r/title-12-BANKS-AND-BANKING wiki — defined terms

“affiliate” applies in that section

The term “affiliate” has the meaning given to such term in section 1841(k) of this title . (7) Company

“appropriate Federal banking agency” applies throughout its chapter

The term “appropriate Federal banking agency” means— (1) the Office of the Comptroller of the Currency, in the case of— (A) any national banking association; (B) any Federal branch or agency of a foreign bank; and (C) any Federal savings association; (2) the Federal Deposit Insurance Corporation, in the case of— (A) any State nonmember insured bank; (B) any foreign bank having an insured branch; and (C) any State savings association; 1 (3) the Board of Governors of the Federal Reserve System, in the case of— (A) any State member bank; (B) any branch or agency of a foreign bank with respect to any provision of the Federal Reserve Act [ 12 U.S.C.

“bank” applies throughout its chapter

The term “bank”— (A) means any national bank and State bank, and any Federal branch and insured branch; (B) includes any former savings association. (2) State bank

“bank holding company” applies in that section

The term “bank holding company” has the meaning given to such term in section 1841 of this title . (3) Savings and loan holding company

“Board of Directors” applies in that section

The term “Board of Directors” means the Board of Directors of the Corporation. (l) Deposit

“bridge depository institution” applies in that section

The term “bridge depository institution” means a new national bank or Federal savings association organized by the Corporation in accordance with section 1821(n) of this title . (j) Receiver

“company” applies in that section

The term “company” has the same meaning as in section 1841(b) of this title . (x) Definitions relating to default (1) Default

“control” applies in that section

The term “control” has the meaning given to such term in section 1841 of this title . (6) Affiliate

“default” applies in that section

The term “default” means, with respect to an insured depository institution, any adjudication or other official determination by any court of competent jurisdiction, the appropriate Federal banking agency, or other public authority pursuant to which a conservator, receiver, or other legal custodian is appointed for an insured depository institution or, in the case of a foreign bank having an insured branch, for such branch. (2) In danger of default

“deposit” applies in that section

The term “deposit” means— (1) the unpaid balance of money or its equivalent received or held by a bank or savings association in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a commercial, checking, savings, time, or thrift account, or which is evidenced by its certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar name, or a check or draft drawn against a deposit account and certified by the bank or savings association, or a letter of credit or a traveler’s check on which the bank or savings association is primarily liable: Provided , That, …

“Deposit Insurance Fund” applies in that section

The term “Deposit Insurance Fund” means the Deposit Insurance Fund established under section 1821(a)(4) of this title . (2) Designated reserve ratio

“depository institution” applies in that section

The term “depository institution” means any bank or savings association. (2) Insured depository institution

“depository institution holding company” applies in that section

The term “depository institution holding company” means a bank holding company or a savings and loan holding company. (2) Bank holding company

“designated reserve ratio” applies in that section

The term “designated reserve ratio” means the reserve ratio designated by the Board of Directors in accordance with section 1817(b)(3) of this title . (3) Reserve ratio The term “reserve ratio”, when used with regard to the Deposit Insurance Fund other than in connection with a reference to the designated reserve ratio, means the ratio of the net worth of the Deposit Insurance Fund to the value of the aggregate estimated insured deposits, or such comparable percentage of the assessment base set forth in section 1817(b)(2)(C) 2 of this title. (z) Federal banking agency

“domestic branch” applies throughout its chapter

The term “domestic branch” includes any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State of the United States or in any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands at which deposits are received or checks paid or money lent. The term “domestic branch” does not include an automated teller machine or a remote service unit.

“Federal banking agency” applies in that section

The term “Federal banking agency” means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation.

“Federal branch” applies in that section

The term “Federal branch” has the meaning given to such term by section 1(b)(6) of the International Banking Act of 1978 [ 12 U.S.C. 3101(b)(6) ]. (3) Insured branch

“Federal depository institution” applies in that section

The term “Federal depository institution” means any national bank, any Federal savings association, and any Federal branch. (5) State depository institution

“Federal savings association” applies in that section

The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under section 1464 of this title . (3) State savings association

“foreign bank” applies in that section

The term “foreign bank” has the meaning given to such term by section 1(b)(7) of the International Banking Act of 1978 [ 12 U.S.C. 3101(b)(7) ]. (2) Federal branch

“foreign branch” applies throughout its chapter

The term “foreign branch” means any office or place of business located outside the United States, its territories, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands, at which banking operations are conducted. (p) Trust funds

“in danger of default” applies in that section

The term “in danger of default” means an insured depository institution with respect to which (or in the case of a foreign bank having an insured branch, with respect to such insured branch) the appropriate Federal banking agency or State chartering authority has advised the Corporation (or, if the appropriate Federal banking agency is the Corporation, the Corporation has determined) that— (A) in the opinion of such agency or authority— (i) the depository institution or insured branch is not likely to be able to meet the demands of the institution’s or branch’s depositors or pay the institution’s or branch’s obligations in the normal course of business; and (ii) there is no reasonable …

“institution-affiliated party” applies in that section

The term “institution-affiliated party” means— (1) any director, officer, employee, or controlling stockholder (other than a bank holding company or savings and loan holding company) of, or agent for, an insured depository institution; (2) any other person who has filed or is required to file a change-in-control notice with the appropriate Federal banking agency under section 1817(j) of this title ; (3) any shareholder (other than a bank holding company or savings and loan holding company), consultant, joint venture partner, and any other person as determined by the appropriate Federal banking agency (by regulation or case-by-case) who participates in the conduct of the affairs of an …

“insured bank” applies in that section

The term “insured bank” means any bank (including a foreign bank having an insured branch) the deposits of which are insured in accordance with the provisions of this chapter; and

“insured branch” applies in that section

The term “insured branch” means any branch (as defined in section 1(b)(3) of the International Banking Act of 1978 [ 12 U.S.C. 3101(b)(3) ]) of a foreign bank any deposits in which are insured pursuant to this chapter. (t) Includes, including (1) In general The terms “includes” and “including” shall not be construed more restrictively than the ordinary usage of such terms so as to exclude any other thing not referred to or described. (2) Rule of construction Paragraph (1) shall not be construed as creating any inference that the term “includes” or “including” in any other provision of Federal law may be deemed to exclude any other thing not referred to or described.

