r/title-12-BANKS-AND-BANKING wiki — defined terms
The statute’s own glossary: every term Title 12 defines, in section order.
“financial institution” applies in that section
The term “financial institution” means— (A) an insured depository institution; (B) an insured credit union; or (C) any affiliate of an insured depository institution or insured credit union. (5) Financial product or service
“financial product or service” applies in that section
The term “financial product or service” has the meaning given the term in section 5481 of this title . (6) Insured credit union
“insured credit union” applies in that section
The term “insured credit union” has the meaning given the term in section 1752 of this title . (7) Insured depository institution
“insured depository institution” applies in that section
The term “insured depository institution” has the meaning given the term in section 1813 of this title . (8) Online service
“online service” applies in that section
The term “online service” means any Internet-based service, such as a website or mobile application. (9) Personal identification card
“personal identification card” applies in that section
The term “personal identification card” means an identification document issued by a State or local government to an individual solely for the purpose of identification of that individual. (10) Personal information
“personal information” applies in that section
The term “personal information” means the information displayed on or electronically encoded on a driver’s license or personal identification card that is reasonably necessary to fulfill the purpose and uses permitted by subsection (b). (11) Scan
“scan” applies in that section
The term “scan” means the act of using a device or software to decipher, in an electronically readable format, personal information displayed on or electronically encoded on a driver’s license or personal identification card. (12) State
“State” applies in that section
The term “State” means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any other commonwealth, possession, or territory of the United States. (b) Use of a driver’s license or personal identification card (1) In general When an individual initiates a request through an online service to open an account with a financial institution or obtain a financial product or service from a financial institution, the financial institution may record personal information from a scan of the driver’s license or personal identification card of the individual, or make a copy or receive an image of the driver’s license or personal identification card of the …
“activity” applies in that section
the term “activity” includes acquiring or retaining any investment. (i) Other authority not affected This section shall not be construed as limiting the authority of any appropriate Federal banking agency or any State supervisory authority to impose more stringent restrictions. (j) Activities of branches of out-of-State banks (1) Application of host State law The laws of a host State, including laws regarding community reinvestment, consumer protection, fair lending, and establishment of intrastate branches, shall apply to any branch in the host State of an out-of-State State bank to the same extent as such State laws apply to a branch in the host State of an out-of-State national bank.
“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(f) 1 of this title.
“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(f) 1 of this title.
“lower income” applies in that section
The term “lower income” means income that is less than or equal to the median income based on statistics from State or Federal sources. (4) Transition rule (A) In general The Corporation shall require any insured State bank to divest any equity investment the retention of which is not permissible under this subsection as quickly as can be prudently done, and in any event before the end of the 5-year period beginning on December 19, 1991 .
“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(f) 1 of this title.
“qualified housing project” applies in that section
The term “qualified housing project” means residential real estate that is intended to primarily benefit lower income people throughout the period of the investment. (ii) Lower income
“HVCRE ADC loan” applies in that section
the term “HVCRE ADC loan”— (1) means a credit facility secured by land or improved real property that, prior to being reclassified by the depository institution as a non-HVCRE ADC loan pursuant to subsection (d)— (A) primarily finances, has financed, or refinances the acquisition, development, or construction of real property; (B) has the purpose of providing financing to acquire, develop, or improve such real property into income-producing real property; and (C) is dependent upon future income or sales proceeds from, or refinancing of, such real property for the repayment of such credit facility; (2) does not include a credit facility financing— (A) the acquisition, development, or …
“Board” applies in that section
The term “Board” means the Board of Governors of the Federal Reserve System. (2) Functionally regulated subsidiary
“functionally regulated subsidiary” applies in that section
The term “functionally regulated subsidiary” has the same meaning as in section 1844(c)(5) 1 of this title. (3) Lead insured depository institution
“lead insured depository institution” applies in that section
The term “lead insured depository institution” has the same meaning as in section 1841( o )(8) 1 of this title. (b) Examination requirements Subject to subtitle B of the Consumer Financial Protection Act of 2010 [ 12 U.S.C.
“financial company” applies in that section
the term “financial company” has the meaning given the term in section 201(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5381(a) ). (b) Requirement The Corporation shall, by rule, adopt data standards for all collections of information with respect to information received by the Corporation from any depository institution or financial company under this chapter or under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5381 et seq.).
“activity” applies in that section
The term “activity” includes acquiring or retaining any investment. (2) Divestiture of certain assets Notwithstanding paragraph (1), subsections (a) and (b) shall not be construed to require a savings association to divest itself of any assets acquired before August 9, 1989 . (h) Other authority not affected This section may not be construed as limiting— (1) any other authority of the Corporation; or (2) any authority of the Comptroller of the Currency, of the Corporation, or of a State to impose more stringent restrictions.
