For the purposes of this chapter—
(1) “agency” means any office or any place of business of a foreign bank located in any State of the United States at which credit balances are maintained incidental to or arising out of the exercise of banking powers, checks are paid, or money is lent but at which deposits may not be accepted from citizens or residents of the United States;
(2) “Board” means the Board of Governors of the Federal Reserve System;
(3) “branch” means any office or any place of business of a foreign bank located in any State of the United States at which deposits are received;
(4) “Comptroller” means the Comptroller of the Currency;
(5) “Federal agency” means an agency of a foreign bank established and operating under [section 3102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3102&num=0&edition=prelim);
(6) “Federal branch” means a branch of a foreign bank established and operating under [section 3102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3102&num=0&edition=prelim);
(7) “foreign bank” means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which engages in the business of banking, or any subsidiary or affiliate, organized under such laws, of any such company. For the purposes of this chapter the term “foreign bank” includes, without limitation, foreign commercial banks, foreign merchant banks and other foreign institutions that engage in banking activities usual in connection with the business of banking in the countries where such foreign institutions are organized or operating;
(8) “foreign country” means any country other than the United States, and
File SHA-256: 59807cd45b199c3cc820742d41177a57ffcfc196af3599185cb8de8b14d151fe. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. This page displays the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Stable record: federal_law:legal_authorities:record_usc_35b1c73bfa5526c7535480e4 Source file: Laws/federal/codes/united-states-code/title-12/section-3101-definitions--5b8b779d17.md Pages: Not recorded – Not recorded Passage SHA-256: a1cc21ad85aa2f1c6a1de167402035ffee85e0490b2de5ec481e65c92097320b Retained source evidence SHA-256: 59807cd45b199c3cc820742d41177a57ffcfc196af3599185cb8de8b14d151fe
Source location: Title 12, Chapter 32, § 3101; chapter-032-foreign-bank-participation-in-domestic-markets.md
Stored source content
For the purposes of this chapter—
(1) “agency” means any office or any place of business of a foreign bank located in any State of the United States at which credit balances are maintained incidental to or arising out of the exercise of banking powers, checks are paid, or money is lent but at which deposits may not be accepted from citizens or residents of the United States;
(2) “Board” means the Board of Governors of the Federal Reserve System;
(3) “branch” means any office or any place of business of a foreign bank located in any State of the United States at which deposits are received;
(4) “Comptroller” means the Comptroller of the Currency;
(5) “Federal agency” means an agency of a foreign bank established and operating under [section 3102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3102&num=0&edition=prelim);
(6) “Federal branch” means a branch of a foreign bank established and operating under [section 3102 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3102&num=0&edition=prelim);
(7) “foreign bank” means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which engages in the business of banking, or any subsidiary or affiliate, organized under such laws, of any such company. For the purposes of this chapter the term “foreign bank” includes, without limitation, foreign commercial banks, foreign merchant banks and other foreign institutions that engage in banking activities usual in connection with the business of banking in the countries where such foreign institutions are organized or operating;
(8) “foreign country” means any country other than the United States, and includes any colony, dependency, or possession of any such country;
(9) “commercial lending company” means any institution, other than a bank or an organization operating under section 25 of the Federal Reserve Act [[12 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section601&num=0&edition=prelim) et seq.], organized under the laws of any State of the United States, or the District of Columbia which maintains credit balances incidental to or arising out of the exercise of banking powers and engages in the business of making commercial loans;
(10) “State” means any State of the United States or the District of Columbia;
(11) “State agency” means an agency of a foreign bank established and operating under the laws of any State;
(12) “State branch” means a branch of a foreign bank established and operating under the laws of any State;
(13) the terms “affiliate,” 11 So in original. The comma probably should follow the quotation marks. “bank”, “bank holding company”, “company”, “control”, and “subsidiary” have the same meanings assigned to those terms in the Bank Holding Company Act of 1956 [[12 U.S.C. 1841](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim) et seq.], and the terms “controlled” and “controlling” shall be construed consistently with the term “control” as defined in section 2 of the Bank Holding Company Act of 1956 [[12 U.S.C. 1841](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim)];
(14) “consolidated” means consolidated in accordance with generally accepted accounting principles in the United States consistently applied;
(15) the term “representative office” means any office of a foreign bank which is located in any State and is not a Federal branch, Federal agency, State branch, or State agency;
(16) the term “office” means any branch, agency, or representative office; and
(17) the term “State bank supervisor” has the meaning given to such term in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) Except as provided in paragraph (5) of this subsection, “bank holding company” means any company which has control over any bank or over any company that is or becomes a bank holding company by virtue of this chapter.
(2) Any company has control over a bank or over any company if—
(A) the company directly or indirectly or acting through one or more other persons owns, controls, or has power to vote 25 per centum or more of any class of voting securities of the bank or company;
(B) the company controls in any manner the election of a majority of the directors or trustees of the bank or company; or
(C) the Board determines, after notice and opportunity for hearing, that the company directly or indirectly exercises a controlling influence over the management or policies of the bank or company.
(3) For the purposes of any proceeding under paragraph (2)(C) of this subsection, there is a presumption that any company which directly or indirectly owns, controls, or has power to vote less than 5 per centum of any class of voting securities of a given bank or company does not have control over that bank or company.