“insured deposit” applies throughout its chapter

the term “insured deposit” means the net amount due to any depositor for deposits in an insured depository institution as determined under sections 1817(i) and 1821(a) of this title. (2) In the case of any deposit in a branch of a foreign bank,

“insured depository institution” applies in that section

The term “insured depository institution” means any bank or savings association the deposits of which are insured by the Corporation pursuant to this chapter. (3) Institutions included for certain purposes

“mutual savings bank” applies in that section

The term “mutual savings bank” means a bank without capital stock transacting a savings bank business, the net earnings of which inure wholly to the benefit of its depositors after payment of obligations for any advances by its organizers. (g) Savings bank

“national member bank” applies in that section

The term “national member bank” means any national bank which is a member of the Federal Reserve System. (2) State member bank

“national nonmember bank” applies in that section

The term “national nonmember bank” means any national bank which— (A) is located in any territory of the United States, Puerto Rico, Guam, American Samoa, the Virgin Islands, or the Northern Mariana Islands; and (B) is not a member of the Federal Reserve System. (2) State nonmember bank

“new depository institution” applies in that section

The term “new depository institution” means a new national bank or Federal savings association, other than a bridge depository institution, organized by the Corporation in accordance with section 1821(m) of this title . (2) Bridge depository institution

“noninsured bank” applies in that section

the term “noninsured bank” means any bank the deposits of which are not so insured. (i) New depository institution and bridge depository institution defined (1) New depository institution

“preferred deposits” applies throughout its chapter

The term “preferred deposits” means deposits of any public unit (as defined in paragraph (1)) at any insured depository institution which are secured or collateralized as required under State law. (n) Transferred deposit

“receiver” applies in that section

The term “receiver” includes a receiver, liquidating agent, conservator, commission, person, or other agency charged by law with the duty of winding up the affairs of a bank or savings association or of a branch of a foreign bank. (k) Board of Directors

“savings and loan holding company” applies in that section

The term “savings and loan holding company” has the meaning given to such term in section 1467a of this title . (4) Subsidiary

“savings association” applies in that section

The term “savings association” means— (A) any Federal savings association; (B) any State savings association; and (C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association. (2) Federal savings association

“savings bank” applies in that section

The term “savings bank” means a bank (including a mutual savings bank) which transacts its ordinary banking business strictly as a savings bank under State laws imposing special requirements on such banks governing the manner of investing their funds and of conducting their business. (h) Insured bank

“State” applies in that section

The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. (b) Definition of savings associations and related terms (1) Savings association

“State bank” applies throughout its chapter

The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which— (A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and (B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia, including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989 . (3) State

“State bank supervisor” applies in that section

The term “State bank supervisor” means any officer, agency, or other entity of any State which has primary regulatory authority over State banks or State savings associations in such State. (2) Interstate application The State bank supervisors of more than 1 State may be the appropriate State bank supervisor for any insured depository institution. (s) Definitions relating to foreign banks and branches (1) Foreign bank

“State depository institution” applies in that section

The term “State depository institution” means any State bank, any State savings association, and any insured branch which is not a Federal branch. (d) Definitions relating to member banks (1) National member bank

“State member bank” applies in that section

The term “State member bank” means any State bank which is a member of the Federal Reserve System. (e) Definitions relating to nonmember banks (1) National nonmember bank

“State nonmember bank” applies in that section

The term “State nonmember bank” means any State bank which is not a member of the Federal Reserve System. (f) Mutual savings bank

“State savings association” applies in that section

The term “State savings association” means— (A) any building and loan association, savings and loan association, or homestead association; or (B) any cooperative bank (other than a cooperative bank which is a State bank as defined in subsection (a)(2)), which is organized and operating according to the laws of the State (as defined in subsection (a)(3)) in which it is chartered or organized. (c) Definitions relating to depository institutions (1) Depository institution

“subsidiary” applies in that section

The term “subsidiary”— (A) means any company which is owned or controlled directly or indirectly by another company; and (B) includes any service corporation owned in whole or in part by an insured depository institution or any subsidiary of such a service corporation. (5) Control

“transferred deposit” applies throughout its chapter

The term “transferred deposit” means a deposit in a new bank or other insured depository institution made available to a depositor by the Corporation as payment of the insured deposit of such depositor in a closed bank, and assumed by such new bank or other insured depository institution. (o) Domestic branch

“trust funds” applies throughout its chapter

The term “trust funds” means funds held by an insured depository institution in a fiduciary capacity and includes, without being limited to, funds held as trustee, executor, administrator, guardian, or agent. (q) Appropriate Federal banking agency

“uninsured deposit” applies throughout its chapter

The term “uninsured deposit” means the amount of any deposit of any depositor at any insured depository institution in excess of the amount of the insured deposits of such depositor (if any) at such depository institution. (4) Preferred deposits .—

“violation” applies in that section

The term “violation” includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation. (w) Definitions relating to affiliates of depository institutions (1) Depository institution holding company

“affiliate” applies in that section

The terms “foreign bank” and “affiliate” have the same meanings as in section 3101 of this title . (ii) Credit outstanding .—

“Bank Insurance Fund member” applies in that section

The term “Bank Insurance Fund member” means any depository institution the deposits of which are insured by the Bank Insurance Fund. (5) Savings Association Insurance Fund member

“Bank Insurance Fund reserve ratio” applies in that section

The term “Bank Insurance Fund reserve ratio” means the ratio of the net worth of the Bank Insurance Fund to the value of the aggregate estimated insured deposits held in all Bank Insurance Fund members. (7) Savings Association Insurance Fund reserve ratio

“covered depository institution” applies in that section

the term “covered depository institution” means an insured depository institution that— (i) has less than $5,000,000,000 in total consolidated assets; and (ii) satisfies such other criteria as the appropriate Federal banking agencies determine appropriate. (b) Assessments (1) Risk-based assessment system (A) Risk-based assessment system required The Board of Directors shall, by regulation, establish a risk-based assessment system for insured depository institutions.

“credit outstanding” applies in that section

The term “credit outstanding” includes— (I) any loan or extension of credit, (II) the issuance of a guarantee, acceptance, or letter of credit, including an endorsement or standby letter of credit, and (III) any other type of transaction that extends credit or financing to the person or group of persons. (iii) Group of persons .—

“eligible insured depository institution” applies in that section

the term “eligible insured depository institution” means any insured depository institution that— (i) was in existence on December 31, 1996 , and paid a deposit insurance assessment prior to that date; or (ii) is a successor to any insured depository institution described in clause (i).

“foreign bank” applies in that section

The terms “foreign bank” and “affiliate” have the same meanings as in section 3101 of this title . (ii) Credit outstanding .—

“group of persons” applies in that section

The term “group of persons” includes any number of persons that the foreign bank or any affiliate thereof reasonably believes— (I) are acting together, in concert, or with one another to acquire or control shares of the same insured depository institution, including an acquisition of shares of the same insured depository institution at approximately the same time under substantially the same terms; or (II) have made, or propose to make, a joint filing under section 78m of title 15 regarding ownership of the shares of the same insured depository institution.

“insured depository institution” applies in that section

the term “insured depository institution” includes— (A) any depository institution holding company; and (B) any other company which controls an insured depository institution and is not a depository institution holding company.

“risk-based assessment system” applies in that section

the term “risk-based assessment system” means a system for calculating a depository institution’s assessment based on— (i) the probability that the Deposit Insurance Fund will incur a loss with respect to the institution, taking into consideration the risks attributable to— (I) different categories and concentrations of assets; (II) different categories and concentrations of liabilities, both insured and uninsured, contingent and noncontingent; and (III) any other factors the Corporation determines are relevant to assessing such probability; (ii) the likely amount of any such loss; and (iii) the revenue needs of the Deposit Insurance Fund.

“Savings Association Insurance Fund member” applies in that section

The term “Savings Association Insurance Fund member” means any depository institution the deposits of which are insured by the Savings Association Insurance Fund. (6) Bank Insurance Fund reserve ratio

“Savings Association Insurance Fund reserve ratio” applies in that section

The term “Savings Association Insurance Fund reserve ratio” means the ratio of the net worth of the Savings Association Insurance Fund to the value of the aggregate estimated insured deposits held in all Savings Association Insurance Fund members.

“statutorily prescribed amount” applies in that section

the term “statutorily prescribed amount” means, with respect to any calendar year which ends after August 9, 1989 — (A) $823,705,000, minus (B) the sum of— (i) the aggregate amount of offsets made before August 9, 1989 , by all insured institutions under section 404(e)(2) 1 of the National Housing Act [ 12 U.S.C. 1727(e)(2) ] (as in effect before August 9, 1989 ); and (ii) the aggregate amount of offsets made by all savings associations under this subsection before the beginning of such calendar year.

“appropriate Federal financial institutions regulatory agency” applies in that section

the term “appropriate Federal financial institutions regulatory agency” means— (i) the appropriate Federal banking agency, in the case of an insured depository institution; (ii) the Farm Credit Administration, in the case of an institution chartered under the Farm Credit Act of 1971 [ 12 U.S.C. 2001 et seq.]; (iii) the National Credit Union Administration Board, in the case of an insured credit union (as defined in section 101(7) of the Federal Credit Union Act [ 12 U.S.C. 1752(7) ]); and (iv) the Secretary of the Treasury, in the case of the Federal Housing Finance Agency and any Federal home loan bank.

“relevant depository institution” applies in that section

the term “relevant depository institution” means any depository institution of which the party is or was an institution-affiliated party at the time at which— (i) the information, indictment, or complaint described in subparagraph (A) was issued; or (ii) the notice is issued under subparagraph (A) or the order is issued under subparagraph (C)(i).

“senior executive officer” applies in that section

The term “senior executive officer” has the same meaning as in regulations prescribed under section 1831i(f) of this title .

“cooperative agreement” applies in that section

the term “cooperative agreement” means a written agreement that is signed by the home State bank supervisor and the host State bank supervisor to facilitate State regulatory supervision of State banks, and includes nationwide or multi-State cooperative agreements and cooperative agreements solely between the home State and host State.

“depository institution” applies in that section

the term “depository institution” includes an uninsured branch or agency of a foreign bank, if such branch or agency is located in any State; and;

“depository institution holding company” applies in that section

the term “depository institution holding company” includes any foreign bank or company described in section 3106(a) of this title . (3) Rules of construction For purposes of this subsection, a foreign bank shall be deemed to control any branch or agency of the foreign bank, and a person shall be deemed to act as a consultant for a depository institution, depository institution holding company, or other company, only if such person directly works on matters for, or on behalf of, such depository institution, depository institution holding company, or other company.

“final determination” applies in that section

the term “final determination” means the transmittal of a report of examination to the bank or transmittal of official notice of proceedings to the bank. (i) Flood insurance compliance by insured depository institutions (1) Examinations The appropriate Federal banking agency shall, during each scheduled on-site examination required by this section, determine whether the insured depository institution is complying with the requirements of the national flood insurance program.

“home State” applies in that section

The terms “host State”, “home State”, and “out-of-State bank” have the same meanings as in section 1831u(g) of this title . (B) State supervisory fees

“host State” applies in that section

The terms “host State”, “home State”, and “out-of-State bank” have the same meanings as in section 1831u(g) of this title . (B) State supervisory fees

“out-of-State bank” applies in that section

The terms “host State”, “home State”, and “out-of-State bank” have the same meanings as in section 1831u(g) of this title . (B) State supervisory fees

“State supervisory fees” applies in that section

The term “State supervisory fees” means assessments, examination fees, branch fees, license fees, and all other fees that are levied or charged by a State bank supervisor directly upon an insured State bank or upon branches of an insured State bank.

“bank holding company” applies in that section

The term “bank holding company” has the meaning given the term in section 1841 of this title . (2) Commission

“Commission” applies in that section

The term “Commission” means the Securities and Exchange Commission. (3) Corporation

“Corporation” applies in that section

The term “Corporation” means the Federal Deposit Insurance Corporation. (4) Federal banking agency

“Federal banking agency” applies in that section

The term “Federal banking agency” has the meaning given the term in section 1813(z) of this title . (5) Insured depository institution

“insured depository institution” applies in that section

The term “insured depository institution” has the meaning given the term in section 1813(c) of this title . (6) Registered investment company

“registered investment company” applies in that section

The term “registered investment company” means an investment company that is registered with the Commission under the Investment Company Act of 1940 [ 15 U.S.C. 80a–1 et seq.]. (7) Savings and loan holding company

“savings and loan holding company” applies in that section

The term “savings and loan holding company” has the meaning given the term in section 1467a(a)(1)(D) of this title .

“adequately capitalized” applies throughout its chapter

The terms “well capitalized” and “adequately capitalized” have the same meanings as in section 1831 o of this title. (II) Employee benefit plan

“benefit-responsive withdrawals or transfers” applies throughout its chapter

The term “benefit-responsive withdrawals or transfers” means any withdrawal or transfer of funds (consisting of any portion of the principal and any interest credited at a rate guaranteed by the insured depository institution investment contract) during the period in which any guaranteed rate is in effect, without substantial penalty or adjustment, to pay benefits provided by the employee benefit plan or to permit a plan participant or beneficiary to redirect the investment of his or her account balance. (ii) Employee benefit plan

“business day” applies in that section

the term “business day” means any day other than any Saturday, Sunday, or any day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed. (11) Disaffirmance or repudiation of qualified financial contracts In exercising the rights of disaffirmance or repudiation of a conservator or receiver with respect to any qualified financial contract to which an insured depository institution is a party, the conservator or receiver for such institution shall either— (A) disaffirm or repudiate all qualified financial contracts between— (i) any person or any affiliate of such person; and (ii) the depository institution in default; or (B) disaffirm or repudiate none …

“clearing organization” applies in that section

the term “clearing organization” has the same meaning as in section 4402 of this title . (10) Notification of transfer (A) In general If— (i) the conservator or receiver for an insured depository institution in default makes any transfer of the assets and liabilities of such institution; and (ii) the transfer includes any qualified financial contract, the conservator or receiver shall notify any person who is a party to any such contract of such transfer by 5:00 p.m. (eastern time) on the business day following the date of the appointment of the receiver in the case of a receivership, or the business day following such transfer in the case of a conservatorship.

“commodity contract” applies in that section

The term “commodity contract” means— (I) with respect to a futures commission merchant, a contract for the purchase or sale of a commodity for future delivery on, or subject to the rules of, a contract market or board of trade; (II) with respect to a foreign futures commission merchant, a foreign future; (III) with respect to a leverage transaction merchant, a leverage transaction; (IV) with respect to a clearing organization, a contract for the purchase or sale of a commodity for future delivery on, or subject to the rules of, a contract market or board of trade that is cleared by such clearing organization, or commodity option traded on, or subject to the rules of, a contract market or …

“covered agency” applies in that section

The term “covered agency” means any of the following: (i) Any Federal banking agency. (ii) The Farm Credit Administration. (iii) The Farm Credit System Insurance Corporation. (iv) The National Credit Union Administration. (v) The Government Accountability Office. (vi) The Bureau of Consumer Financial Protection. (vii) Federal 10 Housing Finance Agency. (B) Privilege

“default” applies in that section

the term “default” means a failure to comply with the terms of a loan or other obligation to such an extent that the property securing the obligation is foreclosed upon. (q) Expedited procedures for certain claims (1) Time for filing notice of appeal The notice of appeal of any order, whether interlocutory or final, entered in any case brought by the Corporation against an insured depository institution’s director, officer, employee, agent, attorney, accountant, or appraiser or any other person employed by or providing services to an insured depository institution shall be filed not later than 30 days after the date of entry of the order.

