- acquire
means to acquire, directly or indirectly, ownership or control through—
- activity
includes acquiring or retaining any investment.
- adequately capitalized
has the same meaning as in section 1831o of this title.
- affiliate
has the meaning given the term in section 1841 of this title.
- affiliated insured bank
means—
- 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.
- agent institution
means an insured depository institution that places a covered deposit through a deposit placement network at other insured depository institutions in amounts that are less than or equal to the standard maximum deposit insurance amount, specifying the interest rate to be paid for such amounts, if the insured depository institution—
- agricultural bank
means a bank—
- antitrust laws
means the Act of July 2, 1890 (the Sherman Antitrust Act), the Act of October 15, 1914 (the Clayton Act), and any other Acts in pari materia.
- appropriate Federal banking agency
means— Under the rule set forth in this subsection, more than one agency may be an appropriate Federal banking agency with respect to any given institution.
- appropriate Federal financial institutions regulatory agency
means—
- appropriate State
means the State to which notice was mailed under paragraph (1)(C), except that if the notice was not mailed to an address that is within a State it shall mean the State in which the depository institution in default has its main office;
- bank holding company
has the meaning given to such term in section 1841 of this title.
- Bank Insurance Fund member
means any depository institution the deposits of which are insured by the Bank Insurance Fund.
- Bank Insurance Fund reserve ratio
means the ratio of the net worth of the Bank Insurance Fund to the value of the aggregate estimated insured deposits held in all Bank Insurance Fund members.
- benefit-responsive withdrawals or transfers
means any withdrawal or transfer of funds (consisting of any portion of the principal and any interest credited at a rate guaranteed by the insured depository institution investment contract) during the period in which any guaranteed rate is in effect, without substantial penalty or adjustment, to pay benefits provided by the employee benefit plan or to permit a plan participant or beneficiary to redirect the investment of his or her account balance.
- Board
means the Board of Governors of the Federal Reserve System.
- Board of Directors
means the Board of Directors of the Corporation.
- branch
means any domestic branch.
- bridge depository institution
means a new national bank or Federal savings association organized by the Corporation in accordance with section 1821(n) of this title.
- Bureau
means the Bureau of Consumer Financial Protection.
- business day
means any day other than any Saturday, Sunday, or any day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed.
- capital distribution
means—
- capital restoration plan
means a plan submitted under subsection (e)(2).
- capital standards
has the same meaning as in section 1831o(c) of this title;
- clearing organization
has the same meaning as in section 4402 of this title.
- clearinghouse
means—
- Commission
means the Securities and Exchange Commission.
- commodity contract
means—
- community development bank
means any depository institution (as defined in section 1813(c)(1) of this title).
- community development financial institution
has the same meaning as in section 4702(5) of this title.
- community development organization
means any community development bank, community development corporation, community development unit within any insured depository institution, or community development credit union.
- company
has the same meaning as in section 1841(b) of this title.
- compensation
includes any payment of money or provision of any other thing of value in consideration of employment.
- Comptroller
means the Comptroller of the Currency.
- consent application
means an application filed with Corporation 2 by an individual (or by an insured depository institution or depository institution holding company on behalf of an individual) seeking the written consent of the Corporation under subsection (a)(1).
- control
means the power, directly or indirectly, to direct the management or policies of an insured depository institution or to vote 25 per centum or more of any class of voting securities of an insured depository institution.
- cooperative agreement
means a written agreement that is signed by the home State bank supervisor and the host State bank supervisor to facilitate State regulatory supervision of State banks, and includes nationwide or multi-State cooperative agreements and cooperative agreements solely between the home State and host State.
- Corporation
means the Federal Deposit Insurance Corporation.
- covered agency
means any of the following:
- covered company
means any depository institution holding company (including any company required to file a report under section 1843(f)(6) of this title), or any other company that controls an insured depository institution.
- covered deposit
means a deposit that—
- covered depository institution
means an insured depository institution that—
- covered insured depository institution
means an insured depository institution that—
- credit outstanding
includes—
- 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:
- de novo branch
means a branch of a State bank which—
- deal in
includes making, taking, buying, selling, redeeming, or collecting.
- default
means a failure to comply with the terms of a loan or other obligation to such an extent that the property securing the obligation is foreclosed upon.
- deposit
means—
- deposit broker
means—
- Deposit Insurance Fund
means the Deposit Insurance Fund established under section 1821(a)(4) of this title.
- 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.
