§3101 Definitions

Summary

Defines the main words used in the chapter. Agency — a foreign bank office in a U.S. State that keeps credit balances, pays checks, or makes loans but cannot take deposits from U.S. citizens or residents. Board — the Board of Governors of the Federal Reserve System. Branch — a foreign bank office in a State that accepts deposits. Comptroller — the Comptroller of the Currency. Federal agency — an agency of a foreign bank set up under section 3102. Federal branch — a branch set up under section 3102. Foreign bank — a company formed under the laws of another country, or under the laws of a U.S. territory (including Puerto Rico, Guam, American Samoa, or the Virgin Islands), that does banking; this includes foreign commercial banks, merchant banks, and related subsidiaries or affiliates. Foreign country — any country other than the United States, including its colonies, dependencies, or possessions. Commercial lending company — a nonbank U.S. company (not an organization under section 25 of the Federal Reserve Act (12 U.S.C. 601 et seq.)) that keeps credit balances and makes commercial loans. State — any State of the United States or the District of Columbia. State agency — a foreign bank agency set up under State law. State branch — a foreign bank branch set up under State law. Affiliate, bank, bank holding company, company, control, and subsidiary — have the meanings they have in the Bank Holding Company Act of 1956, and "controlled" and "controlling" are read the same as "control" in section 2 of that Act. Consolidated — combined in line with U.S. generally accepted accounting principles applied consistently. Representative office — a foreign bank office in a State that is not a Federal or State branch or agency. Office — any branch, agency, or representative office. State bank supervisor — as defined in section 1813.