“eligible commercial real property” applies in that section

The term “eligible commercial real property” means any property (i) to which the Corporation acquires title, and (ii) that the Corporation, in the discretion of the Corporation, determines is suitable for use for the location of offices or other administrative functions involved with carrying out a program referred to in paragraph (1)(B). (B) Nonprofit organization and public agency

“employee benefit plan” applies throughout its chapter

The term “employee benefit plan” has the same meaning as in paragraph (5)(B)(ii), and includes any eligible deferred compensation plan described in section 457 of title 26 . (III) Pass-through deposit insurance

“financial institution” applies in that section

the term “financial institution” means a broker or dealer, a depository institution, a futures commission merchant, or any other institution, as determined by the Corporation by regulation to be a financial institution, and

“forward contract” applies in that section

The term “forward contract” means— (I) a contract (other than a commodity contract) for the purchase, sale, or transfer of a commodity or any similar good, article, service, right, or interest which is presently or in the future becomes the subject of dealing in the forward contract trade, or product or byproduct thereof, with a maturity date more than 2 days after the date the contract is entered into, including, 5 a repurchase or reverse repurchase transaction (whether or not such repurchase or reverse repurchase transaction is a “repurchase agreement”, as defined in clause (v)), consignment, lease, swap, hedge transaction, deposit, loan, option, allocated transaction, unallocated …

“government depositor” applies in that section

the term “government depositor” means a depositor that is— (i) an officer, employee, or agent of the United States having official custody of public funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution; (ii) an officer, employee, or agent of any State of the United States, or of any county, municipality, or political subdivision thereof having official custody of public funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution in such State; (iii) an officer, employee, or agent of the District of Columbia having official custody of public funds and lawfully investing …

“nonprofit organization” applies in that section

The terms “nonprofit organization” and “public agency” have the same meanings as in section 1831q(p) of this title .

“pass-through deposit insurance” applies throughout its chapter

The term “pass-through deposit insurance” means, with respect to an employee benefit plan, deposit insurance coverage based on the interest of each participant, in accordance with regulations issued by the Corporation. (E) Standard maximum deposit insurance amount defined For purposes of this chapter,

“person” applies in that section

The term “person” includes any governmental entity in addition to any entity included in the definition of such term in section 1 of title 1 . (E) Certain protections in event of appointment of conservator Notwithstanding any other provision of this chapter (other than subsections (d)(9) and (e)(10) of this section, and section 1823(e) of this title ), any other Federal law, or the law of any State, no person shall be stayed or prohibited from exercising— (i) any right such person has to cause the termination, liquidation, or acceleration of any qualified financial contract with a depository institution in a conservatorship based upon a default under such financial contract which is …

“privilege” applies in that section

The term “privilege” includes any work-product, attorney-client, or other privilege recognized under Federal or State law. (3) Rule of construction Paragraph (1) shall not be construed as implying that any person waives any privilege applicable to any information because paragraph (1) does not apply to the transfer or use of that information.

“public agency” applies in that section

The terms “nonprofit organization” and “public agency” have the same meanings as in section 1831q(p) of this title .

“qualified financial contract” applies in that section

The term “qualified financial contract” means any securities contract, commodity contract, forward contract, repurchase agreement, swap agreement, and any similar agreement that the Corporation determines by regulation, resolution, or order to be a qualified financial contract for purposes of this paragraph. (ii) Securities contract

“qualified foreign government security” applies in that section

the term “qualified foreign government security” means a security that is a direct obligation of, or that is fully guaranteed by, the central government of a member of the Organization for Economic Cooperation and Development (as determined by regulation or order adopted by the appropriate Federal banking authority). (vi) Swap agreement

“securities contract” applies in that section

The term “securities contract”— (I) means a contract for the purchase, sale, or loan of a security, a certificate of deposit, a mortgage loan, any interest in a mortgage loan, a group or index of securities, certificates of deposit, or mortgage loans or interests therein (including any interest therein or based on the value thereof) or any option on any of the foregoing, including any option to purchase or sell any such security, certificate of deposit, mortgage loan, interest, group or index, or option, and including any repurchase or reverse repurchase transaction on any such security, certificate of deposit, mortgage loan, interest, group or index, or option (whether or not such …

“standard maximum deposit insurance amount” applies throughout its chapter

the term “standard maximum deposit insurance amount” means $250,000, adjusted as provided under subparagraph (F) after March 31, 2010 . Notwithstanding any other provision of law, the increase in the standard maximum deposit insurance amount to $250,000 shall apply to depositors in any institution for which the Corporation was appointed as receiver or conservator on or after January 1, 2008 , and before October 3, 2008 . The Corporation shall take such actions as are necessary to carry out the requirements of this section with respect to such depositors, without regard to any time limitations under this chapter.

