Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this subpart: (a) (b) (c) (1) Is organized under the laws of a foreign country; (2) Engages in the business of banking; (3) Is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations; (4) Receives deposits to a substantial extent in the regular course of its business; and (5) Has the power to accept demand deposits. (d) (e)

official document · source cfr-2024 · id 12:§ 28.2