- depository institution
includes an uninsured branch or agency of a foreign bank, if such branch or agency is located in any State;
- depository institution holding company
includes any foreign bank or company described in section 3106(a) of this title.
- designated reserve ratio
means the reserve ratio designated by the Board of Directors in accordance with section 1817(b)(3) of this title.
- domestic branch
includes any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State of the United States or in any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands at which deposits are received or checks paid or money lent.
- 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:
- economically depressed region
means any geographical region which the Corporation determines by regulation to be a region within which real estate values have suffered serious decline due to severe economic conditions, such as a decline in energy or agricultural values or prices.
- eligible commercial real property
means any property (i) to which the Corporation acquires title, and (ii) that the Corporation, in the discretion of the Corporation, determines is suitable for use for the location of offices or other administrative functions involved with carrying out a program referred to in paragraph (1)(B).
- eligible condominium property
means a condominium unit, as such term is defined in section 3603 of title 15—
- 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—
- eligible insured depository institution
means any insured depository institution that—
- eligible multifamily housing property
means a property consisting of more than 4 dwelling units—
- eligible residential property
includes eligible single family properties and eligible multifamily housing properties.
- eligible single family property
means a 1- to 4-family residence (including a manufactured home)—
- employee
means any employee—
- employee benefit plan
has the same meaning as in paragraph (5)(B)(ii), and includes any eligible deferred compensation plan described in section 457 of title 26.
- employee of the Corporation
includes any employee of the Office of the Comptroller of the Currency or of the Consumer Financial Protection Bureau who serves as a deputy or assistant to a member of the Board of Directors of the Corporation in connection with activities of the Corporation.
- Federal bank secrecy laws
means—
- Federal banking agencies
has the same meaning as in section 1813 of this title;
- Federal banking agency
means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation.
- Federal branch
has the meaning given to such term by section 1(b)(6) of the International Banking Act of 1978 [12 U.S.C. 3101(b)(6)].
- Federal depository institution
means any national bank, any Federal savings association, and any Federal branch.
- Federal savings association
means any Federal savings association or Federal savings bank which is chartered under section 1464 of this title.
- final determination
means the transmittal of a report of examination to the bank or transmittal of official notice of proceedings to the bank.
- 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)).
- financial institution
means—
- financial product or service
has the meaning given the term in section 5481 of this title.
- financial subsidiary
has the meaning given the term in section 24a(g) of this title.
- foreign bank
has the same meaning as in section 3101(7) of this title.
- foreign branch
means any office or place of business located outside the United States, its territories, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands, at which banking operations are conducted.
- forward contract
means—
- fulfillment
means a list of factors that the appropriate Federal banking agency determines have a material impact on the agency’s decision—
- functionally regulated affiliate
means, with respect to any depository institution, any affiliate of such depository institution that is—
- functionally regulated subsidiary
has the same meaning as in section 1844(c)(5) 1 of this title.
- golden parachute payment
means any payment (or any agreement to make any payment) in the nature of compensation by any insured depository institution or covered company for the benefit of any institution-affiliated party pursuant to an obligation of such institution or covered company that—
- government depositor
means a depositor that is—
- Government-sponsored enterprise
has the meaning given to such term in section 1404(e)(1)(A) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
- group of persons
includes any number of persons that the foreign bank or any affiliate thereof reasonably believes—
- home State
means the State by which a State bank is chartered.
- 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.
- in danger of default
means an insured depository institution with respect to which (or in the case of a foreign bank having an insured branch, with respect to such insured branch) the appropriate Federal banking agency or State chartering authority has advised the Corporation (or, if the appropriate Federal banking agency is the Corporation, the Corporation has determined) that—
- in-State depository institution or in-State holding company
means an existing insured depository institution currently operating in the State in which the bank in default or the bank in danger of default is chartered or a company that is operating an insured depository institution subsidiary in the State in which the bank in default or the bank in danger of default is chartered;
- indemnification payment
means any payment (or any agreement to make any payment) by any insured depository institution or covered company for the benefit of any person who is or was an institution-affiliated party, to pay or reimburse such person for any liability or legal expense with regard to any administrative proceeding or civil action instituted by the appropriate Federal banking agency which results in a final order under which such person—
- 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).
- 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).
- ineligible residential property
includes ineligible single family properties, ineligible multifamily housing properties, and ineligible condominium properties.
- 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).
