N.Y. Comp. Codes R. & Regs. tit. 3 § 325.2

Current through Register Vol. 46, No. 25, June 18, 2024

Section 325.2 - Nonaccrual threshold

(a) For the purpose of section 109(2)(a) of the Banking Law, the period of time beyond which a bank or trust company must not accrue interest upon a defaulted asset will be 90 days, except as noted in section 325.3 of this Part.

(b) For the purpose of sections 244(1)(b) and 386(1)(a) of the Banking Law, savings banks and savings and loan associations, respectively, will be subject to the same rules as banks and trust companies regarding the nonaccrual of interest.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 325.2