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1000 - Federal Deposit Insurance Act
SEC. 3.DEFINITIONS
(a)Definitions of Bank and Related Terms.--
(1)BANK.--The term "bank"--
(A)means any national bank and State bank, and any Federalbranch and insured branch; and
(B)includes any former savings association.
(2)STATE BANK.--The term "State bank" means anybank, banking association, trust company, savings bank, industrial bank(or similar depository institution which the Board of Directors findsto be operating substantially in the same manner as an industrialbank), or other banking institution which--
(A)is engaged in the business of receiving deposits, other thantrust funds (as defined in this section); and
(B)is incorporated under the laws of any State or which isoperating under the Code of Law for the District of Columbia, includingany cooperative bank or other unincorporated bank the deposits of whichwere insured by the Corporation on the day before August 9, 1989.
(3)STATE.--The term "State" means any State ofthe United States, the District of Columbia, any territory of theUnited States, Puerto Rico, Guam, American Samoa, the Trust Territoryof the Pacific Islands, the Virgin Islands, and the Northern MarianaIslands.
[Codified to 12 U.S.C. 1813(a)]
[Source:Section 2[3(a)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 873), effective September 21, 1950, as amended bysection 3(a) of the Act of August 1, 1956 (Pub. L. No. 896; 70 Stat.908), effective August 1, 1956; section 910(a) of title IX of the Actof December 31, 1970 (Pub. L. No. 91--609; 84 Stat. 1811), effectiveDecember 31, 1970; section 103 of title I of the Act of December 26,1981 (Pub. L. No. 97--110; 95 Stat. 1513), effective December 26, 1981;section 703(a) of title VII of the Act of October 15, 1982 (Pub. L. No.97--320; 96 Stat. 1538), effective October 15, 1982; and section 204(a)of title II of the Act of August 9, 1989 (Pub. L. No. 101--73; 103 Stat190), effective August 9, 1989; section 8(a)(1)(A) of the Act ofOctober 30, 2004 (Pub. L. No. 108-386; 118 Stat. 2231, effectiveOctober 30, 2004; section 8(a)(1) of the Act of February 15, 2006 (Pub.L. No. 109--173; 119 Stat. 3610), effective date shall take effect onthe day of the merger of the Bank Insurance Fund and the SavingsAssociation Insurance Fund pursuant to the Federal Deposit InsuranceReform Act of 2005; section 123(d) of title I of the Act of October 16,2006 (Pub. L. No. 109--356; 120 Stat. 2029; section 725(d) of title VIIof the Act of October 13, 2006 (Pub. L. No. 109--351; 120 Stat.2002]
(b)Definition of Savings Associations and Related Terms.
(1)SAVINGS ASSOCIATION.--The term "savingsassociation" means--
(A)any Federal savings association;
(B)any State savings association; and
(C)any corporation (other than a bank) that the Board ofDirectors and the Comptroller of the Currency jointly determine to beoperating in substantially the same manner as a savings association.
(2)FEDERAL SAVINGS ASSOCIATION.--The term "Federalsavings association" means any Federal savings association orFederal savings bank which is chartered undersection 1464 of this title.
(3)STATE SAVINGS ASSOCIATION.--The term "Statesavings association" means--
(A)any building and loan association, savings and loanassociation, or homestead association; or
(B)any cooperative bank (other than a cooperative bank which isa State bank as defined in subsection (a)(2) of this section),
which is organized and operating according to the laws of the State(as defined in subsection (a)(3) of this section) in which it ischartered or organized.
[Codified to 12 U.S.C. 1813(b)]
[Source:Section 2[3(b)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 873), effective September 21, 1950, as amended bysection 204(b) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 190), effective August 9, 1989; section 363(1)(A) oftitle III of the Act of July 21, 2010 (Pub. L. No. 111--203; 124 Stat.1550), effective July 21, 2010]
(c)Definitions Relating to Depository Institutions.--
(1)DEPOSITORY INSTITUTION.--The term "depositoryinstitution" means any bank or savings association.
(2)INSURED DEPOSITORY INSTITUTION.--The term"insured depository institution" means any bank or savingsassociation the deposits of which are insured by the Corporationpursuant to this Act.
(3)INSTITUTIONS INCLUDED FOR CERTAIN PURPOSES.--Theterm "insured depository institution" includes any uninsuredbranch or agency of a foreign bank or a commercial lending companyowned or controlled by a foreign bank for purposes of section 8 of thisAct.
