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

The statute’s own glossary: every term Title 12 defines, in section order.

12 U.S.C. § 24 — Corporate powers of associations

“investment securities” applies in that section

the term “investment securities” shall mean marketable obligations, evidencing indebtedness of any person, copartnership, association, or corporation in the form of bonds, notes and/or debentures commonly known as investment securities under such further definition of the term “investment securities” as may by regulation be prescribed by the Comptroller of the Currency. Except as hereinafter provided or otherwise permitted by law, nothing herein contained shall authorize the purchase by the association for its own account of any shares of stock of any corporation.

“Province of Canada” applies in that section

the term “Province of Canada” means a Province of Canada and includes the Yukon Territory and the Northwest Territories and their successors. In addition to the provisions in this paragraph for dealing in, underwriting, or purchasing securities, the limitations and restrictions contained in this paragraph as to dealing in, underwriting, and purchasing investment securities for the national bank’s own account shall not apply to obligations (including limited obligation bonds, revenue bonds, and obligations that satisfy the requirements of section 142(b)(1) of title 26 ) issued by or on behalf of any State or political subdivision of a State, including any municipal corporate instrumentality …

“qualified Canadian government obligations” applies in that section

the term “qualified Canadian government obligations” means any debt obligation which is backed by Canada, any Province of Canada, or any political subdivision of any such Province to a degree which is comparable to the liability of the United States, any State, or any political subdivision thereof for any obligation which is backed by the full faith and credit of the United States, such State, or such political subdivision, and such term includes any debt obligation of any agent of Canada or any such Province or any political subdivision of such Province if— (A) the obligation of the agent is assumed in such agent’s capacity as agent for Canada or such Province or such political …

12 U.S.C. § 24a — Financial subsidiaries of national banks

“affiliate” applies in that section

The terms “affiliate”, “company”, “control”, and “subsidiary” have the meanings given those terms in section 1841 of this title . (2) Appropriate Federal banking agency, depository institution, insured bank, and insured depository institution

“appropriate Federal banking agency” applies in that section

The terms “appropriate Federal banking agency”, “depository institution”, “insured bank”, and “insured depository institution” have the meanings given those terms in section 1813 of this title . (3) Financial subsidiary

“company” applies in that section

“control” applies in that section

“depository institution” applies in that section

“eligible debt” applies in that section

The term “eligible debt” means unsecured long-term debt that— (A) is not supported by any form of credit enhancement, including a guarantee or standby letter of credit; and (B) is not held in whole or in any significant part by any affiliate, officer, director, principal shareholder, or employee of the bank or any other person acting on behalf of or with funds from the bank or an affiliate of the bank. (5) Well capitalized

“equity capital” applies in that section

the term “equity capital” includes, in addition to any equity instrument, any debt instrument issued by a financial subsidiary, if the instrument qualifies as capital of the subsidiary under any Federal or State law, regulation, or interpretation applicable to the subsidiary. (g) Definitions For purposes of this section, the following definitions shall apply: (1) Affiliate, company, control, and subsidiary

“financial subsidiary” applies in that section

The term “financial subsidiary” means any company that is controlled by 1 or more insured depository institutions other than a subsidiary that— (A) engages solely in activities that national banks are permitted to engage in directly and are conducted subject to the same terms and conditions that govern the conduct of such activities by national banks; or (B) a national bank is specifically authorized by the express terms of a Federal statute (other than this section), and not by implication or interpretation, to control, such as by section 25 or 25A of the Federal Reserve Act [ 12 U.S.C. 601 et seq., 611 et seq.] or the Bank Service Company Act [ 12 U.S.C. 1861 et seq.]. (4) Eligible debt

“insured bank” applies in that section

“insured depository institution” applies in that section

“subsidiary” applies in that section

“well capitalized” applies in that section

The term “well capitalized” has the meaning given the term in section 1831 o of this title. (6) Well managed

“well managed” applies in that section

The term “well managed” means— (A) in the case of a depository institution that has been examined, unless otherwise determined in writing by the appropriate Federal banking agency— (i) the achievement of a composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under an equivalent rating system) in connection with the most recent examination or subsequent review of the depository institution; and (ii) at least a rating of 2 for management, if such rating is given; or (B) in the case of any depository institution that has not been examined, the existence and use of managerial resources that the appropriate Federal banking agency determines …

12 U.S.C. § 25a — Participation by national banks in lotteries and related activities

“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 ).

