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New York issues emergency rule on ATM safety compliance reporting

The emergency rule precedes planned amendments that will require semiannual reporting of security compliance at institutions' ATM facilities.

October 13, 2014

New York State has issued an emergency rule defining semiannual requirements for reporting by ATM deployers of their machines' compliance with security standards. The emergency rule will remain in effect as a stopgap through Dec. 15, while the New York Department of Financial Services finalizes permanent amendments to the existing statute. 

According to the New York State Register, the reason for the new rule is as follows:

Changes reporting requirements in section 301.6 of the Superintendent’s Regulations to be consistent with changes in the ATM Safety Act (Article II-A of the Banking Law) made by Chapter 27 of the Laws of 2013.

The text of the emergency rule begins as follows:

The semi-annual report of compliance required to be filed pursuant to the provisions of section 75-g of the Banking Law shall be filed [within 75 days after the close of each calendar year covering the preceding calendar year] with the Department of Financial Services no later than the fifteenth day of January and July of each year or the following business day if that day is not a business day.

The full language of the rule is available online for download.