(4)FEDERAL DEPOSITORY INSTITUTION.--The term"Federal depository institution" means any national bank, anyFederal savings association, and any Federal branch.
(5)STATE DEPOSITORY INSTITUTION.--The term "Statedepository institution" means any State bank, any State savingsassociation, and any insured branch which is not a Federal branch.
[Codified to 12 U.S.C. 1813(c)]
[Source:Section 2[3(c)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 873), effective September 21, 1950, as amended bysection 204(c) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 191), effective August 9,1989]
(d)Definitions Relating to Member Banks.--
(1)NATIONAL MEMBER BANK.--The term "national memberbank" means any national bank which is a member of the FederalReserve System.
(2)STATE MEMBER BANK.--The term "State memberbank" means any State bank which is a member of the Federal ReserveSystem.
[Codified to 12 U.S.C. 1813(d)]
[Source:Section 2[3(d)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21, 1950, as amended bysection 3(b) of the Act of August 1, 1956 (Pub. L. No. 896; 70 Stat.908), effective August 1, 1956; section 910(b) of title IX of the Actof December 31, 1970 (Pub. L. No. 91--609; 84 Stat. 1811), effectiveDecember 31, 1970; and section 204(d) of title II of the Act of August9, 1989 (Pub. L. No. 101--73; 103 Stat. 191), effective August 9,1989]
(e)Definitions Relating to Nonmember Banks.--
(1)NATIONAL NONMEMBER BANK.--The term "nationalnonmember bank" means any national bank which--
(A)is located in any territory of the United States, PuertoRico, Guam, American Samoa, the Virgin Islands, or the Northern MarianaIslands; and
(B)is not a member of the Federal Reserve System.
(2)STATE NONMEMBER BANK.--The term "State nonmemberbank" means any State bank which is not a member of the FederalReserve System.
[Codified to 12 U.S.C. 1813(e)]
[Source:Section 2[3(e)] of the Act of September 21,1950 (Pub. L. No. 797; 64 Stat. 874), effective September 21, 1950, asamended by section 3(b) of the Act of August 1, 1956 (Pub. L. No. 896;70 Stat. 908), effective August 1, 1956; section 910(c) of title IX ofthe Act of December 31, 1970 (Pub. L. No. 91--609; 84 Stat. 1811),effective December 31, 1970; and section 204(e) of title II of the Actof August 9, 1989 (Pub. L. No. 101--73; 103 Stat. 191), effectiveAugust 9, 1989]
(f)Mutual Savings Bank.--The term "mutual savingsbank" means a bank without capital stock transacting a savings bankbusiness, the net earnings of which inure wholly to the benefit of itsdepositors after payment of obligations for any advances by itsorganizers.
[Codified to 12 U.S.C. 1813(f)]
[Source:Section 2[3(f)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21,1950]
(g)Savings Bank.--The term "savings bank" means abank (including a mutual savings bank) which transacts its ordinarybanking business strictly as a savings bank under State laws imposingspecial requirements on such banks governing the manner of investingtheir funds and of conducting their business.
[Codified to 12 U.S.C. 1813(g)]
[Source:Section 2[3(g)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21, 1950, as amended bysection 101(g) of title I of the Act of August 10, 1987 (Pub. L. No.100--86; 101 Stat. 563), effective August 10, 1987]
(h)Insured Bank.--The term "insured bank" means anybank (including a foreign bank having an insured branch) the depositsof which are insured in accordance with the provisions of this Act; andthe term "noninsured bank" means any bank the deposits of whichare not so insured.
[Codified to 12 U.S.C. 1813(h)]
[Source:Section 2[3(h)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21, 1950, as amended bysection 6(c)(2) of the Act of September 17, 1978 (Pub. L. No. 95--369;92 Stat. 614), effective September 17, 1978]
(i) New Depository Institution and Bridge DepositoryInstitution Defined.
(1)NEW DEPOSITORY INSTITUTION.--The term "newdepository institution" means a new national bank or Federal savingsassociation, other than a bridge depository institution, organized bythe Corporation in accordance withsection 11(m).
(2)BRIDGE DEPOSITORY INSTITUTION.--The term "bridgedepository institution" means a new national bank or Federal savingsassociation organized by the Corporation in accordance withsection 11(n).