- institution-affiliated party
means—
- insured bank
means any bank (including a foreign bank having an insured branch) the deposits of which are insured in accordance with the provisions of this chapter;
- insured branch
means any branch (as defined in section 1(b)(3) of the International Banking Act of 1978 [12 U.S.C. 3101(b)(3)]) of a foreign bank any deposits in which are insured pursuant to this chapter.
- insured credit union
has the meaning given the term in section 1752 of this title.
- insured deposit
means an insured deposit as defined in paragraph (1) of this subsection which—
- insured depository institution
has the meaning given the term in section 1813 of this title.
- interstate bank
means a bank which maintains branches in more than 1 State.
- 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).
- interstate merger transaction
means a merger transaction involving 2 or more insured depository institutions that have different home States and that are not affiliates;
- investment portfolio
shall mean all investments shown on the consolidated balance sheet of the Association other than—
- lead insured depository institution
has the same meaning as in section 1841(o)(8) 1 of this title.
- liability or legal expense
means—
- 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.
- liquid and readily-marketable
has the meaning given the term in section 249.3 of title 12, Code of Federal Regulations, or any successor thereto;
- 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—
- 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.
- low- and moderate-income persons
has the meaning given such term in section 5302(a)(20) of title 42.
- low- or moderate-income area
means a census tract for which the median family income is—
- 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.
- lower income
means income that is less than or equal to the median income based on statistics from State or Federal sources.
- material loss
means any estimated loss in excess of—
- merger transaction
has the meaning determined under section 1828(c)(3) of this title.
- minority
means any Black American, Native American, Hispanic American, or Asian American.
- minority bank
means any depository institution described in clause (i), (ii), or (iii) of section 461(b)(1)(A) of this title—
- municipal obligation
means an obligation of—
- mutual savings bank
means a bank without capital stock transacting a savings bank business, the net earnings of which inure wholly to the benefit of its depositors after payment of obligations for any advances by its organizers.
- national member bank
means any national bank which is a member of the Federal Reserve System.
- national nonmember bank
means any national bank which—
- 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.
- network member bank
means an insured depository institution that is a member of a deposit placement network.
- new depository institution
means a new national bank or Federal savings association, other than a bridge depository institution, organized by the Corporation in accordance with section 1821(m) of this title.
- noninsured bank
means any bank the deposits of which are not so insured.
- nonprofit organization
means a private organization (including a limited equity cooperative)—
- obligation
includes—
- online service
means any Internet-based service, such as a website or mobile application.
- other capital measures
has the meaning as in section 1831o(c) of this title;
- out-of-State bank
means, with respect to any State, a bank whose home State is another State.
- out-of-State bank holding company
means, with respect to any State, a bank holding company whose home State is another State.
- pass-through deposit insurance
means, with respect to an employee benefit plan, deposit insurance coverage based on the interest of each participant, in accordance with regulations issued by the Corporation.
- payment
includes—
- person
means an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein;
- 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.
- 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).
- plan
has the meaning given the term in section 1002 of title 29.
- plan administrator
has the meaning given the term “administrator” in section 1002 of title 29.
- preferred deposits
means deposits of any public unit (as defined in paragraph (1)) at any insured depository institution which are secured or collateralized as required under State law.
- pretrial diversion or similar program
means a program characterized by a suspension or eventual dismissal or reversal of charges or criminal prosecution upon agreement by the accused to restitution, drug or alcohol rehabilitation, anger management, or community service.
- private deposit insurer
means any entity insuring the deposits of any depository institution lacking Federal deposit insurance.
- privilege
includes any work-product, attorney-client, or other privilege recognized under Federal or State law.
- public agency
means any Federal, State, local, or other governmental entity, and includes any public housing agency.
- qualified affiliate
means—
- qualified agricultural loan
means a loan made to finance the production of agricultural products or livestock in the United States, a loan secured by farmland or farm machinery, or such other category of loans as the appropriate Federal banking agency may deem eligible.
- qualified distressed community
means any neighborhood or community which—
- qualified financial contract
means any securities contract, commodity contract, forward contract, repurchase agreement, swap agreement, and any similar agreement that the Corporation determines by regulation, resolution, or order to be a qualified financial contract for purposes of this paragraph.
