Definitions.

CFR · 2024-01-01 · US · Title 12

The terms used in this part have the meanings given them in section 3(a) of the Act or as defined in this section as follows: (1) For banks: (i) Any bank holding company of which a bank is a subsidiary within the meaning of the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841(d)); (ii) Any other subsidiary of such bank holding company; and (iii) Any other corporation, business trust, association, or other similar organization that is an affiliate as defined in section 2(b) of the Banking Act of 1933 (12 U.S.C. 221a(c)); (2) For nonbank lenders, (i) Any subsidiary of a bank; (ii) Any corporation organized under section 25(a) of the Federal Reserve Act (12 U.S.C. 611); and (iii) Any agency or branch of a foreign bank located within the United States. (2) (i) Any savings and loan association; (ii) Any credit union; (iii) Any lending institution that is an instrumentality or agency of the United States; or (iv) Any member of a national securities exchange. (1) A security means: (i) If quotations are available, the closing sale price of the security on the preceding business day, as appearing on any regularly published reporting or quotation service; or (ii) If there is no closing sale price, the lender may use any reasonable estimate of the market value of the security as of the close of business on the preceding business day; or (iii) If the credit is used to finance the purchase of the security, the total cost of purchase, which may include any commissions charged.

official document · source cfr-2024 · id 12:§ 221.2