[Codified to 12 U.S.C. 1813(i)]
[Source:Section 2[3(i)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21, 1950, as amended bysection 503(b) of title V of the Act of August 10, 1987 (Pub. L. No.100--86; 101 Stat. 632), effective August 10, 1987; section 1606(g)(2)of title XVI of the Act of October 28, 1992 (Pub. L. No. 102--550; 106Stat. 4089), effective October 28, 1992; section 602(a)(1)(A) of titleVI of the Act of September 23, 1994 (Pub. L. No. 103--325; 108 Stat.2288), effective September 23, 1994; section 1604(b)(1)(A) of title VIIof the Act of July 30, 2008 (Pub. L. No. 110--289; 122 Stat, 2829),effective July 30, 2008]
(j)Receiver.--The term "receiver" includes areceiver, liquidating agent, conservator, commission, person, or otheragency charged by law with the duty of winding up the affairs of a bankor savings association or of a branch of a foreign bank.
[Codified to 12 U.S.C. 1813(j)]
[Source:Section 2[3(j)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21, 1950, as amended bysection 6(c)(3) of the Act of September 17, 1978 (Pub. L. No. 95--369;92 Stat. 614), effective September 17, 1978; and section 204(f)(1) oftitle II of the Act of August 9, 1989 (Pub. L. No. 101--73; 103 Stat.191), effective August 9, 1989]
(k)Board of Directors.--The term "Board ofDirectors" means the Board of Directors of the Corporation.
[Codified to 12 U.S.C. 1813(k)]
[Source:Section 2[3(k)] of the Act of September 21,1950 (Pub. L. No. 797; 64 Stat. 874), effective September 21,1950]
(l)Deposit.--The term "deposit" means--
(1)the unpaid balance of money or its equivalent received orheld by a bank or savings association in the usual course of businessand for which it has given or is obligated to give credit, eitherconditionally or unconditionally, to a commercial, checking, savings,time, or thrift account, or which is evidenced by its certificate ofdeposit, thrift certificate, investment certificate, certificate ofindebtedness, or other similar name, or a check or draft drawn againsta deposit account and certified by the bank or savings association, ora letter of credit or a traveler's check on which the bank or savingsassociation is primarily liable: Provided, That, withoutlimiting the generality of the term "money or its equivalent",any such account or instrument must be regarded as evidencing thereceipt of the equivalent of money when credited or issued in exchangefor checks or drafts or for a promissory note upon which the personobtaining any such credit or instrument is primarily or secondarilyliable, or for a charge against a deposit account, or in settlement ofchecks, drafts, or other instruments forwarded to such bank or savingsassociation for collection,
(2)trust funds as defined in this Act received or held by suchbank or savings association, whether held in the trust department orheld or deposited in any other department of such bank or savingsassociation,
(3)money received or held by a bank or savings association, orthe credit given for money or its equivalent received or held by a bankor savings association, in the usual course of business for a specialor specific purpose, regardless of the legal relationship therebyestablished, including without being limited to, escrow funds, fundsheld as security for an obligation due to the bank or savingsassociation or others (including funds held as dealers reserves) or forsecurities loaned by the bank or savings association, funds depositedby a debtor to meet maturing obligations, funds deposited as advancepayment on subscriptions to United States Government securities, fundsheld for distribution or purchase of securities, funds held to meet itsacceptances or letters of credit, and withheld taxes: Provided,That there shall not be included funds which are received by thebank or savings association for immediate application to the reductionof an indebtedness to the receiving bank or savings association, orunder condition that the receipt thereof immediately reduces orextinguishes such an indebtedness,
(4)outstanding draft (including advice or authorization tocharge a bank's or a savings association's balance in another bank orsavings association), cashier's check, money order, or other officer'scheck issued in the usual course of business for any purpose, includingwithout being limited to those issued in payment for services,dividends, or purchases, and
(5)such other obligations of a bank or savings association asthe Board of Directors, after consultation with the Comptroller of theCurrency, and the Board of Governors of the Federal Reserve System,shall find and prescribe by regulation to be deposit liabilities bygeneral usage, except that the following shall not be a deposit for anyof the purposes of this Act or be included as part of the totaldeposits or of an insured deposit:
(A)any obligation of a depository institution which is carriedon the books and records of an office of such bank or savingsassociation located outside of any State, unless--
(i)such obligation would be a deposit if it were carried on thebooks and records of the depository institution, and would be payableat, an office located in any State; and
(ii)the contract evidencing the obligation provides by expressterms, and not by implication, for payment at an office of thedepository institution located in any State;