“swap agreement” applies in that section

The term “swap agreement” means— (I) any agreement, including the terms and conditions incorporated by reference in any such agreement, which is an interest rate swap, option, future, or forward agreement, including a rate floor, rate cap, rate collar, cross-currency rate swap, and basis swap; a spot, same day-tomorrow, tomorrow-next, forward, or other foreign exchange, precious metals, or other commodity agreement; a currency swap, option, future, or forward agreement; an equity index or equity swap, option, future, or forward agreement; a debt index or debt swap, option, future, or forward agreement; a total return, credit spread or credit swap, option, future, or forward agreement; a …

“transfer” applies in that section

The term “transfer” means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with property or with an interest in property, including retention of title as a security interest and foreclosure of the depository institution’s equity of redemption. (ix) Person

“walkaway clause” applies in that section

the term “walkaway clause” means any provision in a qualified financial contract that suspends, conditions, or extinguishes a payment obligation of a party, in whole or in part, or does not create a payment obligation of a party that would otherwise exist, solely because of such party’s status as a nondefaulting party in connection with the insolvency of an insured depository institution that is a party to the contract or the appointment of or the exercise of rights or powers by a conservator or receiver of such depository institution, and not as a result of a party’s exercise of any right to offset, setoff, or net obligations that exist under the contract, any other contract between those …

“well capitalized” applies throughout its chapter

The terms “well capitalized” and “adequately capitalized” have the same meanings as in section 1831 o of this title. (II) Employee benefit plan

“appropriate State” applies in that section

the term “appropriate State” means the State to which notice was mailed under paragraph (1)(C), except that if the notice was not mailed to an address that is within a State it shall mean the State in which the depository institution in default has its main office; and;

“transferee institution” applies in that section

the term “transferee institution” means the insured depository institution in which the Corporation has made available a transferred deposit pursuant to section 1821(f)(1) of this title ;

“United States deposit” applies in that section

the term “United States deposit” means an insured or transferred deposit for which the deposit records of the depository institution in default disclose that title to the deposit is held by the United States, any department, agency, or instrumentality of the Federal Government, or any officer or employee thereof in such person’s official capacity. (f) Conflict of interest (1) Applicability of other provisions (A) Clarification of status of Corporation The Corporation is, and has been since its creation, an agency for purposes of title 18.

“acquire” applies in that section

the term “acquire” means to acquire, directly or indirectly, ownership or control through— (i) an acquisition of shares; (ii) an acquisition of assets or assumption of liabilities; (iii) a merger or consolidation; or (iv) any similar transaction;

“affiliated insured bank” applies in that section

the term “affiliated insured bank” means— (i) when used in connection with a reference to a holding company, an insured bank which is a subsidiary of such holding company; and (ii) when used in connection with a reference to 2 or more insured banks, insured banks which are subsidiaries of the same holding company; and;

“agricultural bank” applies in that section

the term “agricultural bank” means a bank— (i) the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) which is located in an area the economy of which is dependent on agriculture; (iii) which has assets of $100,000,000 or less; and (iv) which has— (I) at least 25 percent of its total loans in qualified agricultural loans; or (II) fewer than 25 percent of its total loans in qualified agricultural loans but which the appropriate Federal banking agency or State bank commissioner recommends to the Corporation for eligibility under this section, or which the Corporation, on its motion, deems eligible; and;

“economically depressed region” applies in that section

the term “economically depressed region” means any geographical region which the Corporation determines by regulation to be a region within which real estate values have suffered serious decline due to severe economic conditions, such as a decline in energy or agricultural values or prices.

“in-State depository institution or in-State holding company” applies in that section

the term “in-State depository institution or in-State holding company” means an existing insured depository institution currently operating in the State in which the bank in default or the bank in danger of default is chartered or a company that is operating an insured depository institution subsidiary in the State in which the bank in default or the bank in danger of default is chartered;

“minority” applies in that section

The term “minority” means any Black American, Native American, Hispanic American, or Asian American. (g) Payment of interest on stock subscriptions Prior to July 1, 1951 , the Corporation shall pay out of its capital account to the Secretary of the Treasury an amount equal to 2 per centum simple interest per annum on amounts advanced to the Corporation on stock subscriptions by the Secretary of the Treasury and the Federal Reserve banks, from the time of such advances until the amounts thereof were repaid. The amount payable hereunder shall be paid in two equal installments, the first installment to be paid prior to December 31, 1950 .

“minority bank” applies in that section

The term “minority bank” means any depository institution described in clause (i), (ii), or (iii) of section 461(b)(1)(A) of this title — (I) more than 50 percent of the ownership or control of which is held by one or more minority individuals; and (II) more than 50 percent of the net profit or loss of which accrues to minority individuals. (ii) Minority .—

“privilege” applies in that section

the term “privilege” includes any work-product, attorney-client, or other privilege recognized under Federal or State law. (C) Report extension .— A Federal banking agency may extend a deadline described under subparagraph (A) for an additional 60 days, if the Federal banking agency— (i) faces ongoing circumstances that require the Federal banking agency to prioritize activities to promote stability of the United States banking system; and (ii) notifies the Congress of such extension and the reasons for such extension.

“qualified agricultural loan” applies in that section

the term “qualified agricultural loan” means a loan made to finance the production of agricultural products or livestock in the United States, a loan secured by farmland or farm machinery, or such other category of loans as the appropriate Federal banking agency may deem eligible. (5) Maintenance of portfolio As a condition of eligibility under this subsection, the agricultural bank must agree to maintain in its loan portfolio a percentage of agricultural loans which is not lower than the percentage of such loans in its loan portfolio on January 1, 1986 .

“subsidiary” applies in that section

the term “subsidiary” has the meaning given to such term in section 1841(d) of this title . (9) No Assistance Authorized for Certain Subsidiaries of Holding Companies.— (A) In general .— The Corporation shall not provide any assistance to a subsidiary, other than a subsidiary that is an insured depository institution, of a holding company in connection with any acquisition under this subsection. (B) Intermediate holding company permitted .— This paragraph does not prohibit an intermediate holding company or an affiliate of an insured depository institution from being a conduit for assistance ultimately intended for an insured bank.