12 U.S.C. § 25b — State law preemption standards for national banks and subsidiaries clarified

“affiliate” applies in that section

The terms “affiliate”, “subsidiary”, “includes”, and “including” have the same meanings as in section 1813 of this title . (b) Preemption standard (1) In general State consumer financial laws are preempted, only if— (A) application of a State consumer financial law would have a discriminatory effect on national banks, in comparison with the effect of the law on a bank chartered by that State; (B) in accordance with the legal standard for preemption in the decision of the Supreme Court of the United States in Barnett Bank of Marion County, N. A. v. Nelson, Florida Insurance Commissioner, et al., 517 U.S.

“depository institution” applies in that section

the terms “depository institution”, “subsidiary”, and “affiliate” have the same meanings as in section 1813 of this title . (2) Rule of construction No provision of title 62 of the Revised Statutes or section 371 of this title shall be construed as preempting, annulling, or affecting the applicability of State law to any subsidiary, affiliate, or agent of a national bank (other than a subsidiary, affiliate, or agent that is chartered as a national bank). (i) Visitorial powers (1) 1 In general In accordance with the decision of the Supreme Court of the United States in Cuomo v. Clearing House Assn., L. L. C. (129 S. Ct.

“includes” applies in that section

“including” applies in that section

“national bank” applies in that section

The term “national bank” includes— (A) any bank organized under the laws of the United States; and (B) any Federal branch established in accordance with the International Banking Act of 1978 [ 12 U.S.C. 3101 et seq.]. (2) State consumer financial laws

“State consumer financial law” applies in that section

The term “State consumer financial law” means a State law that does not directly or indirectly discriminate against national banks and that directly and specifically regulates the manner, content, or terms and conditions of any financial transaction (as may be authorized for national banks to engage in), or any account related thereto, with respect to a consumer. (3) Other definitions

“subsidiary” applies in that section

12 U.S.C. § 30 — Change of name or location

“depository institution” applies in that section

the terms “depository institution”, “insured depository institution”, “national bank”, and “State bank” have the meanings given those terms in section 1813 of this title .

“insured depository institution” applies in that section

the terms “depository institution”, “insured depository institution”, “national bank”, and “State bank” have the meanings given those terms in section 1813 of this title .

“national bank” applies in that section

the terms “depository institution”, “insured depository institution”, “national bank”, and “State bank” have the meanings given those terms in section 1813 of this title .

“State bank” applies in that section

the terms “depository institution”, “insured depository institution”, “national bank”, and “State bank” have the meanings given those terms in section 1813 of this title .

12 U.S.C. § 36 — Branch banks

“consolidation” applies in that section

the term “consolidation” includes a merger. (c) New branches A national banking association may, with the approval of the Comptroller of the Currency, establish and operate new branches: (1) Within the limits of the city, town or village in which said association is situated, if such establishment and operation are at the time expressly authorized to State banks by the law of the State in question; and (2) at any point within the State in which said association is situated, if such establishment and operation are at the time authorized to State banks by the statute law of the State in question by language specifically granting such authority affirmatively and not merely by implication or …

“de novo branch” applies in that section

The term “de novo branch” means a branch of a national bank which— (i) is originally established by the national 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. (B) Home State

“home State” applies in that section

The term “home State” means the State in which the main office of a national bank is located. (C) 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. (h) Repealed. Pub. L. 104–208, div. A, title II, § 2204 , Sept. 30, 1996 , 110 Stat. 3009–405 (i) Prior approval of branch locations No branch of any national banking association shall be established or moved from one location to another without first obtaining the consent and approval of the Comptroller of the Currency.

12 U.S.C. § 84 — Lending limits

“derivative transaction” applies in that section

the term “derivative transaction” includes any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of, any interest in, or any quantitative measure or the occurrence of any event relating to, one or more commodities, securities, currencies, interest or other rates, indices, or other assets. (c) Exceptions The limitations contained in subsection (a) shall be subject to the following exceptions: (1) Loans or extensions of credit arising from the discount of commercial or business paper evidencing an obligation to the person negotiating it with recourse shall not be subject to any limitation based on capital and surplus.

“loans and extensions of credit” applies in that section

the term “loans and extensions of credit” shall include— (A) all direct or indirect advances of funds to a person made on the basis of any obligation of that person to repay the funds or repayable from specific property pledged by or on behalf of the person; (B) to the extent specified by the Comptroller of the Currency, any liability of a national banking association to advance funds to or on behalf of a person pursuant to a contractual commitment; and (C) any credit exposure to a person arising from a derivative transaction, repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction between the national banking association and …

“person” applies in that section

the term “person” shall include an individual, sole proprietorship, partnership, joint venture, association, trust, estate, business trust, corporation, sovereign government or agency, instrumentality, or political subdivision thereof, or any similar entity or organization; and;

12 U.S.C. § 93 — Violation of provisions of chapter

“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 . (d) 5 Authority The Comptroller of the Currency may act in the Comptroller’s own name and through the Comptroller’s own attorneys in enforcing any provision of title 62 of the Revised Statutes, regulations thereunder, or any other law or regulation, or in any action, suit, or proceeding to which the Comptroller of the Currency is a party.