(B)any international banking facility deposit, including aninternational banking facility time deposit, as such term is from timeto time defined by the Board of Governors of the Federal Reserve Systemin regulation D or any successor regulation issued by the Board ofGovernors of the Federal Reserve System; and
(C)any liability of an insured depository institution thatarises under an annuity contract, the income of which is tax deferredunder section 72 of the Internal Revenue Code of1986.*
[Codified to 12 U.S.C. 1813(l)]
[Source:Section 2[3(l)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 874), effective September 21, 1950, as amended bythe Act of July 14, 1952 (Pub. L. No. 533; 66 Stat. 605), effectiveJuly 14, 1952; section 3(c) of the Act of August 1, 1956 (Pub. L. No.896; 70 Stat. 908), effective August 1, 1956; section 1 of the Act ofJuly 14, 1960 (Pub. L. No. 86--671; 74 Stat. 546), effective January 1,1961; section 910(d) of title IX of the Act of December 31, 1970 (Pub.L. No. 91--609; 84 Stat. 1811), effective December 31, 1970; section102 of title I of the Act of December 26, 1981 (Pub. L. No. 97--110; 95Stat. 1513), effective December 26, 1981; section 703(b) of title VIIof the Act of October 15, 1982 (Pub. L. No. 97--320; 96 Stat. 1539),effective October 15, 1982; section 204(f)(2) of title II of the Act ofAugust 9, 1989 (Pub. L. No. 101--73; 103 Stat. 191), effective August9, 1989; section 326(b)(2) of title III and section 602(a)(1)(B) oftitle VI of the Act of September 23, 1994 (Pub. L. No. 103--325; 108Stat. 2229 and 2288, respectively), effective September 23, 1994;section 2614(a) of title II of the Act of September 30, 1996 (Pub. L.No. 104--208; 110 Stat. 3009--478), effective September 30, 1996;section 363(1)(B) of title III of the Act of July 21, 2010 (Pub. L. No.111--203; 124 Stat. 1550), effective July 21, 2010]
(m) Insured Deposit.--
(1)IN GENERAL.--Subject to paragraph (2), the term"insured deposit" means the net amount due to any depositor fordeposits in an insured depository institution as determined undersections 7(i) and11(a).
(2)In the case of any deposit in a branch of a foreign bank, theterm "insured deposit" means an insured deposit as defined inparagraph (1) of this subsection which--
(A)is payable in the United States to--
(i)an individual who is a citizen or resident of the UnitedStates,
(ii)a partnership, corporation, trust, or other legallycognizable entity created under the laws of the United States or anyState and having its principal place of business within the UnitedStates or any State, or
(iii)an individual, partnership, corporation, trust, or otherlegally cognizable entity which is determined by the Board of Directorsin accordance with its regulations to have such business or financialrelationships in the United States as to make the insurance of suchdeposit consistent with the purposes of this Act; and
(B)meets any other criteria prescribed by the Board of Directorsby regulation as necessary or appropriate in its judgment to carry outthe purposes of this Act or to facilitate the administration thereof.
(3)UNINSURED DEPOSITS.--The term "uninsureddeposit" means the amount of any deposit of any depositor at anyinsured depository institution in excess of the amount of the insureddeposits of such depositor (if any) at such depository institution.
(4)PREFERRED DEPOSITS.--The term "preferreddeposits" means deposits of any public unit (as defined in paragraph(1)) at any insured depository institution which are secured orcollateralized as required under State law.
[Codified to 12 U.S.C. 1813(m)]
[Source:Section 2[3(m)] of the Act of September 21, 1950(Pub. L. No. 797; 64 Stat. 875), effective September 21, 1950, asamended by section 3(d) of the Act of August 1, 1956 (Pub. L. No. 896;70 Stat. 908), effective August 1, 1956; sections 301(a) and 303(a) oftitle III of the Act of October 16, 1966 (Pub. L. No. 89--695; 80 Stat.1055, 1056), effective October 16, 1966; section 7(a)(1) of title I ofthe Act of December 23, 1969 (Pub. L. No. 91--151; 83Stat.375), effective December 23, 1969; section910(e) of title IX of the Act of December 31, 1970 (Pub. L. No.91--609; 84 Stat. 1812), effective December 31, 1970; sections101(a)(1) and 102(a)(1) of title I of the Act of October 28, 1974 (Pub.L. No. 93--495; 88 Stat. 1500, 1502), effective November 27, 1974;section 6(c)(4) of the Act of September 17, 1978 (Pub. L. No. 95--369;92 Stat. 614), effective September 17, 1978; section 308 of title IIIof the Act of March 31, 1980 (Pub. L. No. 96--221; 94 Stat. 147),effective March 31, 1980; section 103 of title I of the Act of December26, 1981 (Pub. L. No. 97--110; 95 Stat. 1513), effective December 26,1981; sections 201(a) and 204(f)(3) of title II of the Act of August 9,1989 (Pub. L. No. 101--73; 103 Stat. 187 and 192), effective August 9,1989; section 141(f) of title I and section 311(b)(5)(A) of title IIIof the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2278and 2366, respectively), effective December 19,1991]
(n)Transferred Deposit.--The term "transferreddeposit" means a deposit in a new bank or other insured depositoryinstitution made available to a depositor by the Corporation as paymentof the insured deposit of such depositor in a closed bank, and assumedby such new bank or other insured depository institution.