“qualified affiliate” applies in that section
The term “qualified affiliate” means— (i) in the case of a stock savings association, an affiliate other than a subsidiary or an insured depository institution; and (ii) in the case of a mutual savings association, a subsidiary other than an insured depository institution, so long as all of the savings association’s investments in and extensions of credit to the subsidiary are deducted from the savings association’s capital.
“qualified note” applies in that section
The term “qualified note” means any note that— (A) is at all times fully secured by the corporate debt security that does not meet standards of credit-worthiness established by the Corporation transferred in exchange for the note, or by other collateral of at least equivalent value that is acceptable to the Comptroller of the Currency or the Corporation, as appropriate; (B) contains provisions acceptable to the Comptroller of the Currency or the Corporation, as appropriate, that would— (i) prevent any action to encumber or impair the value of the collateral referred to in subparagraph (A); and (ii) allow the sale of the corporate debt security that does not meet standards of …
“agent institution” applies in that section
the terms “agent institution”, “reciprocal deposits”, and “well capitalized” have the meanings given those terms in subsection (i); and;
“covered deposit” applies in that section
The term “covered deposit” means a deposit that— (i) is submitted for placement through a deposit placement network by an agent institution; and (ii) does not consist of funds that were obtained for the agent institution, directly or indirectly, by or through a deposit broker before submission for placement through a deposit placement network. (C) Deposit placement network
“covered insured depository institution” applies in that section
the term “covered insured depository institution” means an insured depository institution that— (i) under subsection (c) or (d), accepts funds obtained, directly or indirectly, by or through a deposit broker; or (ii) while acting as an agent institution under subsection (i), accepts reciprocal deposits while not well capitalized. (2) Prohibition A covered insured depository institution may not pay a rate of interest on funds or reciprocal deposits described in paragraph (1) that, at the time that the funds or reciprocal deposits are accepted, significantly exceeds the limit set forth in paragraph (3).
“custodial deposit” applies in that section
The term “custodial deposit” means a deposit that is not deposited at an insured depository institution in return for fees paid by the insured depository institution pursuant to an agreement with a third party and that would otherwise be considered to be obtained, directly or indirectly, by or through a deposit broker, if the deposit is deposited at 1 or more insured depository institutions, for the purpose of providing or maintaining deposit insurance for the benefit of a third party, by or through any of the following, each acting in a formal custodial or fiduciary capacity for the benefit of a third party: (i) An insured depository institution serving as agent, trustee, or custodian.
“deposit broker” applies in that section
The term “deposit broker” means— (A) any person engaged in the business of placing deposits, or facilitating the placement of deposits, of third parties with insured depository institutions or the business of placing deposits with insured depository institutions for the purpose of selling interests in those deposits to third parties; and (B) an agent or trustee who establishes a deposit account to facilitate a business arrangement with an insured depository institution to use the proceeds of the account to fund a prearranged loan.
“deposit placement network” applies in that section
The term “deposit placement network” means a network in which an insured depository institution participates, together with other insured depository institutions, for the processing and receipt of reciprocal deposits. (D) Network member bank
“eligible institution” applies in that section
The term “eligible institution” means an insured depository institution that accepts custodial deposits, if the insured depository institution has less than $10,000,000,000 in total assets as reported on the consolidated report of condition and income as reported quarterly to the appropriate Federal banking agency and— (i) (I) when most recently examined under section 10(d) was assigned a composite rating of 1, 2, or 3 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system); and (II) is well capitalized; or (ii) has obtained a waiver pursuant to subsection (c). (C) Plan
“employee” applies in that section
the term “employee” means any employee— (A) who is employed exclusively by the insured depository institution; (B) whose compensation is primarily in the form of a salary; (C) who does not share such employee’s compensation with a deposit broker; and (D) whose office space or place of business is used exclusively for the benefit of the insured depository institution which employs such individual.
“network member bank” applies in that section
The term “network member bank” means an insured depository institution that is a member of a deposit placement network. (E) Reciprocal deposits
“plan” applies in that section
The term “plan” has the meaning given the term in section 1002 of title 29 . (D) Plan administrator
“plan administrator” applies in that section
The term “plan administrator” has the meaning given the term “administrator” in section 1002 of title 29 . (E) Well capitalized
“reciprocal deposits” applies in that section
the terms “agent institution”, “reciprocal deposits”, and “well capitalized” have the meanings given those terms in subsection (i); and;
“well capitalized” applies in that section
the terms “agent institution”, “reciprocal deposits”, and “well capitalized” have the meanings given those terms in subsection (i); and;
“Federal banking agency” applies in that section
the term “Federal banking agency” means the Corporation, the Board of Governors of the Federal Reserve System, the Federal Housing Finance Agency and the Comptroller of the Currency. (f) Burdens of proof The legal burdens of proof that prevail under subchapter III of chapter 12 of title 5 shall govern adjudication of protected activities under this section.