“violate” applies in that section

the term “violate” includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation. (12) 4 Regulations The Comptroller shall prescribe regulations establishing such procedures as may be necessary to carry out this subsection.

12 U.S.C. § 95 — Emergency limitations and restrictions on business of members of Federal Reserve System; designation of legal holiday for national banking associations; exceptions; “State” defined

“State” applies in that section

the term “State” means any of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, or any other territory or possession of the United States.

12 U.S.C. § 202 — Definitions

“bank” applies throughout its subchapter

the term “bank” means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency;

“State” applies throughout its subchapter

the term “State” means any State, Territory, or possession of the United States, and the Canal Zone.

“voluntary dissolution and liquidation” applies throughout its subchapter

the term “voluntary dissolution and liquidation” means a transaction pursuant to section 181 of this title that involves the assumption of the bank’s insured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern; and

12 U.S.C. § 214 — Definitions

“national banking association” applies throughout its subchapter

the term “national banking association” means one or more national banking associations, and

“State bank” applies throughout its subchapter

the term “State bank” means any bank, banking association, trust company, savings bank (other than a mutual savings bank), or other banking institution which is engaged in the business of receiving deposits and which is incorporated under the laws of any State, any Territory of the United States, Puerto Rico, or the Virgin Islands, or which is operating under the Code of Law for the District of Columbia. (b) For purposes of merger or consolidation under this subchapter and section 321 of this title

12 U.S.C. § 215c — Mergers, consolidations, and other acquisitions authorized

“acquire” applies in that section

the term “acquire” means to acquire, directly or indirectly, ownership or control through a merger or consolidation or an acquisition of assets or assumption of liabilities, provided that following such merger, consolidation, or acquisition, an acquiring insured depository institution may not own the shares of the acquired insured depository institution.

12 U.S.C. § 216a — Definitions

“claimant” applies throughout its subchapter

the term “claimant” means any person or entity, including a State under applicable statutory law, asserting a demonstrable legal interest in title to, or custody or possession of, unclaimed property.

“Comptroller” applies throughout its subchapter

the term “Comptroller” means the Comptroller of the Currency;

“unclaimed property” applies throughout its subchapter

the term “unclaimed property” means any articles, items, assets, other property, or the proceeds thereof from safe deposit boxes or other safekeeping arrangements with closed national banks, which are in the possession, custody, or control of the Comptroller in its capacity as successor to receivers of those banks; and;

12 U.S.C. § 221 — Definitions

“the continental United States” applies throughout its chapter

the term “the continental United States” means the States of the United States and the District of Columbia. The terms “bonds and notes of the United States”, “bonds and notes of the Government of the United States”, and “bonds or notes of the United States” used in this chapter shall be held to include certificates of indebtedness and Treasury bills issued under section 3104 of title 31 .

12 U.S.C. § 221a — Additional definitions

“affiliate” applies throughout its chapter

the term “affiliate” shall include any corporation, business trust, association, or other similar organization— (1) Of which a member bank, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 per centum of the number of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions; or (2) Of which control is held, directly or indirectly, through stock ownership or in any other manner, by the shareholders of a member bank who own or control either a …

12 U.S.C. § 248 — Enumerated powers

“covered transaction” applies in that section

The term “covered transaction” means— (i) any open market transaction with a nongovernmental third party conducted under section 353 of this title or section 354, 355, or 356 of this title, after July 21, 2010 ; and (ii) any advance made under section 347b of this title after July 21, 2010 . (5) Termination of credit facility by operation of law A credit facility shall be deemed to have terminated as of the end of the 24-month period beginning on the date on which the credit facility ceases to make extensions of credit and loans, unless the credit facility is otherwise terminated by the Board before such date.

“credit facility” applies in that section

The term “credit facility” has the same meaning as in section 714(f)(1)(A) of title 31 . (B) Covered transaction

“law enforcement officers” applies in that section

the term “law enforcement officers” means personnel who have successfully completed law enforcement training and are authorized to carry firearms and make arrests pursuant to this subsection. (5) The law enforcement authorities provided for in this subsection may be exercised only pursuant to regulations prescribed by the Board and approved by the Attorney General. (r) Voting; documentation of determinations (1) Any action that this chapter provides may be taken only upon the affirmative vote of 5 members of the Board may be taken upon the unanimous vote of all members then in office if there are fewer than 5 members in office at the time of the action.