- qualified foreign government security
means a security that is a direct obligation of, or that is fully guaranteed by, the central government of a member of the Organization for Economic Cooperation and Development (as determined by regulation or order adopted by the appropriate Federal banking authority).Such term is applicable for purposes of this subsection only and shall not be construed or applied so as to challenge or affect the characterization, definition, or treatment of any swap agreement under any other statute, regulation, or rule, including the Gramm-Leach-Bliley Act, the Legal Certainty for Bank Products Act of 2000 [7 U.S.C. 27 to 27f], the securities laws (as such term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 [15 U.S.C. 78c(a)(47)]) and the Commodity Exchange Act [7 U.S.C. 1 et seq.].
- qualified housing project
means residential real estate that is intended to primarily benefit lower income people throughout the period of the investment.
- qualified note
means any note that—
- qualifying household
means a household—
- qualifying multifamily purchaser
means—
- 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.
- receiver
includes a receiver, liquidating agent, conservator, commission, person, or other agency charged by law with the duty of winding up the affairs of a bank or savings association or of a branch of a foreign bank.
- reciprocal deposits
means deposits received by an agent institution through a deposit placement network with the same maturity (if any) and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks.
- recourse
has the meaning given to such term under generally accepted accounting principles;
- registered investment company
means an investment company that is registered with the Commission under the Investment Company Act of 1940 [15 U.S.C. 80a–1 et seq.].
- relevant capital measure
means the measures described in subsection (c).
- relevant depository institution
means any depository institution of which the party is or was an institution-affiliated party at the time at which—
- 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.
- responsible agency
means the agency determined in accordance with section 1828(c)(2) of this title with respect to a merger transaction.
- resulting bank
means a bank that has resulted from an interstate merger transaction under this section.
- risk-based assessment system
means a system for calculating a depository institution’s assessment based on—
- savings and loan holding company
has the meaning given to such term in section 1467a of this title.
- savings association
means—
- Savings Association Insurance Fund member
means any depository institution the deposits of which are insured by the Savings Association Insurance Fund.
- Savings Association Insurance Fund reserve ratio
means the ratio of the net worth of the Savings Association Insurance Fund to the value of the aggregate estimated insured deposits held in all Savings Association Insurance Fund members.
- savings bank
means a bank (including a mutual savings bank) which transacts its ordinary banking business strictly as a savings bank under State laws imposing special requirements on such banks governing the manner of investing their funds and of conducting their business.
- 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).
- 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.
- Secretary
means the Secretary of the Treasury.
- senior executive officer
has the same meaning as in regulations prescribed under section 1831i(f) of this title.
- 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;
- 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.
- standard maximum deposit insurance amount
means $250,000, adjusted as provided under subparagraph (F) after March 31, 2010.
- 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.
- State bank
means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which— including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
- State bank supervisor
means any officer, agency, or other entity of any State which has primary regulatory authority over State banks or State savings associations in such State.
- State depository institution
means any State bank, any State savings association, and any insured branch which is not a Federal branch.
- 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.
- State member bank
means any State bank which is a member of the Federal Reserve System.
- State nonmember bank
means any State bank which is not a member of the Federal Reserve System.
- State savings association
means— which is organized and operating according to the laws of the State (as defined in subsection (a)(3)) in which it is chartered or organized.
- State supervisory fees
means assessments, examination fees, branch fees, license fees, and all other fees that are levied or charged by a State bank supervisor directly upon an insured State bank or upon branches of an insured State bank.
- statutorily prescribed amount
means, with respect to any calendar year which ends after August 9, 1989—
- subordinated debt
means debt subordinated to the claims of general creditors.
- subsidiary
has the meaning given to such term in section 1841(d) of this title.
- swap agreement
means—
- transfer
means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with property or with an interest in property, including retention of title as a security interest and foreclosure of the depository institution’s equity of redemption.
- transferee institution
means the insured depository institution in which the Corporation has made available a transferred deposit pursuant to section 1821(f)(1) of this title;
- transferred deposit
means a deposit in a new bank or other insured depository institution made available to a depositor by the Corporation as payment of the insured deposit of such depositor in a closed bank, and assumed by such new bank or other insured depository institution.
- trust funds
means funds held by an insured depository institution in a fiduciary capacity and includes, without being limited to, funds held as trustee, executor, administrator, guardian, or agent.
- uninsured deposit
means the amount of any deposit of any depositor at any insured depository institution in excess of the amount of the insured deposits of such depositor (if any) at such depository institution.
- United States deposit
means an insured or transferred deposit for which the deposit records of the depository institution in default disclose that title to the deposit is held by the United States, any department, agency, or instrumentality of the Federal Government, or any officer or employee thereof in such person’s official capacity.