[Codified to 12 U.S.C. 1813(n)]
[Source:Section 2[3(n)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 875), effective September 21, 1950, as amended bysection 201(a) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 187), effective August 9,1989]
(o)Domestic Branch.--The term "domestic branch"includes any branch bank, branch office, branch agency, additionaloffice, or any branch place of business located in any State of theUnited States or in any Territory of the United States, Puerto Rico,Guam, American Samoa, the Trust Territory of the Pacific Islands, orthe Virgin Islands at which deposits are received or checks paid ormoney lent. The term "domestic branch" does not include anautomated teller machine or a remote service unit. The term "foreignbranch" means any office or place of business located outside theUnited States, its territories, Puerto Rico, Guam, American Samoa, theTrust Territory of the Pacific Islands, or the Virgin Islands, at whichbanking operations are conducted.
[Codified to 12 U.S.C. 1813(o)]
[Source:Section 2[3(o)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 875), effective September 21, 1950, as amended bysection 3(b) of the Act of August 1, 1956 (Pub. L. No. 896; 70 Stat.908), effective August 1, 1956; section 910(f) of title IX of the Actof December 31, 1970 (Pub. L. No. 91--609; 84 Stat. 1812), effectiveDecember 31, 1970; section 301(a) of title III of the Act of November10, 1978 (Pub. L. No. 95--630; 92 Stat. 3675), effective March 10,1979; section 103 of title I of the Act of December 26, 1981 (Pub. L.No. 97--110; 95 Stat. 1514), effective December 26, 1981; section2205(b) of title II of the Act of September 30, 1996 (Pub. L. No.104--208; 110 Stat. 3009--405), effective September 30,1996]
(p)Trust Funds.--The term "trust funds" means fundsheld by an insured depository institution in a fiduciary capacity andincludes, without being limited to, funds held as trustee, executor,administrator, guardian, or agent.
[Codified to 12 U.S.C. 1813(p)]
[Source:Section 2[3(p)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 875), effective September 21, 1950, as amended bysection 201(a) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 187), effective August 9,1989]
(q)Appropriate Federal Banking Agency.--The term"appropriate Federal banking agency" means--
(1)the Office of the Comptroller of the Currency, in the caseof.--
(A)any national banking association;
(B)any Federal branch or agency of a foreign bank; and
(C)any Federal savings association;
(2)the Federal Deposit Insurance Corporation, in the case of.--
(A)any State nonmember insured bank;
(B)any foreign bank having an insured branch; and
(C)any State savings association;
(3)the Board of Governors of the Federal Reserve System in thecase of--
(A)any State member bank;
(B)any branch or agency of a foreign bank with respect to anyprovision of the Federal Reserve Act which is made applicable under theInternational Banking Act of 1978;
(C)any foreign bank which does not operate an insured branch;
(D)any agency or commercial lending company other than a Federalagency;
(E)supervisory or regulatory proceedings arising from theauthority given to the Board of Governors under section 7(c)(1) of theInternational Banking Act of 1978, including such proceedings under theFinancial Institution Supervisory Act of 1966;
(F)any bank holding company and any subsidiary (other than adepository institution) of a bank holding company; and
(G)any savings and loan holding company and any subsidiary(other than a depository institution) of a savings and loan holdingcompany.
Under the rule set forth in this subsection, more than one agencymay be an appropriate Federal banking agency with respect to any giveninstitution.
[Codified to 12 U.S.C. 1813(q)]
[Source:Section 2[3(q)] of the Act of September 21, 1950(Pub. L. No. 797), as added by section 201 of title II of the Act ofOctober 16, 1966 (Pub. L. No. 89--695; 80 Stat. 1046), effectiveOctober 16, 1966, and as amended by section 6(c)(5) of the Act ofSeptember 17, 1978 (Pub. L. No. 95--369; 92 Stat. 615), effectiveSeptember 17, 1978; section 113(a) of title I of the Act of October 15,1982 (Pub. L. No. 97--320; 96 Stat. 1473), effective October 15, 1982;sections 201 and 204(f)(4) of title II of the Act of August 9, 1989(Pub. L. No. 101--73; 103 Stat. 192), effective August 9, 1989; section602(a)(1)(C) of title VI of the Act of September 23, 1994 (Pub. L. No.103--325; 108 Stat. 2288), effective September 23, 1994; section8(a)(1)(C), (D) and (E) of the Act of October 30, 2004 (Pub. L. No.108-386; 118 Stat. 2231), effective October 30, 2004; section 312(c) oftitle III of the Act of July 21, 2010 (Pub.L. No. 111--203; 124 Stat.1522), effective July 21, 2010]
(r)State Bank Supervisor.--
(1)IN GENERAL.--The term "State bank supervisor"means any officer, agency, or other entity of any State which hasprimary regulatory authority over State banks or State savingsassociations in such State.
(2)INTERSTATE APPLICATION.--The State bank supervisorsof more than 1 State may be the appropriate State bank supervisor forany insured depository institution.
[Codified to 12 U.S.C. 1813(r)]
[Source:Section 2[3(r)] of the Act of September 21, 1950 (Pub.L. No. 797), as added by section 6(c)(6) of the Act of September 17,1978 (Pub. L. No. 95--369; 92 Stat. 615), effective September 17, 1978;as amended at section 1603(b)(2)(B) of title XVI of the Act of October28, 1992 (Pub. L. No. 102--550; 106 Stat. 4079), effective December 19,1991]
(s)Definitions Relating to Foreign Banks and Branches.--
(1)FOREIGN BANK.--The term "foreign bank" has themeaning given to such term by section1(b)(7) of the International Banking Act of 1978.
(2)FEDERAL BRANCH.--The term "Federal branch" hasthe meaning given to such term by section 1(b)(6) of the InternationalBanking Act of 1978.
(3)INSURED BRANCH.--The term "insured branch"means any branch (as defined in section 1(b)(3) of the InternationalBanking Act of 1978) of a foreign bank any deposits in which areinsured pursuant to this Act.
[Codified to 12 U.S.C. 1813(s)]
[Source:Section 2[3(s)] of the Act of September 21,1950 (Pub. L. No. 797), as added by section 6(c)(6) of the Act ofSeptember 17, 1978 (Pub. L. No. 95--369; 92 Stat. 615), effectiveSeptember 17, 1978; as amended by section 111(e) of title I of the Actof December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2242), effectiveDecember 19, 1991]
(t)Includes, Including.--
(1)IN GENERAL.--The terms "includes" and"including" shall not be construed more restrictively than theordinary usage of such terms so as to exclude any other thing notreferred to or described.
(2)RULE OF CONSTRUCTION.--Paragraph (1) shall not beconstrued as creating any inference that the term "includes" or"including" in any other provision of Federal law may be deemedto exclude any other thing not referred to or described.
[Codified to 12 U.S.C. 1813(t)]
[Source:Section 2[3(t)] of the Act of September 21,1950 (Pub. L. No. 797), as added by section 113(b) of title I of theAct of October 15, 1982 (Pub. L. No. 97--320; 96 Stat. 1473), effectiveOctober 15, 1982, and as amended by section 204(f)(5) of title II ofthe Act of August 9, 1989 (Pub. L. No. 101--73; 103 Stat. 192),effective August 9, 1989]
(u)Institution-Affiliated Party.--The term"institution-affiliated party" means--
(1)any director, officer, employee, or controlling stockholder(other than a bank holding company or savings and loan holding company)of, or agent for, an insured depository institution;
(2)any other person who has filed or is required to file achange-in-control notice with the appropriate Federal banking agencyunder section 7(j);
(3)any shareholder (other than a bank holding company or savingsand loan holding company), consultant, joint venture partner, and anyother person as determined by the appropriate Federal banking agency(by regulation or case-by-case) who participates in the conduct of theaffairs of an insured depository institution; and
(4)any independent contractor (including any attorney,appraiser, or accountant) who knowingly or recklessly participates in--
(A)any violation of any law or regulation;
(B)any breach of fiduciary duty; or
(C)any unsafe or unsound practice,
which caused or is likely to cause more than a minimal financial lossto, or a significant adverse effect on, the insured depositoryinstitution.
[Codified to 12 U.S.C. 1813(u)]
[Source:Section 2[3(u)] of the Act of September 21,1950 (Pub. L. No. 797), effective September 21, 1950, as added bysection 204(f)(6) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 193), effective August 9, 1989; amended by P.L.111--203, July 21, 2010]
(v)Violation.--The term "violation" includes anyaction (alone or with another or others) for or toward causing,bringing about, participating in, counseling, or aiding or abetting aviolation.
[Codified to 12 U.S.C. 1813(v)]
[Source:Section 2[3(v)] of the Act of September 21, 1950 (Pub.L. No. 797), effective September 21, 1950, as added by section204(f)(6) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 193), effective August 9, 1989]
(w)Definitions Relating to Affiliates of DepositoryInstitutions.--
(1)DEPOSITORY INSTITUTION HOLDING COMPANY.--The term"depository institution holding company" means a bank holdingcompany or a savings and loan holding company.
(2)BANK HOLDING COMPANY.--The term "bank holdingcompany" has the meaning given to such term insection 2 of the Bank Holding CompanyAct of 1956.
(3)SAVINGS AND LOAN HOLDING COMPANY.--The term"savings and loan holding company" has the meaning given to suchterm in section 10 of the Home Owners'Loan Act.
(4)SUBSIDIARY.--The term "subsidiary"--
(A)means any company which is owned or controlled directly orindirectly by another company; and
(B)includes any service corporation owned in whole or in part byan insured depository institution or any subsidiary of such a servicecorporation.
(5)CONTROL.--The term "control" has the meaninggiven to such term in section 2 of the Bank Holding Company Act of1956.
(6)AFFILIATE.--The term "affiliate" has themeaning given to such term in section 2(k) of the Bank Holding CompanyAct of 1956.
(7)COMPANY.--The term "company" has the samemeaning as in section 2(b) of the Bank Holding Company Act of 1956.
[Codified to 12 U.S.C. 1813(w)]
[Source:Section 2[3(w)] of the Act of September 21, 1950 (Pub.L. No. 797), effective September 21, 1950, as added by section204(f)(6) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 193), effective August 9, 1989; as amended bysection 161(c) of title I of the Act of December 19, 1991 (Pub. L. No.102--242; 105 Stat. 2286), effective December 19, 1991; section19(b)(2) of the Act of December 17, 1993 (Pub. L. No. 103--204; 107Stat. 2404), effective December 17, 1993]
(x)Definitions Relating to Default.--
(1)DEFAULT.--The term "default" means, withrespect to an insured depository institution, any adjudication or otherofficial determination by any court of competent jurisdiction, theappropriate Federal banking agency, or other public authority pursuantto which a conservator, receiver, or other legal custodian is appointedfor an insured depository institution or, in the case of a foreign bankhaving an insured branch, for such branch.
(2)IN DANGER OF DEFAULT.--The term "in danger ofdefault" means an insured depository institution with respect towhich (or in the case of a foreign bank having an insured branch, withrespect to such insured branch) the appropriate Federal banking agencyor State chartering authority has advised the Corporation (or, if theappropriate Federal banking agency is the Corporation, the Corporationhas determined) that--
(A)in the opinion of such agency or authority--
(i)the depository institution or insured branch is not likely tobe able to meet the demands of the institution's or branch's depositorsor pay the institution's or branch's obligations in the normal courseof business; and
(ii)there is no reasonable prospect that the depositoryinstitution or insured branch will be able to meet such demands or paysuch obligations without Federal assistance; or
(B)in the opinion of such agency or authority--
(i)the depository institution or insured branch has incurred oris likely to incur losses that will deplete all or substantially all ofits capital; and
(ii)there is no reasonable prospect that the capital of thedepository institution or insured branch will be replenished withoutFederal assistance.
[Codified to 12 U.S.C. 1813(x)]
[Source:Section 2[3(x)] of the Act of September 21, 1950 (Pub.L. No. 797), effective September 21, 1950, as added by section204(f)(6) of title II of the Act of August 9, 1989 (Pub. L. No.101--73; 103 Stat. 193), effective August 9, 1989]
(y)Definitions Relating to Deposit Insurance Fund.--(1)"Deposit Insurance Fund" means the Deposit Insurance Fundestablished under section 11(a)4.