12 U.S.C. § 248c — Master account and services database

“access request” applies in that section

The term “access request” means a request to a Federal reserve bank for access to a reserve bank master account and services, including any written documentation or formal indication that an entity intends to seek access to a reserve bank master account and services. (2) Official accountholder

“official accountholder” applies in that section

The term “official accountholder” means— (A) a foreign state, as defined in section 632 of this title ; (B) a central bank, as defined in section 632 of this title , other than a commercial bank; (C) a public international organization entitled to enjoy privileges, exemptions, and immunities as an international organization under the International Organizations Immunities Act ( 22 U.S.C. 288 et seq.); and (D) any governmental entity for which the Secretary of the Treasury has directed a Federal reserve bank to receive deposits as fiscal agent of the United States under section 391 of this title . (3) Reserve bank master account and services

“reserve bank master account and services” applies in that section

The term “reserve bank master account and services” means an account in which a Federal reserve bank— (A) receives deposits for an entity other than an official accountholder; or (B) provides any service under section 248a(b) of this title to an entity other than an official accountholder.

12 U.S.C. § 339 — Participation by State member banks in lotteries and related activities

“deal in” applies in that section

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

“lottery” applies in that section

“lottery ticket” applies in that section

“savings promotion raffle” applies in that section

12 U.S.C. § 347b — Advances to individual member banks on time or demand notes; maturities; time notes secured by mortgage loans covering one-to-four family residences

“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 . (B) Critically undercapitalized

“critically undercapitalized” applies in that section

The term “critically undercapitalized” has the same meaning as in section 1831 o of this title. (C) Depository institution

“depository institution” applies in that section

The term “depository institution” has the same meaning as in section 1813 of this title . (D) Undercapitalized depository institution

“undercapitalized depository institution” applies in that section

The term “undercapitalized depository institution” means any depository institution which— (i) is undercapitalized, as defined in section 1831 o of this title; or (ii) has a composite CAMEL rating of 5 under the Uniform Financial Institutions Rating System (or an equivalent rating by any such agency under a comparable rating system) as of the most recent examination of such institution.

12 U.S.C. § 371b–2 — Interbank liabilities

“insured depository institution” applies in that section

the term “insured depository institution” has the same meaning as in section 1813 of this title . (e) Rulemaking authority; enforcement The Board may issue such regulations and orders, including definitions consistent with this section, as may be necessary to administer and carry out the purpose of this section. The appropriate Federal banking agency shall enforce compliance with those regulations under section 1818 of this title .

12 U.S.C. § 371c — Banking affiliates

“aggregate amount of covered transactions” applies in that section

the term “aggregate amount of covered transactions” means the amount of the covered transactions about to be engaged in added to the current amount of all outstanding covered transactions;

“bank” applies in that section

the term “bank” includes a State bank, national bank, banking association, and trust company;

“company” applies in that section

the term “company” means a corporation, partnership, business trust, association, or similar organization and, unless specifically excluded,

“covered transaction” applies in that section

the term “covered transaction” means with respect to an affiliate of a member bank— (A) a loan or extension of credit to the affiliate, including a purchase of assets subject to an agreement to repurchase; (B) a purchase of or an investment in securities issued by the affiliate; (C) a purchase of assets from the affiliate, except such purchase of real and personal property as may be specifically exempted by the Board by order or regulation; (D) the acceptance of securities or other debt obligations issued by the affiliate as collateral security for a loan or extension of credit to any person or company; (E) the issuance of a guarantee, acceptance, or letter of credit, including an …

“financial subsidiary” applies in that section

the term “financial subsidiary” means any company that is a subsidiary of a bank that would be a financial subsidiary of a national bank under section 24a of this title . (2) Financial subsidiary treated as an affiliate For purposes of applying this section and section 371c–1 of this title , and notwithstanding subsection (b)(2) of this section or section 371c–1(d)(1) of this title , a financial subsidiary of a bank— (A) shall be deemed to be an affiliate of the bank; and (B) shall not be deemed to be a subsidiary of the bank.

“low-quality asset” applies in that section

the term “low-quality asset” means an asset that falls in any one or more of the following categories: (A) an asset classified as “substandard”, “doubtful”, or “loss” or treated as “other loans especially mentioned” in the most recent report of examination or inspection of an affiliate prepared by either a Federal or State supervisory agency; (B) an asset in a nonaccrual status; (C) an asset on which principal or interest payments are more than thirty days past due; or (D) an asset whose terms have been renegotiated or compromised due to the deteriorating financial condition of the obligor.

