- (a) the proposed branch, agency or representative office will promote the public convenience and advantage; and
- (b) the character, responsibility and general fitness of the foreign banking corporation, its principal shareholders, its management and the person(s) designated to represent such foreign banking corporation are such as to command confidence and warrant belief that the business of such foreign banking corporation will be honestly and efficiently conducted in accordance with the intent and purpose of the New York Banking Law.
No foreign banking corporation shall be granted a license to establish and maintain a branch, agency or representative office in this State, unless the Superintendent of Financial Services (“superintendent”) shall have found that: