N.Y. Banking Law § 218: Supervision and reports

§ 218. Supervision and reports. Such corporation shall be subject to

the supervision, examination and control of the superintendent of

financial services in the same manner as banking organizations are so

supervised, examined and controlled by him pursuant to this chapter, and

shall be examined by him annually, but such corporation shall not be

deemed to be a banking organization nor be required to pay a fee for

such an examination. Such corporation shall make an annual report of its

condition to the governor, legislature and superintendent of financial

services, on or before January first of each year.

Commencing January first, nineteen hundred eighty-six, such annual

report shall contain but not be limited to the following:

a. information on the cost and sources of funds and capital and the

total allowable maximum amount available from members, the maximum

amount committed by each individual member, and the corporation's

outstanding liabilities to members;

b. classification of firms in the corporation's portfolio by standard

industrial code, including a breakdown of (i) size of firms by sales and

number of employees, (ii) number and percentage of loans to

manufacturing, service and wholesale businesses, and (iii) number and

percentage of loans to traditional industries and to high technology

firms within the manufacturing sector;

c. information on the types of financing provided by the corporation,

including guaranteed loans, the size and term of loans, and a breakdown

of investments by senior debt, subordinated debt and equity financings;

d. information on interest rates of loans, including percentage of

fixed rate and variable rate loans;

e. information on the use of capital provided by the corporation,

including number of working capital loans, loans to assist leveraged

buyouts by employees, management or others, and secured mortgages for

plant expansion or new production facilities;

f. information on how the corporation is fulfilling its mission to

assist women and minority owned businesses;

g. information on resources and actions taken to advance the

corporation's marketing program;

h. information on the corporation's regional offices, including a

description of the volume of business and the nature of loan activity at

each office;

i. information on the activities of the corporation's MESBIC; and

j. information on the corporation's pilot export financing program,

including the number of firms serviced and the types of assistance

provided.