“securities” applies in that section

the term “securities” means stocks, bonds, debentures, notes, or other similar obligations; and;

12 U.S.C. § 371c–1 — Restrictions on transactions with affiliates

“affiliate” applies in that section

the term “affiliate” has the meaning given to such term in section 371c of this title (but does not include any company described in section 1 (b)(2) of such section or any bank); (2) the terms “bank”, “subsidiary”, “person”, and “security” (other than security as used in subsection (b)) have the meanings given to such terms in section 371c of this title ; and;

“covered transaction” applies in that section

the term “covered transaction” has the meaning given to such term in section 371c of this title (but does not include any transaction which is exempt from such definition under subsection (d) of such section).

“principal underwriter” applies in that section

the term “principal underwriter” means any underwriter who, in connection with a primary distribution of securities— (i) is in privity of contract with the issuer or an affiliated person of the issuer; (ii) acting alone or in concert with one or more other persons, initiates or directs the formation of an underwriting syndicate; or (iii) is allowed a rate of gross commission, spread, or other profit greater than the rate allowed another underwriter participating in the distribution.

“security” applies in that section

the term “security” has the meaning given to such term in section 78c(a)(10) of title 15 ; and;

12 U.S.C. § 371d — Investment in bank premises or stock of corporation holding premises

“affiliate” applies in that section

the term “affiliate” has the same meaning as in section 221a of this title ; and;

“well capitalized” applies in that section

the term “well capitalized” has the same meaning as in section 1831 o (b) of this title.

12 U.S.C. § 375b — Extensions of credit to executive officers, directors, and principal shareholders of member banks

“company” applies in that section

the term “company” means any corporation, partnership, business or other trust, association, joint venture, pool syndicate, sole proprietorship, unincorporated organization, or other business entity. (ii) Exceptions The term “company” does not include— (I) an insured depository institution (as defined in section 1813 of this title ); or (II) a corporation the majority of the shares of which are owned by the United States or by any State.

“member bank” applies in that section

The term “member bank” includes any subsidiary of a member bank. (F) Principal shareholder

“principal shareholder” applies in that section

The term “principal shareholder”— (i) means any person that directly or indirectly, or acting through or in concert with one or more persons, owns, controls, or has the power to vote more than 10 percent of any class of voting securities of a member bank or company; and (ii) does not include a company of which a member bank is a subsidiary. (G) Related interest A “related interest” of a person is— (i) any company controlled by that person; and (ii) any political or campaign committee that is controlled by that person or the funds or services of which will benefit that person. (H) Subsidiary

“subsidiary” applies in that section

The term “subsidiary” has the same meaning as in section 1841 of this title . (10) Board’s rulemaking authority The Board of Governors of the Federal Reserve System may prescribe such regulations, including definitions of terms, as it determines to be necessary to effectuate the purposes and prevent evasions of this section.

12 U.S.C. § 423 — Central bank digital currency

“central bank digital currency” applies in that section

The term “central bank digital currency” means a digital asset that— (A) is denominated in United States dollars; (B) is a United States currency; (C) is a direct liability of the Federal Reserve System; and (D) is widely available to the general public. (2) Digital asset

“digital asset” applies in that section

The term “digital asset” has the meaning given the term in section 5901 of this title . (b) Prohibition Except as provided in subsection (c), the Board of Governors of the Federal Reserve System or a Federal reserve bank may not issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly through a financial institution or other intermediary. (c) Exception Subsection (b) shall not prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.

12 U.S.C. § 461 — Reserve requirements

“bank” applies in that section

The term “bank” means any insured or noninsured bank, as defined in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ], other than a mutual savings bank or a savings bank as defined in such section.;

“depository institution” applies in that section

The term “depository institution” means— (i) any insured bank as defined in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ] or any bank which is eligible to make application to become an insured bank under section 5 of such Act [ 12 U.S.C.

“nonpersonal time deposits” applies in that section

The term “nonpersonal time deposits” means a transferable time deposit or account or a time deposit or account representing funds deposited to the credit of, or in which any beneficial interest is held by, a depositor who is not a natural person.;

“reservable liabilities” applies in that section

The term “reservable liabilities” means transaction accounts, nonpersonal time deposits, and all net balances, loans, assets, and obligations which are, or may be, subject to reserve requirements under paragraph (5).

“transaction account” applies in that section

The term “transaction account” means a deposit or account on which the depositor or account holder is permitted to make withdrawals by negotiable or transferable instrument, payment orders of withdrawal, telephone transfers, or other similar items for the purpose of making payments or transfers to third persons or others. Such term includes demand deposits, negotiable order of withdrawal accounts, savings deposits subject to automatic transfers, and share draft accounts.;

12 U.S.C. § 504 — Civil money penalty

“violate” applies in that section

the term “violate” includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation. (i) Regulations The Comptroller of the Currency and the Board shall prescribe regulations establishing such procedures as may be necessary to carry out this section.