“capital distribution” applies in that section
The term “capital distribution” means— (i) a distribution of cash or other property by any insured depository institution or company to its owners made on account of that ownership, but not including— (I) any dividend consisting only of shares of the institution or company or rights to purchase such shares; or (II) any amount paid on the deposits of a mutual or cooperative institution that the appropriate Federal banking agency determines is not a distribution for purposes of this section; (ii) a payment by an insured depository institution or company to repurchase, redeem, retire, or otherwise acquire any of its shares or other ownership interests, including any extension of credit to …
“capital restoration plan” applies in that section
The term “capital restoration plan” means a plan submitted under subsection (e)(2). (D) Company
“company” applies in that section
The term “company” has the same meaning as in section 1841 of this title . (E) Compensation
“compensation” applies in that section
The term “compensation” includes any payment of money or provision of any other thing of value in consideration of employment. (F) Relevant capital measure
“material loss” applies in that section
The term “material loss” means any estimated loss in excess of— (i) $200,000,000, if the loss occurs during the period beginning on January 1, 2010 , and ending on December 31, 2011 ; (ii) $150,000,000, if the loss occurs during the period beginning on January 1, 2012 , and ending on December 31, 2013 ; and (iii) $50,000,000, if the loss occurs on or after January 1, 2014 , provided that if the inspector general of a Federal banking agency certifies to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives that the number of projected failures of depository institutions that would require material loss …
“relevant capital measure” applies in that section
The term “relevant capital measure” means the measures described in subsection (c). (G) Required minimum level
“required minimum level” applies in that section
The term “required minimum level” means, with respect to each relevant capital measure, the minimum acceptable capital level specified by the appropriate Federal banking agency by regulation. (H) Senior executive officer
“senior executive officer” applies in that section
The term “senior executive officer” has the same meaning as the term “executive officer” in section 375b of this title . (I) Subordinated debt
“subordinated debt” applies in that section
The term “subordinated debt” means debt subordinated to the claims of general creditors. (c) Capital standards (1) Relevant capital measures (A) In general Except as provided in subparagraph (B)(ii), the capital standards prescribed by each appropriate Federal banking agency shall include— (i) a leverage limit; and (ii) a risk-based capital requirement.
“source of financial strength” applies in that section
the term “source of financial strength” means the ability of a company that directly or indirectly owns or controls an insured depository institution to provide financial assistance to such insured depository institution in the event of the financial distress of the insured depository institution.
“affordable housing discount” applies in that section
The term “affordable housing discount” means, with respect to any eligible residential or eligible condominium property transferred under this section by the Corporation, the difference (if any) between the realizable disposition value of the property and the actual sale price of the property under this section. (ii) Realizable disposition value
“clearinghouse” applies in that section
The term “clearinghouse” means— (A) the State housing finance agency for the State in which an eligible residential property or eligible condominium property is located; (B) the Office of Community Investment (or other comparable division) within the Federal Housing Finance Board; and (C) any national nonprofit organizations (including any nonprofit entity established by the corporation established under title IX of the Housing and Community Development Act of 1968 [ 42 U.S.C. 3931 et seq.]) that the Corporation determines has the capacity to act as a clearinghouse for information. (3) Corporation
“Corporation” applies in that section
The term “Corporation” means the Federal Deposit Insurance Corporation acting in its corporate capacity or its capacity as receiver. (4) Eligible condominium property
“eligible condominium property” applies in that section
The term “eligible condominium property” means a condominium unit, as such term is defined in section 3603 of title 15 — (A) to which such Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the amount provided in section 203(b)(2)(A) of the National Housing Act [ 12 U.S.C.
“eligible multifamily housing property” applies in that section
The term “eligible multifamily housing property” means a property consisting of more than 4 dwelling units— (A) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the applicable dollar amount specified in section 221(d)(3)(ii) of the National Housing Act [ 12 U.S.C.
“eligible residential property” applies in that section
The term “eligible residential property” includes eligible single family properties and eligible multifamily housing properties. (7) Eligible single family property
“eligible single family property” applies in that section
The term “eligible single family property” means a 1- to 4-family residence (including a manufactured home)— (A) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the amount provided in section 203(b)(2)(A) of the National Housing Act [ 12 U.S.C.
