As used in this part, unless the context
requires otherwise:
(a) Act means the Federal Deposit
Insurance Corporation Improvement Act of 1991 (Pub. L. 102-242, 105
Stat. 2236), as amended.
(b) Affiliate, with respect
to a person, means any other person that controls, is controlled by,
or is under common control with the person.
(c) Bridge institution means a legal entity that has been established by a governmental
authority to take over, transfer, or continue operating critical functions
and viable operations of an entity in resolution. A bridge institution
could include a bridge depository institution or a bridge financial
company organized by the Federal Deposit Insurance Corporation in
accordance with 12 U.S.C. 1821(n) or 5390(h), respectively, or a similar
entity organized under foreign law.
(d) Financial contract means a qualified financial contract as defined in section 11(e)(8)(D)
of the Federal Deposit Insurance Act (12 U.S.C. 1821(e)(8)(D)), as
amended, except that a forward contract includes a contract with a
maturity date two days or less after the date the contract is entered
into (i.e., a “spot” contract).
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(e) Financial market means a market for a financial contract.
(f) Gross mark-to-market
positions in one or more financial contracts means the sum of
the absolute values of positions in those contracts, adjusted to reflect
the market values of those positions in accordance with the methods
used by the parties to each contract to value the contract.
(g) Person means any legal entity, foreign or domestic, including
a corporation, unincorporated company, partnership, government unit
or instrumentality, trust, natural person, or any other entity or
organization.
