    
                                                                    
      
                                   Current     Requested
Program                            2001-02       2002-03   Change
                                                                    
                                                                    
      
Administration                          64            64        0
Regulation                             497           497        0
Analysis and Compliance                 38            38        0
Total All Other Funds :                599           599        0

TOTAL:                                 599           599        0
                                                                    
                                                                    
       

                          BUDGET HIGHLIGHTS
                   (Executive Budget: pp. 271-273)

The Banking Department is charged with protecting the public's
interest by regulating and supervising an estimated 3,200 State-
chartered banking institutions with total assets of approximately $2.1
trillion.  

The Banking Department is included in the Public Protection and
General Government appropriation bill.

The Governor proposes an All Funds Appropriation of $75,048,000, an
increase of $8,977,900 or 13.6 percent over State Fiscal Year (SFY)
2001-02.  The Banking Department is supported entirely by fees charged
to regulated financial institutions and organizations.

State Operations

The Executive recommends support in SFY 2002-03 for the following
programs:

--     a net increase of $4,319,000 to reflect salary adjustments,
       nonpersonal services, inflation, and fringe benefits associated
       with agency operations;

--     a request of $4,000,000 for moving and increased rental costs
       associated with the expiration of their lease located at 2
       Rector Street;

--     a Federal Grant in the amount of $500,000 that will upgrade
       computer networks in order to help combat money laundering and
       predatory lending;

--     a suballocation in the amount of $200,000 from the Banking
       Department to the Office of the Inspector General for
       nonpersonal services and expenses; and

--     a suballocation to the Departments of Law and Taxation and
       Finance in the amount of $938,000 for the services and expenses
       incurred on behalf of the Crime Proceeds Task Force.

The Executive proposal maintains support for the following programs:

--     Continuation of ongoing efforts of the Holocaust Office.  This
       Office assists survivors of the Holocaust or their heirs in
       making claims on assets believed to have been in existence
       during the time period of 1933-1945.  In addition, the State
       Insurance Department will suballocate $397,000, a $23,000
       increase from SFY 2001-02, to the Banking Department to assist
       in the Holocaust Office's efforts to recover properties
       belonging to Holocaust victim survivors;

--     Continuation of the Office of Regulatory Presence in Tokyo. 
       This initiative provides the Banking Department with an
       opportunity to establish a presence in Asia and facilitate a
       better working relationship with banking institutions located
       in the Far East;

--     Support to enforce the Automated Teller Machine (ATM) Safety
       Program, allowing the Banking Department to comply with the
       Automated Teller Machine Safety Act of 1996; and 

--     Continuation of funding for trainee positions in the Bank
       Intern Program.

The Executive Budget provides $2,700,000 in a contingency
appropriation for services and expenses related to the State
transmitter of money insurance fund.

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