“ineligible condominium property” applies in that section
The term “ineligible condominium property” means any eligible condominium property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A). (B) Ineligible multifamily housing property
“ineligible multifamily housing property” applies in that section
The term “ineligible multifamily housing property” means any eligible multifamily housing property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A). (C) Ineligible single family property
“ineligible residential property” applies in that section
The term “ineligible residential property” includes ineligible single family properties, ineligible multifamily housing properties, and ineligible condominium properties.
“ineligible single family property” applies in that section
The term “ineligible single family property” means any eligible single family property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A). (D) Ineligible residential property
“low-income families” applies in that section
The term “low-income families” means families and individuals whose incomes do not exceed 80 percent of the median income of the area involved, as determined by the Secretary, with adjustment for family size. (9) Net realizable market value
“minority” applies in that section
the term “minority” has the meaning given such term in section 1204(c)(3) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. (2) Assistance by HUD The Secretary shall take such action as may be necessary to expedite the processing of applications for assistance under section 202 of the Housing Act of 1959 [ 12 U.S.C. 1701q ], the United States Housing Act of 1937 [ 42 U.S.C. 1437 et seq.], title IV of the McKinney-Vento Homeless Assistance Act [ 42 U.S.C. 11360 et seq.], and the National Housing Act [ 12 U.S.C. 1701 et seq.], to enable any organization or individual to purchase eligible residential property.
“minority-owned business” applies in that section
the terms “women-owned business” and “minority-owned business” have the meanings given such terms in section 1441a(r) 1 of this title, and
“net realizable market value” applies in that section
The term “net realizable market value” means a price below the market value that takes into account (A) any reductions in holding costs resulting from the expedited sale of a property, including foregone real estate taxes, insurance, maintenance costs, security costs, and loss of use of funds, and (B) the avoidance, if applicable, of fees paid to real estate brokers, auctioneers, or other individuals or organizations involved in the sale of property owned by the Corporation. (10) Nonprofit organization
“nonprofit organization” applies in that section
The term “nonprofit organization” means a private organization (including a limited equity cooperative)— (A) no part of the earnings of which inures to the benefit of any member, shareholder, founder, contributor, or individual; and (B) that is approved by the Corporation as to financial responsibility. (11) Public agency
“public agency” applies in that section
The term “public agency” means any Federal, State, local, or other governmental entity, and includes any public housing agency. (12) Qualifying household
“qualifying household” applies in that section
The term “qualifying household” means a household— (A) who intends to occupy eligible single family property as a principal residence; (B) who agrees to occupy the property as a principal residence for at least 12 months; (C) who certifies in writing that the household intends to occupy the property as a principal residence for at least 12 months; and (D) whose income does not exceed 115 percent of the median income for the area, as determined by the Secretary, with adjustment for family size. (13) Qualifying multifamily purchaser
“qualifying multifamily purchaser” applies in that section
The term “qualifying multifamily purchaser” means— (A) a public agency; (B) a nonprofit organization; or (C) a for-profit entity, which makes a commitment (for itself or any related entity) to comply with the low-income occupancy requirements under subsection (d)(7) for any eligible multifamily housing property for which an offer to purchase is made during or after the periods specified under subsection (d). (14) Secretary
“realizable disposition value” applies in that section
The term “realizable disposition value” means the estimated sale price that the Corporation reasonably would be able to obtain upon the sale of a property by the Corporation under the provisions of this chapter, not including this section, and any other applicable laws.
“Secretary” applies in that section
The term “Secretary” means the Secretary of Housing and Urban Development. (15) State housing finance agency
“State housing finance agency” applies in that section
The term “State housing finance agency” means the public agency, authority, corporation, or other instrumentality of a State that has the authority to provide residential mortgage loan financing throughout the State. (16) Very low-income families
“very low-income families” applies in that section
The term “very low-income families” means families and individuals whose incomes do not exceed 50 percent of the median income of the area involved, as determined by the Secretary, with adjustment for family size. (q) Notice to clearinghouses regarding ineligible properties (1) In general Within a reasonable period of time after acquiring title to an ineligible residential property, the Corporation shall, to the extent practicable, provide written notice to clearinghouses.
“women-owned business” applies in that section
the terms “women-owned business” and “minority-owned business” have the meanings given such terms in section 1441a(r) 1 of this title, and
“interstate bank” applies in that section
The term “interstate bank” means a bank which maintains branches in more than 1 State. (B) Low- or moderate-income area
“low- or moderate-income area” applies in that section
The term “low- or moderate-income area” means a census tract for which the median family income is— (i) less than 80 percent of the median family income for the metropolitan statistical area (as designated by the Director of the Office of Management and Budget) in which the census tract is located; or (ii) in the case of a census tract which is not located in a metropolitan statistical area, less than 80 percent of the median family income for the State in which the census tract is located, as determined without taking into account family income in metropolitan statistical areas in such State.
“Bureau” applies in that section
The term “Bureau” means the Bureau of Consumer Financial Protection. (f) Enforcement (1) Limited enforcement authority Compliance with the requirements of subsections (b), (c), and (e), and any regulation prescribed or order issued under such subsection, shall be enforced under the Consumer Financial Protection Act of 2010, by the Bureau, subject to subtitle B of the Consumer Financial Protection Act of 2010 [ 12 U.S.C. 5511 et seq.], and under the Federal Trade Commission Act ( 15 U.S.C. 41 et seq.) by the Federal Trade Commission.
“depository institution” applies in that section
The term “depository institution” includes— (A) any entity described in section 461(b)(1)(A)(iv) of this title ; and (B) any entity that, as determined by the Bureau— (i) is engaged in the business of receiving deposits; and (ii) could reasonably be mistaken for a depository institution by the entity’s current or prospective customers. (3) Lacking Federal deposit insurance A depository institution lacks Federal deposit insurance if the institution is not either— (A) an insured depository institution; or (B) an insured credit union, as defined in section 101 of the Federal Credit Union Act [ 12 U.S.C. 1752 ]. (4) Private deposit insurer
“private deposit insurer” applies in that section
The term “private deposit insurer” means any entity insuring the deposits of any depository institution lacking Federal deposit insurance. (5) Bureau
“adequately capitalized” applies in that section
The term “adequately capitalized” has the same meaning as in section 1831 o of this title. (2) Antitrust laws
“antitrust laws” applies in that section
The term “antitrust laws”— (A) has the same meaning as in subsection (a) of section 12 of title 15 ; and (B) includes section 45 of title 15 to the extent such section 45 relates to unfair methods of competition. (3) Branch
“branch” applies in that section
The term “branch” means any domestic branch. (4) Home State
“home State” applies in that section
The term “home State”— (A) means— (i) with respect to a national bank, the State in which the main office of the bank is located; and (ii) with respect to a State bank, the State by which the bank is chartered; and (B) with respect to a bank holding company, has the same meaning as in section 1841( o )(4) of this title. (5) Host State
“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. (6) Interstate merger transaction
“interstate merger transaction” applies in that section
The term “interstate merger transaction” means any merger transaction approved pursuant to subsection (a)(1). (7) Merger transaction
“merger transaction” applies in that section
The term “merger transaction” has the meaning determined under section 1828(c)(3) of this title . (8) Out-of-State bank
“out-of-State bank” applies in that section
The term “out-of-State bank” means, with respect to any State, a bank whose home State is another State. (9) Out-of-State bank holding company
“out-of-State bank holding company” applies in that section
The term “out-of-State bank holding company” means, with respect to any State, a bank holding company whose home State is another State. (10) Responsible agency
“responsible agency” applies in that section
The term “responsible agency” means the agency determined in accordance with section 1828(c)(2) of this title with respect to a merger transaction. (11) Resulting bank
“resulting bank” applies in that section
The term “resulting bank” means a bank that has resulted from an interstate merger transaction under this section.
“functionally regulated affiliate” applies in that section
The term “functionally regulated affiliate” means, with respect to any depository institution, any affiliate of such depository institution that is— (A) not a depository institution holding company; and (B) a company described in any clause of section 1844(c)(5)(B) of this title .
“functionally regulated subsidiary” applies in that section
The term “functionally regulated subsidiary” has the meaning given the term in section 1844(c)(5) of this title . (2) Functionally regulated affiliate
“financial subsidiary” applies in that section
The term “financial subsidiary” has the meaning given the term in section 24a(g) of this title . (d) Preservation of authority (1) This chapter No provision of this section shall be construed as superseding the authority of the Federal Deposit Insurance Corporation to review subsidiary activities under section 1831a of this title . (2) Federal Reserve Act No provision of this section shall be construed as affecting the applicability of the 20th undesignated paragraph of section 9 of the Federal Reserve Act [ 12 U.S.C. 335 ].
“subsidiary” applies in that section
The term “subsidiary” means any company that is a subsidiary (as defined in section 1813(w)(4) of this title ) of 1 or more insured banks. (2) Financial subsidiary
“domestic violence” applies in that section
the term “domestic violence” means the occurrence of one or more of the following acts by a current or former family member, household member, intimate partner, or caretaker: (A) Attempting to cause or causing or threatening another person physical harm, severe emotional distress, psychological trauma, rape, or sexual assault. (B) Engaging in a course of conduct or repeatedly committing acts toward another person, including following the person without proper authority, under circumstances that place the person in reasonable fear of bodily injury or physical harm. (C) Subjecting another person to false imprisonment.
“agreement” applies in that section
the term “agreement”— (A) means— (i) any written contract, written arrangement, or other written understanding that provides for cash payments, grants, or other consideration with a value in excess of $10,000, or for loans the aggregate amount of principal of which exceeds $50,000, annually (or the sum of all such agreements during a 12-month period with an aggregate value of cash payments, grants, or other consideration in excess of $10,000, or with an aggregate amount of loan principal in excess of $50,000); or (ii) a group of substantively related contracts with an aggregate value of cash payments, grants, or other consideration in excess of $10,000, or with an aggregate amount of loan …
“fulfillment” applies in that section
the term “fulfillment” means a list of factors that the appropriate Federal banking agency determines have a material impact on the agency’s decision— (A) to approve or disapprove an application for a deposit facility (as defined in section 803 of the Community Reinvestment Act of 1977 [ 12 U.S.C. 2902 ]); or (B) to assign a rating to an insured depository institution under section 807 of the Community Reinvestment Act of 1977 [ 12 U.S.C. 2906 ].
“depository institution” applies in that section
the term “depository institution” means— (1) any insured bank as defined in section 1813 of this title ; (2) any State bank as defined in section 1813 of this title ; (3) any mutual savings bank as defined in section 1813 of this title ; (4) any savings bank as defined in section 1813 of this title ; (5) any insured institution as defined in section 1724 1 of this title; and (6) any building and loan association or savings and loan association organized and operated according to the laws of the State in which it is chartered or organized; and, for purposes of this paragraph,
“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, or the Virgin Islands. (c) Fine Any depository institution which violates this section shall be fined $1,000 for each violation.
“person” applies in that section
the term “person” includes the Bank Insurance Fund, the Savings Association Insurance Fund, and after the merger of such funds, the Deposit Insurance Fund, and the National Credit Union Share Insurance Fund. (c) Violations to which penalty is applicable This section applies to a violation of, or a conspiracy to violate— (1) section 215, 656, 657, 1005, 1006, 1007, 1014, or 1344 of title 18; (2) section 287, 1001, 1032, 1 1341 or 1343 of title 18 affecting a federally insured financial institution; or (3) section 645(a) of title 15 . (d) Effective date This section shall apply to violations occurring on or after August 10, 1984 .
“Comptroller” applies in that section
The term “Comptroller” means the Comptroller of the Currency. (B) Corporation
“Corporation” applies in that section
The term “Corporation” means the Federal Deposit Insurance Corporation. (C) Insured depository institution
“insured depository institution” applies in that section
The term “insured depository institution” has the meaning given to such term in section 1813(c)(2) of this title . (D) Lifeline account
“lifeline account” applies in that section
The term “lifeline account” means any transaction account (as defined in section 461(b)(1)(C) of this title ) which meets the minimum requirements established by the Corporation under this subsection. (b) Omitted (c) Availability of funds The provisions of this section shall not take effect until appropriations are specifically provided in advance. There are hereby authorized to be appropriated such sums as may be necessary to carry out the provisions of this section.
“affiliate” applies in that section
The term “affiliate” has the same meaning as in section 1841 of this title .
“appropriate Federal banking agency” applies in that section
The term “appropriate Federal banking agency” has the meaning given to such term in section 1813(q) of this title . (2) Board
“Board” applies in that section
The term “Board” means the Community Enterprise Assessment Credit Board established under the amendment made 2 by subsection (d). (3) Insured depository institution
“community development financial institution” applies in that section
The term “community development financial institution” has the same meaning as in section 4702(5) of this title . (5) Affiliate
“insured depository institution” applies in that section
The term “insured depository institution” has the meaning given to such term in section 1813(c)(2) of this title . (4) Community development financial institution
“qualified distressed community” applies in that section
the term “qualified distressed community” means any neighborhood or community which— (A) meets the minimum area requirements under paragraph (3) and the eligibility requirements of paragraph (4); and (B) is designated as a distressed community by any insured depository institution in accordance with paragraph (2) and such designation is not disapproved under such paragraph. (2) Designation requirements (A) Notice of designation (i) Notice to agency Upon designating an area as a qualified distressed community, an insured depository institution shall notify the appropriate Federal banking agency of the designation.