“obligation” applies in that section

the term “obligation” includes— (i) any guarantee issued by the Corporation, other than deposit guarantees; (ii) any amount borrowed pursuant to section 1824 of this title ; and (iii) any other obligation for which the Corporation has a direct or contingent liability to pay any amount. (B) Valuation of contingent liabilities The Corporation shall value any contingent liability at its expected cost to the Corporation.

“antitrust laws” applies in that section

the term “antitrust laws” means the Act of July 2, 1890 (the Sherman Antitrust Act), the Act of October 15, 1914 (the Clayton Act), and any other Acts in pari materia. (9) Each of the responsible agencies shall include in its annual report to the Congress a description of each merger transaction approved by it during the period covered by the report, along with— (A) the name and total resources of each bank or savings association involved; (B) whether a report was submitted by the Attorney General under paragraph (4), and, if so, a summary by the Attorney General of the substance of such report; and (C) a statement by the responsible agency of the basis for its approval.

“Association” applies in that section

the terms “Association” and “Holding Company” have the same meanings as in section 1087–3(i) of title 20 . (ii) Secretary

“claim” applies in that section

the term “claim”— (A) means a cause of action based on Federal or State law that— (i) provides for the avoidance of preferential or fraudulent transfers or conveyances; or (ii) provides similar remedies for preferential or fraudulent transfers or conveyances; and (B) does not include any claim based on actual intent to hinder, delay, or defraud pursuant to such a fraudulent transfer or conveyance law. (v) Loans by insured institutions on their own stock (1) General prohibition No insured depository institution may make any loan or discount on the security of the shares of its own capital stock.

“Commission” applies in that section

the term “Commission” means the Securities and Exchange Commission. (u) Limitation on claims (1) In general No person may bring a claim against any Federal banking agency (including in its capacity as conservator or receiver) for the return of assets of an affiliate or controlling shareholder of the insured depository institution transferred to, or for the benefit of, an insured depository institution by such affiliate or controlling shareholder of the insured depository institution, or a claim against such Federal banking agency for monetary damages or other legal or equitable relief in connection with such transfer, if at the time of the transfer— (A) the insured depository institution is …

“covered company” applies in that section

The term “covered company” means any depository institution holding company (including any company required to file a report under section 1843(f)(6) of this title ), or any other company that controls an insured depository institution.

“de novo branch” applies in that section

the term “de novo branch” means a branch of a State bank which— (i) is originally established by the State bank as a branch; and (ii) does not become a branch of such bank as a result of— (I) the acquisition by the bank of an insured depository institution or a branch of an insured depository institution; or (II) the conversion, merger, or consolidation of any such institution or branch. (D) “Home state” defined .—

“foreign bank” applies in that section

the term “foreign bank” has the same meaning as in section 3101(7) of this title . (k) Authority to regulate or prohibit certain forms of benefits to institution-affiliated parties (1) Golden parachutes and indemnification payments The Corporation may prohibit or limit, by regulation or order, any golden parachute payment or indemnification payment.

“golden parachute payment” applies in that section

The term “golden parachute payment” means any payment (or any agreement to make any payment) in the nature of compensation by any insured depository institution or covered company for the benefit of any institution-affiliated party pursuant to an obligation of such institution or covered company that— (i) is contingent on the termination of such party’s affiliation with the institution or covered company; and (ii) is received on or after the date on which— (I) the insured depository institution or covered company, or any insured depository institution subsidiary of such covered company, is insolvent; (II) any conservator or receiver is appointed for such institution; (III) the institution’s …

“Government-sponsored enterprise” applies in that section

the term “Government-sponsored enterprise” has the meaning given to such term in section 1404(e)(1)(A) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. (t) Recordkeeping requirements (1) Requirements Each appropriate Federal banking agency, after consultation with and consideration of the views of the Commission, shall establish recordkeeping requirements for banks relying on exceptions contained in paragraphs (4) and (5) of section 78c(a) of title 15 . Such recordkeeping requirements shall be sufficient to demonstrate compliance with the terms of such exceptions and be designed to facilitate compliance with such exceptions.

“Holding Company” applies in that section

the terms “Association” and “Holding Company” have the same meanings as in section 1087–3(i) of title 20 . (ii) Secretary

“home State” applies in that section

the term “home State” means— (I) with respect to a national bank, the State in which the main office of the bank is located; (II) with respect to a State bank or State savings association, the State by which the State bank or State savings association is chartered; and (III) with respect to a Federal savings association, the State in which the home office (as defined by the regulations of the Director of the Office of Thrift Supervision, or, on and after the transfer date, 1 the Comptroller of the Currency) of the Federal savings association is located.

“host State” applies in that section

The term “host State” means, with respect to a bank, a State, other than the home State of the bank, in which the bank maintains, or seeks to establish and maintain, a branch. (e) Indemnity insurance The Corporation may require any insured depository institution to provide protection and indemnity against burglary, defalcation, and other similar insurable losses. Whenever any insured depository institution refuses to comply with any such requirement the Corporation may contract for such protection and indemnity and add the cost thereof to the assessment otherwise payable by such bank.

