§ 3902. Definitions

441 words·~2 min read·/usc/title-12/section-3902

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For purposes of this chapter—

(1)the term “appropriate Federal banking agency” has the same meaning given such term in section 1813(q) of this title, except that for purposes of this chapter such term means the Board of Governors of the Federal Reserve System for—

(A)bank holding companies and any nonbank subsidiary thereof;

(B)Edge Act corporations organized under section 25(a) 1 of the Federal Reserve Act [12 U.S.C. 611 et seq.]; and

(C)Agreement Corporations operating under section 25 of the Federal Reserve Act [12 U.S.C. 601 et seq.]; and

(2)the term “banking institution” means—

(i)an insured bank as defined in section 1813(h) of this title or any subsidiary of an insured bank;

(ii)an Edge Act corporation organized under section 25(a) 1 of the Federal Reserve Act [12 U.S.C. 611 et seq.]; and

(iii)an Agreement Corporation operating under section 25 of the Federal Reserve Act [12 U.S.C. 601 et seq.]; and

(B)to the extent determined by the appropriate Federal banking agency, any agency or branch of a foreign bank, and any commercial lending company owned or controlled by one or more foreign banks or companies that control a foreign bank as those terms are defined in the International Banking Act of 1978 [12 U.S.C. 3101 et seq.]. The term “banking institution” shall not include a foreign bank.

(Pub. L. 98–181, title I [title IX, § 903], Nov. 30, 1983, 97 Stat. 1278.)

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