“community development bank” applies in that section
The term “community development bank” means any depository institution (as defined in section 1813(c)(1) of this title ). (2) Community development organization
“community development organization” applies in that section
The term “community development organization” means any community development bank, community development corporation, community development unit within any insured depository institution, or community development credit union. (3) Low- and moderate-income persons
“low- and moderate-income persons” applies in that section
The term “low- and moderate-income persons” has the meaning given such term in section 5302(a)(20) of title 42 . (4) Nonprofit organization; small business
“nonprofit organization” applies in that section
The terms “nonprofit organization” and “small business” have the meanings given to such terms by regulations which the appropriate Federal banking agency shall prescribe for purposes of this section. (5) Qualified distressed community
“qualified distressed community” applies in that section
The term “qualified distressed community” has the meaning given to such term in section 1834a(b) of this title .
“small business” applies in that section
The terms “nonprofit organization” and “small business” have the meanings given to such terms by regulations which the appropriate Federal banking agency shall prescribe for purposes of this section. (5) Qualified distressed community
“adequately capitalized” applies in that section
the term “adequately capitalized” has the same meaning as in section 1831 o (b) of this title;
“appropriate Federal banking agency” applies in that section
the term “appropriate Federal banking agency” has the same meaning as in section 1813 of this title ;
“capital standards” applies in that section
the term “capital standards” has the same meaning as in section 1831 o (c) of this title;
“Federal banking agencies” applies in that section
the term “Federal banking agencies” has the same meaning as in section 1813 of this title ;
“insured depository institution” applies in that section
the term “insured depository institution” has the same meaning as in section 1813 of this title ;
“other capital measures” applies in that section
the term “other capital measures” has the meaning as in section 1831 o (c) of this title;
“recourse” applies in that section
the term “recourse” has the meaning given to such term under generally accepted accounting principles;
“small business” applies in that section
the term “small business” means a business that meets the criteria for a small business concern established by the Small Business Administration under section 632(a) of title 15 ; and;
“well capitalized” applies in that section
the term “well capitalized” has the same meaning as in section 1831 o (b) of this title.
“appropriate Federal banking agency” applies in that section
The terms “appropriate Federal banking agency”, “bank”, “State”, and “State bank” have the same meanings as in section 1813 of this title . (2) Home State
“bank” applies in that section
The terms “appropriate Federal banking agency”, “bank”, “State”, and “State bank” have the same meanings as in section 1813 of this title . (2) Home State
“home State” applies in that section
The term “home State” means— (A) in the case of a national bank, the State in which the main office of the bank is located; and (B) in the case of a State bank, the State by which the bank is chartered. (3) Host State
“host State” applies in that section
The term “host State” means a State in which a bank establishes a branch other than the home State of the bank. (4) Interstate branch
“interstate branch” applies in that section
The term “interstate branch” means a branch established pursuant to this title 1 or any amendment made by this title 1 to any other provision of law and any branch of a bank controlled by an out-of-State bank holding company (as defined in section 1841( o )(7) of this title). (5) Out-of-State bank
“out-of-State bank” applies in that section
The term “out-of-State bank” means, with respect to any State, a bank the home State of which is another State and, for purposes of this section, includes a foreign bank, the home State of which is another State.
“State” applies in that section
The terms “appropriate Federal banking agency”, “bank”, “State”, and “State bank” have the same meanings as in section 1813 of this title . (2) Home State
“State bank” applies in that section
The terms “appropriate Federal banking agency”, “bank”, “State”, and “State bank” have the same meanings as in section 1813 of this title . (2) Home State
“adequately capitalized” applies throughout its chapter
the terms “well capitalized”, “adequately capitalized”, and “undercapitalized” have the same meanings as in section 38 of the Federal Deposit Insurance Act [ 12 U.S.C. 1831 o ]. (B) Bank holding company.— (i) Adequately capitalized .— With respect to a bank holding company,
“affiliate” applies throughout its chapter
the term “affiliate” means any company that controls, is controlled by, or is under common control with another company. (l) Savings Bank Holding Company .— For purposes of this chapter,
“antitrust laws” applies throughout its chapter
the term “antitrust laws”— (A) has the same meaning as in subsection (a) of section 12 of title 15 ; and (B) includes section 45 of title 15 to the extent that such section 45 relates to unfair methods of competition. (3) Branch .—
“appropriate Federal banking agency” applies throughout its chapter
the terms “depository institution”, “insured depository institution”, “appropriate Federal banking agency”, “default”, “in danger of default”, and “State bank supervisor” have the same meanings as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]. (o) Other Definitions .— For purposes of this chapter, the following definitions shall apply: (1) Capital terms.— (A) Insured depository institutions .— With respect to insured depository institutions,
“bank” applies throughout its chapter
the term “bank” means any of the following: (A) An insured bank as defined in section 3(h) of the Federal Deposit Insurance Act [ 12 U.S.C. 1813(h) ]. (B) An institution organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands which both— (i) accepts demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; and (ii) is engaged in the business of making commercial loans.