12 U.S.C. § 505 — Civil money penalty

“violate” applies in that section

the term “violate” includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation. (9) Regulations The Board shall prescribe regulations establishing such procedures as may be necessary to carry out this section.

12 U.S.C. § 632 — Jurisdiction of United States courts; disposition by banks of foreign owned property

“central bank” applies in that section

the term “central bank” includes any foreign bank or banker authorized to perform any one or more of the functions of a central bank;

“foreign state” applies in that section

the term “foreign state” includes any foreign government or any department, district, province, county, possession, or other similar governmental organization or subdivision of a foreign government, and any agency or instrumentality of any such foreign government or of any such organization or subdivision;

“person” applies in that section

the term “person” includes any individual, or any corporation, partnership, association, or other similar organization; and (5) the term “insured bank” shall have the meaning given to it in section 12B of this Act.

“property” applies in that section

the term “property” includes gold, silver, currency, credits, deposits, securities, choses in action, and any other form of property, the proceeds thereof, and any right, title, or interest therein;

12 U.S.C. § 635 — Powers and functions of Bank

“country” applies in that section

The term “country” has the meaning given to “foreign state” in section 1603(a) of title 28 . (ii) The term “knowingly” is used within the meaning of the term “knowing” in section 78dd–2(h)(3) of title 15 .;

“covered country” applies in that section

the term “covered country” means any country that— (A) the Secretary of the Treasury designates as a covered country in a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Development of the Senate; (B) is not a participant in the Arrangement on Officially Supported Export Credits of the Organization for Economic Cooperation and Development (in this subsection referred to as the “Arrangement”); and (C) is not in substantial compliance with the financial terms and conditions of the Arrangement.

“defense articles or services” applies in that section

the term “defense articles or services” means articles, services, and related technical data that are designated as defense articles and defense services pursuant to sections 38 and 47(7) of the Arms Export Control Act [ 22 U.S.C. 2778 , 2794(7)] and listed on the United States Munitions List (part 121 of title 22 of the Code of Federal Regulations).

“fair and open competitive opportunity” applies in that section

the term “fair and open competitive opportunity” means, with respect to the provision of insurance by a United States insurance company, that the company— (i) has received notice of the opportunity to provide such insurance; and (ii) has been evaluated for such opportunity on a nondiscriminatory basis.

“Marxist-Leninist country” applies in that section

the term “Marxist-Leninist country” means any country that maintains a centrally planned economy based on the principles of Marxism-Leninism, or is economically and militarily dependent on any other such country. (ii) Specific countries deemed to be marxist-leninist .— Unless otherwise determined by the President in accordance with subparagraph (C), the following countries are deemed to be Marxist-Leninist countries for purposes of this paragraph: (I) Democratic People’s Republic of Korea. (II) Democratic Republic of Afghanistan. (III) People’s Republic of China. (IV) Republic of Cuba. (V) Socialist Republic of Vietnam. (VI) Tibet.

“non-nuclear-weapon state” applies in that section

The term “non-nuclear-weapon state” has the meaning given the term in section 6305(5) of title 22 .;

“nuclear explosive device” applies in that section

The term “nuclear explosive device” has the meaning given the term in section 6305(4) of title 22 .;

“nuclear-weapon state” applies in that section

The term “nuclear-weapon state” has the meaning given the term in Article IX(3) of the Treaty on the Non-Proliferation of Nuclear Weapons, signed at Washington, London, and Moscow on July 1, 1968 .;

“person” applies in that section

The term “person” means a natural person as well as a corporation, business association, partnership, society, trust, any other nongovernmental entity, organization, or group, and any governmental entity operating as a business enterprise, and any successor of any such entity.;

“United States insurance company” applies in that section

the term “United States insurance company”— (i) includes an individual, partnership, corporation, holding company, or other legal entity which is authorized (or in the case of a holding company, subsidiaries of which are authorized) by a State to engage in the business of issuing insurance contracts or reinsuring the risk underwritten by insurance companies; and (ii) includes foreign operations, branches, agencies, subsidiaries, affiliates, or joint ventures of any entity described in clause (i); and;

“unsafeguarded special nuclear material” applies in that section

The term “unsafeguarded special nuclear material” has the meaning given the term in section 6305(8) of title 22 . (5) The Bank shall not guarantee, insure, or extend credit, or participate in the extension of credit in connection with (A) the purchase of any product, technical data, or other information by a national or agency of any nation which engages in armed conflict, declared or otherwise, with the Armed Forces of the United States, (B) the purchase by any nation (or national or agency thereof) of any product, technical data, or other information which is to be used principally by or in any such nation described in clause (A), or (C) the purchase of any liquid metal fast breeder …

12 U.S.C. § 635a — Management of Bank

“surplus” applies in that section

the term “surplus” means the amount (if any) by which— (A) the sum of the interest and fees collected by the Bank; exceeds (B) the sum of— (i) the funds set aside to cover expected losses on transactions financed by the Bank; and (ii) the costs incurred to cover the administrative expenses of the Bank. (3) Limitation The aggregate of the amounts used in accordance with paragraph (1) for fiscal years 2015 through 2019 shall not exceed $20,000,000. (4) Subject to appropriations The authority provided by paragraph (1) may be exercised only to such extent and in such amounts as are provided in advance in appropriations Acts.