(2)DESIGNATED RESERVE RATIO.--The term "designatedreserve ratio" means the reserve ratio designated by the Board ofDirectors in accordance with section 7(b)(3).
(3)RESERVE RATIO.--The term "reserve ratio", whenused with regard to the Deposit Insurance Fund other than in connectionwith a reference to the designated reserve ratio, means the ratio ofthe net worth of the Deposit Insurance Fund to the value of theaggregate estimated insured deposits or such comparable percentage ofthe assessment base set forth in section 7(b)(2)(C).
[Codified to 12 U.S.C. 1813(y)]
[Source:Section 2[3(y)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 882), effective September 21, 1950, as added bysection 131(c)(3) of title I of the Act of December 19, 1991 (Pub. L.No. 102--242; 105 Stat. 2266), effective December 19, 1992; section4(a) of the Act of February 15, 2006 (Pub. L. No. 109--173; 119 Stat.3606), effective date shall take effect on the date that the finalregulations required under section 2109(a)(1), of the Federal DepositInsurance Reform Act of 2005 take effect; as amendedby section 334(b) of title III of the Act ofJuly 21, 2010 (Pub. L. No. 111--203; 124 Stat. 1539), effective July21, 2010]
(z)Federal Banking Agency.--The term "Federal bankingagency" means the Comptroller of the Currency, the Board ofGovernors of the Federal Reserve System, or the Federal DepositInsurance Corporation.
[Codified to 12 U.S.C. 1813(z)]
[Source:Section 2[3(z)] of the Act of September 21, 1950 (Pub.L. No. 797; 64 Stat. 882), effective September 21, 1950, as added bysection 305(c) of title III of the Act of December 19, 1991 (Pub. L.No. 102--242; 105 Stat. 2355), effective December 19, 1991; as amendedby section 19(b)(1) of the Act of December 17, 1993 (Pub. L. No.103--204; 107 Stat. 2404), effective December 17, 1993; ; section363(1)(C) of title III of the Act of July 21, 2010 (Pub. L. No.111--203; 124 Stat. 1550), effective July 21, 2010]
NOTES
Derivation.Sections 3(a)-(o) derive from section 12B(c) ofthe Federal Reserve Act, as added by section 101[12B(c)] of title Iof the Act of August 23, 1935 (Pub. L. No. 305; 49 Stat. 684),effective August 23, 1935. By section 1 of the Act of September 21,1950 (Pub. L. No. 797; 64 Stat. 873) effective September 21, 1950,section 12B of the Federal Reserve Act was withdrawn as a part of thatAct and was made a separate act known as the "Federal DepositInsurance Act."
Section 3(p) was enacted by section 2[3(p)] of the Act ofSeptember 21, 1950 (Pub. L. No. 797; 64 Stat. 875), effective September21, 1950.
Section 3(q) was added by section 201 of title II of the Act ofOctober 16, 1966 (Pub. L. No. 89-695; 80 Stat. 1046), effective October16, 1966. It was originally effective only during the period ending atthe close of June 30, 1972. It was made "permanent" law bysection 908 of title IX of the Act of December 31, 1970 (Pub. L. No.91--609;84 Stat. 1811), effective December 31, 1970.
Sections 3(r)-(s) were added by section 6(c)(6) of the Act ofSeptember 17, 1978 (Pub. L. No. 95--369; 92 Stat. 615), effectiveSeptember 17, 1978.
Section 3(t) derives from section 113(b) of the Act of October 15,1982 (Pub. L. No. 97--320; 96 Stat. 1473), effective October 15, 1982.
Sections 3(u)-(x) were added by section 204(f)(6) of the Act ofAugust 9, 1989, known as the "FIRRE Act", (Pub. L. No. 101--73;101 Stat. 193), effective August 9, 1989.
Section 3(y) was added by section 131(c)(3) of title I of the Act ofDecember 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2266, effectiveDecember 19, 1992, and section 3(z) derives from section 305(c) oftitle III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105Stat. 2355), effective December 19, 1991.
*Editor's Note:Section 2614 of title II of the Act ofSeptember 30, 1996 (Pub. L. No. 104--208; 110 Stat. 3009--478) reads asfollows:
"(b)EFFECTIVE DATE.--The amendments made bysubsection (a) [enactment of this subparagraph (C)] shall apply toany liability of an insured depository that arises under an annuitycontract issued on or after the date of the enactment of thisAct." Go back to Text
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