“branch” applies throughout its chapter
The term “branch” means a domestic branch (as defined in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]). (4) Home state .—
“default” applies throughout its chapter
the terms “depository institution”, “insured depository institution”, “appropriate Federal banking agency”, “default”, “in danger of default”, and “State bank supervisor” have the same meanings as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]. (o) Other Definitions .— For purposes of this chapter, the following definitions shall apply: (1) Capital terms.— (A) Insured depository institutions .— With respect to insured depository institutions,
“depository institution” applies throughout its chapter
the terms “depository institution”, “insured depository institution”, “appropriate Federal banking agency”, “default”, “in danger of default”, and “State bank supervisor” have the same meanings as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]. (o) Other Definitions .— For purposes of this chapter, the following definitions shall apply: (1) Capital terms.— (A) Insured depository institutions .— With respect to insured depository institutions,
“financial holding company” applies throughout its chapter
the term “financial holding company” means a bank holding company that meets the requirements of section 1843( l )(1) of this title. (q) Insurance Company .— For purposes of sections 1843 and 1844 of this title,
“home State” applies throughout its chapter
The term “home State” means— (A) with respect to a national bank, the State in which the main office of the bank is located; (B) with respect to a State bank, the State by which the bank is chartered; (C) with respect to a bank holding company, the State in which the total deposits of all banking subsidiaries of such company are the largest on the later of— (i) July 1, 1966 ; or (ii) the date on which the company becomes a bank holding company under this chapter; (D) with respect to a State savings association, the State by which the savings association is chartered; and (E) with respect to a Federal savings association, the State in which the home office (as defined by the regulations of …
“host State” applies throughout its chapter
The term “host State” means— (A) 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; and (B) with respect to a bank holding company, a State, other than the home State of the company, in which the company controls, or seeks to control, a bank subsidiary. (6) Out-of-state bank .—
“in danger of default” applies throughout its chapter
the terms “depository institution”, “insured depository institution”, “appropriate Federal banking agency”, “default”, “in danger of default”, and “State bank supervisor” have the same meanings as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]. (o) Other Definitions .— For purposes of this chapter, the following definitions shall apply: (1) Capital terms.— (A) Insured depository institutions .— With respect to insured depository institutions,
“insurance company” applies throughout its chapter
the term “insurance company” includes any person engaged in the business of insurance to the extent of such activities.
“insured depository institution” applies throughout its chapter
the terms “depository institution”, “insured depository institution”, “appropriate Federal banking agency”, “default”, “in danger of default”, and “State bank supervisor” have the same meanings as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]. (o) Other Definitions .— For purposes of this chapter, the following definitions shall apply: (1) Capital terms.— (A) Insured depository institutions .— With respect to insured depository institutions,
“insured institution” applies throughout its chapter
The term “savings association” or “insured institution” means— (1) any Federal savings association or Federal savings bank; (2) any building and loan association, savings and loan association, homestead association, or cooperative bank if such association or cooperative bank is a member of the Deposit Insurance Fund; and (3) any savings bank or cooperative bank which is deemed by the appropriate Federal banking agency to be a savings association under section 1467a( l ) of this title. (k) Affiliate .— For purposes of this chapter,
“lead insured depository institution” applies throughout its chapter
The term “lead insured depository institution” means the largest insured depository institution controlled by the subject bank holding company at any time, based on a comparison of the average total risk-weighted assets controlled by each insured depository institution during the previous 12-month period. (B) Branch or agency .— For purposes of this paragraph and section 1843(j)(4) of this title ,
“out-of-State bank” applies throughout its chapter
The term “out-of-State bank” means, with respect to any State, a bank whose home State is another State. (7) Out-of-state bank holding company .—
“out-of-State bank holding company” applies throughout its chapter
The term “out-of-State bank holding company” means, with respect to any State, a bank holding company whose home State is another State. (8) Lead insured depository institutions.— (A) In general .—
“qualified family partnership” applies in that section
The term “qualified family partnership” means a general or limited partnership that the Board determines— (A) does not directly control any bank, except through a registered bank holding company; (B) does not control more than 1 registered bank holding company; (C) does not engage in any business activity, except indirectly through ownership of other business entities; (D) has no investments other than those permitted for a bank holding company pursuant to section 1843(c) of this title ; (E) is not obligated on any debt, either directly or as a guarantor; (F) has partners, all of whom are either— (i) individuals related to each other by blood, marriage (including former marriage), or …
“risk-weighted assets” applies throughout its chapter
The terms “Tier 1” and “risk-weighted assets” have the meanings given those terms in the capital guidelines or regulations established by the Board for bank holding companies. (2) Antitrust laws .— Except as provided in section 1849 of this title ,