12 U.S.C. § 635g–1 — Annual competitiveness report

“appropriate congressional committees” applies in that section

The term “appropriate congressional committees” means the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.

12 U.S.C. § 635i–3 — Tied Aid Credit Fund and program

“Arrangement” applies in that section

The term “Arrangement” means the Arrangement on Guidelines for Officially Supported Export Credits established through the Organization for Economic Cooperation and Development. (4) Blended financing

“blended financing” applies in that section

The term “blended financing” means financing provided through any combination of official development assistance, official export credits, and private commercial credit which is integrated into a single agreement with a single set of financial terms. (5) Parallel financing

“offers grandfathered under the Arrangement” applies in that section

The term “offers grandfathered under the Arrangement” means— (A) financing offers made or lines of credit extended on or before February 15, 1992 ; or (B) financing offers extended for subloans under lines of credit referred to in subparagraph (A) made on or before August 15, 1992 , or, in the case of Mexico, on or before December 31, 1992 . (7) Market window The Bank, in consultation with the Secretary of the Treasury, shall define “market window” for purposes of this section.

“parallel financing” applies in that section

The term “parallel financing” means financing provided by any combination of official development assistance, official export credits, and private commercial credit which is not integrated into a single agreement and does not have a single set of financial terms. (6) Offers grandfathered under the Arrangement

“partially untied aid credit” applies in that section

The terms “tied aid credit” and “partially untied aid credit” mean any credit which— (A) has a grant element greater than zero percent, as determined by the Development Assistance Committee of the Organization for Economic Cooperation and Development; (B) is, in fact or in effect, tied to— (i) the procurement of goods or services from the donor country, in the case of tied aid credit; or (ii) the procurement of goods or services from a restricted number of countries, in the case of partially untied aid credit; and (C) is financed either exclusively from public funds or partly from public and partly from private funds. (2) Secretary

“Secretary” applies in that section

The term “Secretary” means the Secretary of the Treasury. (3) Arrangement

“tied aid credit” applies in that section

12 U.S.C. § 635i–6 — Debt reduction; Enterprise for the Americas Initiative

“eligible country” applies in that section

the term “eligible country” means a country designated by the President in accordance with subsection (b);

“Facility” applies in that section

the term “Facility” means the entity established in the Department of the Treasury by section 1738 of title 7 ; and;

“IMF” applies in that section

the term “IMF” means the International Monetary Fund. (b) Eligibility for benefits under the Facility (1) Requirements To be eligible for benefits from the Facility under this section, a country must— (A) be a Latin American or Caribbean country; (B) have in effect, have received approval for, or, as appropriate in exceptional circumstances, be making significant progress toward— (i) an IMF standby arrangement, extended IMF arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility or, in exceptional circumstances, an IMF monitored program or its equivalent; and (ii) as appropriate, structural or sectoral adjustment loans from the …

12 U.S.C. § 635i–8 — Special debt relief for poorest, most heavily indebted countries

“eligible country” applies in that section

the term “eligible country” means any country that— (i) has excessively burdensome external debt; (ii) is eligible to borrow from the International Development Association; and (iii) is not eligible to borrow from the International Bank for Reconstruction and Development. (B) Determinations Subject to subparagraph (A), the President may determine whether a country is an eligible country for purposes of subsection (a).

12 U.S.C. § 635i–9 — Market windows

“OECD” applies in that section

the term “OECD” means the Organization for Economic Cooperation and Development.

12 U.S.C. § 635t — Definitions

“Bank” applies throughout its subchapter

the term “Bank” means the Export-Import Bank of the United States.

