N.Y. Comp. Codes R. & Regs. tit. 3 § 77.1
Sections 235 (8-c) and 380-k of the Banking Law permit savings banks and savings and loan associations to invest in promissory notes representing commercial, corporate or business loans subject to the individual and aggregate restrictions provided therein. Sections 235(28-b) and 380-j permit such institutions to acquire and lease personal property. Other provisions of the Banking Law empower such institutions to invest in loans secured by mortgages on commercial real estate, and such loans are often made to corporate obligors or other business entities. Moreover, such institutions may, under other provisions of law, invest in certain corporate interest-bearing securities. The authority to make the investments referred to in this section are additional authority and, except as specifically provided herein, shall not be deemed to limit the investment authority of such institutions which is provided under any other provision of law.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 77.1