“indemnification payment” applies in that section

the term “indemnification payment” means any payment (or any agreement to make any payment) by any insured depository institution or covered company for the benefit of any person who is or was an institution-affiliated party, to pay or reimburse such person for any liability or legal expense with regard to any administrative proceeding or civil action instituted by the appropriate Federal banking agency which results in a final order under which such person— (i) is assessed a civil money penalty; (ii) is removed or prohibited from participating in conduct of the affairs of the insured depository institution; or (iii) is required to take any affirmative action described in section 1818(b)(6) …

“insured depository institution” applies in that section

the term “insured depository institution” includes any uninsured branch or agency of a foreign bank. (x) Privileges not affected by disclosure to banking agency or supervisor (1) In general The submission by any person of any information to the Bureau of Consumer Financial Protection, any Federal banking agency, State bank supervisor, or foreign banking authority for any purpose in the course of any supervisory or regulatory process of such Bureau, agency, supervisor, or authority shall not be construed as waiving, destroying, or otherwise affecting any privilege such person may claim with respect to such information under Federal or State law as to any person or entity other than such …

“interstate merger transaction” applies in that section

the term “interstate merger transaction” means a merger transaction involving 2 or more insured depository institutions that have different home States and that are not affiliates; and;

“investment portfolio” applies in that section

The term “investment portfolio” shall mean all investments shown on the consolidated balance sheet of the Association other than— (I) any instrument or assets described in section 1087–2(d) of title 20 , as such section existed on the day before the date of the repeal of such section; (II) any direct noncallable obligations of the United States or any agency thereof for which the full faith and credit of the United States is pledged; or (III) cash or cash equivalents. (D) Enforcement The terms and conditions imposed under subparagraph (B) may be enforced by the Secretary in accordance with section 1087–3 of title 20 .

“liability or legal expense” applies in that section

The term “liability or legal expense” means— (i) any legal or other professional expense incurred in connection with any claim, proceeding, or action; (ii) the amount of, and any cost incurred in connection with, any settlement of any claim, proceeding, or action; and (iii) the amount of, and any cost incurred in connection with, any judgment or penalty imposed with respect to any claim, proceeding, or action. (C) Payment

“liquid and readily-marketable” applies in that section

the term “liquid and readily-marketable” has the meaning given the term in section 249.3 of title 12, Code of Federal Regulations, or any successor thereto; and;

“municipal obligation” applies in that section

the term “municipal obligation” means an obligation of— (i) a State or any political subdivision thereof; or (ii) any agency or instrumentality of a State or any political subdivision thereof. (2) Municipal obligations For purposes of the final rule entitled “Liquidity Coverage Ratio: Liquidity Risk Measurement Standards” (79 Fed. Reg. 61439 ( October 10, 2014 )), the final rule entitled “Liquidity Coverage Ratio: Treatment of U.S. Municipal Securities as High-Quality Liquid Assets” (81 Fed. Reg.

“payment” applies in that section

The term “payment” includes— (i) any direct or indirect transfer of any funds or any asset; and (ii) any segregation of any funds or assets for the purpose of making, or pursuant to an agreement to make, any payment after the date on which such funds or assets are segregated, without regard to whether the obligation to make such payment is contingent on— (I) the determination, after such date, of the liability for the payment of such amount; or (II) the liquidation, after such date, of the amount of such payment. (D) Covered company

“Secretary” applies in that section

The term “Secretary” means the Secretary of the Treasury. (5) “Government-sponsored enterprise” defined For purposes of this subsection,

“consent application” applies in that section

The term “consent application” means an application filed with Corporation 2 by an individual (or by an insured depository institution or depository institution holding company on behalf of an individual) seeking the written consent of the Corporation under subsection (a)(1). (2) Criminal offense involving dishonesty

“criminal offense involving dishonesty” applies in that section

The term “criminal offense involving dishonesty”— (A) means an offense under which an individual, directly or indirectly— (i) cheats or defrauds; or (ii) wrongfully takes property belonging to another in violation of a criminal statute; (B) includes an offense that Federal, State, or local law defines as dishonest, or for which dishonesty is an element of the offense; and (C) does not include— (i) a misdemeanor criminal offense committed more than one year before the date on which an individual files a consent application, excluding any period of incarceration; or (ii) an offense involving the possession of controlled substances. (3) Pretrial diversion or similar program

“pretrial diversion or similar program” applies in that section

The term “pretrial diversion or similar program” means a program characterized by a suspension or eventual dismissal or reversal of charges or criminal prosecution upon agreement by the accused to restitution, drug or alcohol rehabilitation, anger management, or community service.

“deal in” applies in that section

The term “deal in” includes making, taking, buying, selling, redeeming, or collecting.;

“lottery” applies in that section

The term “lottery” includes any arrangement, other than a savings promotion raffle, whereby three or more persons (the “participants”) advance money or credit to another in exchange for the possibility or expectation that one or more but not all of the participants (the “winners”) will receive by reason of their advances more than the amounts they have advanced, the identity of the winners being determined by any means which includes— (A) a random selection; (B) a game, race, or contest; or (C) any record or tabulation of the result of one or more events in which any participant has no interest except for its bearing upon the possibility that he may become a winner.;

“lottery ticket” applies in that section

The term “lottery ticket” includes any right, privilege, or possibility (and any ticket, receipt, record, or other evidence of any such right, privilege, or possibility), of becoming a winner in a lottery.;

“savings promotion raffle” applies in that section

The term “savings promotion raffle” means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 5481 of this title ).

“affiliate” applies in that section

The term “affiliate” has the meaning given the term in section 1841 of this title . (2) Driver’s license

“driver’s license” applies in that section

The term “driver’s license” means a license issued by a State to an individual that authorizes the individual to operate a motor vehicle on public streets, roads, or highways. (3) Federal bank secrecy laws

“Federal bank secrecy laws” applies in that section

The term “Federal bank secrecy laws” means— (A) section 1829b of this title ; (B) section 1953 of this title ; and (C) subchapter II of chapter 53 of title 31. (4) Financial institution