Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this subpart: (a) (1) Any insured depository institution; (2) Any company that controls an insured depository institution; (3) Any company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978; and (4) Any affiliate or subsidiary of any of the foregoing entities. (b) (c) (1) All or substantially all of the deposits of such institution are in trust funds and are received in a bona fide fiduciary capacity; (2) No deposits of such institution which are insured by the Federal Deposit Insurance Corporation are offered or marketed by or through an affiliate of such institution; (3) Such institution does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others or make commercial loans; and (4) Such institution does not— (i) Obtain payment or payment related services from any Federal Reserve bank, including any service referred to in section 11A of the Federal Reserve Act (12 U.S.C. 248a); or (ii) Exercise discount or borrowing privileges pursuant to section 19(b)(7) (d) (e) (f) (1) As of May 1, 2010— (i) Was principally invested in illiquid assets; or (ii) Was invested in, and contractually committed to principally invest in, illiquid assets; and (2) Makes all investments pursuant to, and consistent with, an investment strategy to principally invest in illiquid assets. (g) (1) Is not a liquid asset; (2) Because of statutory or regulato

official document · source cfr-2024 · id 12:§ 225.180