N.Y. Comp. Codes R. & Regs. tit. 3 § 323.1
Section 202-a(1)(c) of the Banking Law permits a licensed agency of a foreign banking corporation to accept deposits other than from citizens or residents of the United States as the superintendent shall define. The purpose of this Part is to define the term residents of the United States as used therein, and to provide for appropriate disclosures as to the uninsured status of such deposits. Unlike large-denomination obligations which may be issued to corporations and other business entities pursuant to section 202-a(1)(b) of the Banking Law and Part 81 of this Title, the deposits which may be taken pursuant to the terms of this Part 323 may be in amounts of less than $100,000 and may be taken from natural persons as well.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 323.1