N.Y. Comp. Codes R. & Regs. tit. 3, Sup. Pol. FB § 2.3 – Permissible activities.

(a) The activities that may be conducted by a representative office of a foreign banking corporation in this State on behalf of such foreign banking corporation shall be limited to the following:
1. (1) solicitation of loans in principal amounts of $250,000 or more and, in connection therewith, assembly of credit information, making of property inspections and appraisals, securing of title information, preparation of applications for loans (including making recommendations with respect to action thereon);
2. (2) solicitation of purchasers of loans from the foreign banking corporation;
3. (3) solicitation of parties to contract with the foreign banking corporation for the servicing of its loans;
4. (4) solicitation of other banking business on behalf of the foreign banking corporation, except for solicitation of deposits or deposit-type liabilities;
5. (5) conduct of research;
6. (6) acting as liaison with customers of the foreign banking corporation;
7. (7) acting as liaison with correspondents of the foreign banking corporation;
8. (8) execution of loan documents for loans in principal amounts of $250,000 or more pursuant to specific written authorization with respect to each such loan;
9. (9) in the case of regional administrative offices, manage, supervise or coordinate the operations of the foreign bank or its affiliates, if any, in a particular geographic region, including credit approvals; and
10. (10) any other activity approved in writing by the superintendent.
(b) Notwithstanding the foregoing, a representative office may not engage in a banking business or trading activities for the account of the foreign banking corporation, or, on behalf of the foreign banking corporation, make final credit decisions (except in the case of a regional administrative office), execute documents for or solicit loans in principal amounts of less than $250,000, disburse funds, transmit funds, accept loan repayments or solicit, accept or contract for deposits or deposit-type liabilities.