“blending of financings” applies throughout its subchapter

the term “blending of financings” means the use of various combinations of official development assistance, official export credit, and private commercial credit, integrated into a single package with a single set of financial terms, to finance exports;

“government-mixed credits” applies throughout its subchapter

the term “government-mixed credits” means the combined use of credits, insurance, and guarantees offered by the Export-Import Bank of the United States with concessional financing or grants offered by the Agency for International Development to finance exports;

“parallel financing” applies throughout its subchapter

the term “parallel financing” means the related use of various combinations of separate lines of official development assistance, official export credits, and private commercial credit, not combined into a single package with a single set of financial terms, to finance exports; and;

“public-private cofinancing” applies throughout its subchapter

the term “public-private cofinancing” means the combined use of either official development assistance or official export credit with private commercial credit to finance exports;

“tied aid credit” applies throughout its subchapter

the term “tied aid credit” means credit— (A) which is provided for development aid purposes; (B) which is tied to the purchase of exports from the country granting the credit; (C) which is financed either exclusively from public funds, or, as a mixed credit, partly from public and partly from private funds; and (D) which has a grant element, as defined by the Development Assistance Committee of the Organization for Economic Cooperation and Development, greater than zero percent;

12 U.S.C. § 1141j — Miscellaneous provisions

“agricultural commodity” applies throughout its chapter

the term “agricultural commodity” includes, in addition to other agricultural commodities, crude gum (oleoresin) from a living tree, and the following products as processed by the original producer of the crude gum (oleoresin) from which derived: Gum spirits of turpentine and gum rosin, as defined in section 92 of title 7 .

“cooperative association” applies throughout its chapter

the term “cooperative association” means any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business services: Provided, however , That such associations are operated for the mutual benefit of the members thereof as such producers or purchasers and conform to one or both of the following requirements: First.

12 U.S.C. § 1422 — Definitions

“Agency” applies throughout its chapter

The term “Agency” means the Federal Housing Finance Agency, established under section 4511 of this title .

“Bank” applies throughout its chapter

The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter. (B) Bank system .—

“community financial institution” applies throughout its chapter

The term “community financial institution” means a member— (i) the deposits of which are insured under the Federal Deposit Insurance Act [ 12 U.S.C. 1811 et seq.]; and (ii) that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date. (B) Adjustments .— The $1,000,000,000 limit referred to in subparagraph (A)(ii) shall be adjusted annually by the Director, based on the annual percentage increase, if any, in the Consumer Price Index for all urban consumers, as published by the Department of Labor. (11) Director .—

“Director” applies throughout its chapter

The term “Director” means the Director of the Federal Housing Finance Agency. (12) Agency .—

“Federal Home Loan Bank” applies throughout its chapter

The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter. (B) Bank system .—

“Federal Home Loan Bank System” applies throughout its chapter

The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director. (2) State .— The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.;

“home mortgage” applies throughout its chapter

The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together …

“home mortgage loan” applies throughout its chapter

The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.;

“insured depository institution” applies throughout its chapter

The term “insured depository institution” means— (A) an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]), and (B) except as used in sections 1441a 1 and 1441b of this title, an insured credit union (as defined in section 1752 of this title ). (10) Community financial institution.— (A) In general .—

“member” applies throughout its chapter

The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.;

“savings association” applies throughout its chapter

The term “savings association” has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]. (9) Insured depository institution .—

12 U.S.C. § 1426a — Exclusion from certain requirements

“Bank” applies in that section

the terms “Bank”, “Federal Home Loan Bank”, “member”, and “Federal Home Loan Bank System” have the same meanings as in section 1422 of this title ;

“Commission” applies in that section

the term “Commission” means the Securities and Exchange Commission; and;

“Federal Home Loan Bank” applies in that section

the terms “Bank”, “Federal Home Loan Bank”, “member”, and “Federal Home Loan Bank System” have the same meanings as in section 1422 of this title ;

“Federal Home Loan Bank System” applies in that section

the terms “Bank”, “Federal Home Loan Bank”, “member”, and “Federal Home Loan Bank System” have the same meanings as in section 1422 of this title ;

“member” applies in that section

the terms “Bank”, “Federal Home Loan Bank”, “member”, and “Federal Home Loan Bank System” have the same meanings as in section 1422 of this title ;

“securities laws” applies in that section

the term “securities laws” has the same meaning as in section 78c(a)(47) of title 15 .

12 U.S.C. § 1427 — Directors

“independent director” applies in that section

The terms “independent director” and “independent directorship” mean a member of the board of directors of a Federal Home Loan Bank who is a bona fide resident of the district in which the Federal Home Loan Bank is located, or the directorship held by such a person, respectively. (B) Member director

“independent directorship” applies in that section

“member” applies in that section

the term “member” means a member of a Federal home loan bank which was a member of such bank at the end of such calendar year. (2) Independent directorships (A) Elections Each independent director— (i) shall be elected by the members entitled to vote, from among eligible persons nominated, after consultation with the Advisory Council of the Bank, by the board of directors of the Bank; and (ii) shall be elected by a plurality of the votes of the members of the Bank at large, with each member having the number of votes for each such directorship as it has under paragraph (1) in an election to fill member directorships.