Mission
The Department's legislative mandate was to insure the safe and sound conduct of these businesses, to conserve assets, to prevent unsound and destructive competition, to maintain public confidence in the banking system, and to protect the public interest and the interests of depositors, creditors and shareholders.
The New York State Banking Department was headquartered at One State Street in New York City and had an office in the state capital at the Empire State Plaza, Albany, and an office in Syracuse, New York to serve the most Northern and Western parts of the State.
Revenues to fund the Department's operating budget were derived from fees paid to it by state-chartered institutions. The Department was included in the New York State Executive Budget, and all expenses were paid by the New York State Comptroller out of State funds, reimbursed by the amounts assessed against the institutions subject to supervision. Expenses of examination and operation were paid entirely by the institutions subject to regulation.
Read more about this topic: New York State Banking Department
Famous quotes containing the word mission:
“Perhaps the mission of those who love mankind is to make people laugh at the truth, to make truth laugh, because the only truth lies in learning to free ourselves from insane passion for the truth.”
—Umberto Eco (b. 1932)
“I cannot be a materialist—but Oh, how is it possible that a God who speaks to all hearts can let Belgravia go laughing to a vicious luxury, and Whitechapel cursing to a filthy debauchery—such suffering, such dreadful suffering—and shall the short years of Christ’s mission atone for it all?”
—D.H. (David Herbert)
“I am succeeding quite well in my work and the future looks well. What special mission is God preparing me for? Cutting off all earthly ties and isolating me as it were.”
—Ellen Henrietta Swallow Richards (1842–1911)