(4) In any administrative or judicial proceeding under this chapter, other than a proceeding under paragraph (2)(C) of this subsection, a company may not be held to have had control over any given bank or company at any given time unless that company, at the time in question, directly or indirectly owned, controlled, or had power to vote 5 per centum or more of any class of voting securities of the bank or company, or had already been found to have control in a proceeding under paragraph (2)(C).
(5) Notwithstanding any other provision of this subsection—
(A) No bank and no company owning or controlling voting shares of a bank is a bank hold
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1841. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 1841. Definitions
(a)(1) Except as provided in paragraph (5) of
this subsection, ‘‘bank holding company’’ means
any company which has control over any bank
or over any company that is or becomes a bank
holding company by virtue of this chapter.
(2) Any company has control over a bank or
over any company if—
(A) the company directly or indirectly or
acting through one or more other persons
owns, controls, or has power to vote 25 per
centum or more of any class of voting securi-
ties of the bank or company;
(B) the company controls in any manner the
election of a majority of the directors or
trustees of the bank or company; or
(C) the Board determines, after notice and
opportunity for hearing, that the company di-
rectly or indirectly exercises a controlling in-
fluence over the management or policies of the
bank or company.
(3) For the purposes of any proceeding under
paragraph (2)(C) of this subsection, there is a
presumption that any company which directly
or indirectly owns, controls, or has power to
vote less than 5 per centum of any class of vot-
ing securities of a given bank or company does
not have control over that bank or company.
(4) In any administrative or judicial pro-
ceeding under this chapter, other than a pro-
ceeding under paragraph (2)(C) of this sub-
section, a company may not be held to have had
control over any given bank or company at any
given time unless that company, at the time in
question, directly or indirectly owned, con-
trolled, or had power to vote 5 per centum or
more of any class of voting securities of the
bank or company, or had already been found to
have control in a proceeding under paragraph
(2)(C).
(5) Notwithstanding any other provision of
this subsection—
(A) No bank and no company owning or co
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1841. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 3101. Definitions
For the purposes of this chapter—
(1) ‘‘agency’’ means any office or any place
of business of a foreign bank located in any
State of the United States at which credit bal-
ances are maintained incidental to or arising
out of the exercise of banking powers, checks
are paid, or money is lent but at which depos-
its may not be accepted from citizens or resi-
dents of the United States;
(2) ‘‘Board’’ means the Board of Governors of
the Federal Reserve System;
(3) ‘‘branch’’ means any office or any place
of business of a foreign bank located in any
State of the United States at which deposits
are received;
(4) ‘‘Comptroller’’ means the Comptroller of
the Currency;
(5) ‘‘Federal agency’’ means an agency of a
foreign bank established and operating under
section 3102 of this title;
(6) ‘‘Federal branch’’ means a branch of a
foreign bank established and operating under
section 3102 of this title;
(7) ‘‘foreign bank’’ means any company orga-
nized under the laws of a foreign country, a
territory of the United States, Puerto Rico,
Guam, American Samoa, or the Virgin Islands,
which engages in the business of banking, or
any subsidiary or affiliate, organized under
such laws, of any such company. For the pur-
poses of this chapter the term ‘‘foreign bank’’
includes, without limitation, foreign commer-
cial banks, foreign merchant banks and other
foreign institutions that engage in banking
activities usual in connection with the busi-
ness of banking in the countries where such
foreign institutions are organized or oper-
ating;
(8) ‘‘foreign country’’ means any country
other than the United States, and includes any
colony, dependency, or possession of any such
country;
(9) ‘‘commercial lending company’’ means
any institution, ot
Any national banking association possessing a capital and surplus of $1,000,000 or more may file application with the Board of Governors of the Federal Reserve System for permission to exercise, upon such conditions and under such regulations as may be prescribed by the said board, the following powers:
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 601. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 601. Authorization; conditions and regulations
Any national banking association possessing a
capital and surplus of $1,000,000 or more may file
application with the Board of Governors of the
Federal Reserve System for permission to exer-
cise, upon such conditions and under such regu-
lations as may be prescribed by the said board,
the following powers:
First. To establish branches in foreign coun-
tries or dependencies or insular possessions of
the United States for the furtherance of the for-
eign commerce of the United States, and to act
if required to do so as fiscal agents of the United
States.
Second. To invest an amount not exceeding in
the aggregate 10 per centum of its paid-in cap-
ital stock and surplus in the stock of one or
more banks or corporations chartered or incor-
porated under the laws of the United States or
of any State thereof, and principally engaged in
international or foreign banking, or banking in
a dependency or insular possession of the United
States either directly or through the agency,
ownership, or control of local institutions in for-
eign countries, or in such dependencies or insu-
lar possessions.
Third. To acquire and hold, directly or indi-
rectly, stock or other evidences of ownership in
one or more banks organized under the law of a
foreign country or a dependency or insular pos-
session of the United States and not engaged, di-
rectly or indirectly, in any activity in the
United States except as, in the judgment of the
Board of Governors of the Federal Reserve Sys-
tem, shall be incidental to the international or
foreign business of such foreign bank; and, not-
withstanding the provisions of section 371c of
this title, to make loans or extensions of credit
to or for the account of such bank in the manne
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 601. This identifies an authority to review, not proof of applicability.