Sec. 1. short title; definitions and rules of construction
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## Section 1 short title; definitions and rules of construction **[**[12 U.S.C. 3101 note](/us/usc/t12/s3101)**]** ###
(a)This Act may be cited as the “International Banking Act of 1978”. ###
(b)**[**[12 U.S.C. 3101](/us/usc/t12/s3101)**]** For the purposes of this Act— ####
(1)“**agency**” means any office or any place of business of a foreign bank located in any State of the United States at which credit balances are maintained incidental to or arising out of the exercise of banking powers, checks are paid, or money is lent but at which deposits may not be accepted from citizens or residents of the United States; ####
(2)“**Board**” means the Board of Governors of the Federal Reserve System; ####
(3)“**branch**” means any office or any place of business of a foreign bank located in any State of the United States at which deposits are received; ####
(4)“**Comptroller**” means the Comptroller of the Currency; ####
(5)“**Federal agency**” means an agency of a foreign bank established and operating under section 4 of this Act; ####
(6)“**Federal branch**” means a branch of a foreign bank established and operating under section 4 of this Act; ####
(7)“**foreign bank**” means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which engages in the business of banking, or any subsidiary or affiliate, organized under such laws, of any such company. For the purposes of this Act the term “**foreign bank**” includes, without limitation, foreign commercial banks, foreign merchant banks and other foreign institutions that engage in banking activities usual in connection with the business of banking in the countries where such foreign institutions are organized or operating; ####
(8)“**foreign country**” means any country other than the United States, and includes any colony, dependency, or possession of any such country; ####
(9)“**commercial lending company**” means any institution, other than a bank or an organization operating under section 25 of the Federal Reserve Act, organized under the laws of any State of the United States, or the District of Columbia which maintains credit balances incidental to or arising out of the exercise of banking powers and engages in the business of making commercial loans; ####
(10)“**State**” means any State of the United States or the District of Columbia; ####
(11)“**State agency**” means an agency of a foreign bank established and operating under the laws of any State; ####
(12)“**State branch**” means a branch of a foreign bank established and operating under the laws of any State; ####
(13)the terms “**affiliate**”, “bank”, “bank holding company”, “company”, “control”, and “subsidiary” have the same meanings assigned to those terms in the Bank Holding Company Act of 1956, and the terms “**controlled**” and “controlling” shall be construed consistently with the term “**control**” as defined in section 2 of the Bank Holding Company Act of 1956; ####
(14)“**consolidated**” means consolidated in accordance with generally accepted accounting principles in the United States consistently applied; ####
(15)the term “**representative office**” means any office of a foreign bank which is located in any State and is not a Federal branch, Federal agency, State branch, or State agency; ####
(16)the term “**office**” means any branch, agency, or representative office; and ####
(17)the term “**State bank supervisor**” has the meaning given to such term in section 3 of the Federal Deposit Insurance Act. **[**§§ 2 and 3 made amendments to other Acts**]**
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short title; definitions and rules of construction
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