Banking Commission

Documents on this page are provided in pdf format.

The NYC Banking Commission has three members:

  1. the Mayor;
  2. the City Comptroller; and
  3. the Commissioner of Finance.

The Treasury Division of the Department of Finance provides administrative support to the Banking Commission.

The Banking Commission has three responsibilities:

  1. Approve banks as NYC Designated Banks, which are the only banks that can hold City deposits;
  2. Recommend to the City Council interest rates for the early and late payment of real estate taxes and water and sewer rents; and
  3. Administer the City’s Banking Development District (BDD) Program, which is a program of the New York State Department of Financial Services. The goal of  the BDD program is to encourage and assist banks in opening branches in traditionally underserved neighborhoods. For more information on the history of BDDs, contact NYS Department of Financial Services.

Upcoming Meetings and Hearings*

  • None at this time

Archived Meetings and Hearings

Additional Information

The Rules of the City of New York - Title 22: Banking Commission
Documentation Required for Designation as A Depository Bank

Designated Bank List as of 5/31/17
BDD Program Eligibility Criteria


*Meetings are frequently held at Department of Finance facilities. Accessible entrances and accessible restrooms are provided. To request other accommodations, please contact Disability Service Facilitator, Brittney Blakeney at (718) 488-2032 at least 72 hours in advance.