Unless otherwise specified,
the following definitions apply for purposes of this part:
Affiliate has the same meaning as in section 2(k)
of the Bank Holding Company Act (12 U.S.C. 1841(k)) and 12 CFR 225.2(a).
Applicable accounting standards means GAAP, international financial reporting standards, or such
other accounting standards that a company uses in the ordinary course
of its business in preparing its consolidated financial statements.
Average combined U.S. assets means the average of combined U.S. assets for the four most recent
calendar quarters or, if the banking organization has not reported
combined U.S. assets for each of the four most recent calendar quarters,
the combined U.S. assets for the most recent calendar quarter or average
of the most recent calendar quarters, as applicable.
Average cross-jurisdictional activity means
the average of cross-jurisdictional activity for the four most recent
calendar quarters or, if the banking organization has not reported
cross-jurisdictional activity for each of the four most recent calendar
quarters, the cross-jurisdictional activity for the most recent calendar
quarter or average of the most recent calendar quarters, as applicable.
Average off-balance sheet exposure means the average of off-balance sheet exposure for the four most
recent calendar quarters or, if the banking organization has not reported
total exposure and total consolidated assets or combined U.S. assets,
as applicable, for each of the four most recent calendar quarters,
the off-balance sheet exposure for the most recent calendar quarter
or average of the most recent calendar quarters, as applicable.
Average total consolidated assets means the average of total consolidated assets for the four most
recent calendar quarters or, if the banking organization has not reported
total consolidated assets for each of the four most recent calendar
quarters, the total consolidated assets for the most recent calendar
quarter or average of the most recent calendar quarters, as applicable.
Average total nonbank assets means the average of total nonbank assets for the four most recent
calendar quarters or, if the banking organization has not reported
or calculated total nonbank assets for each of the four most recent
calendar quarters, the total nonbank assets for the most recent calendar
quarter or average of the most recent calendar quarters, as applicable.
Average U.S. non-branch assets means the average of U.S. non-branch assets for the four most recent
calendar quarters or, if the banking organization has not reported
the total consolidated assets of its top-tier U.S. subsidiaries for
each of the four most recent calendar quarters, the U.S. non-branch
assets for the most recent calendar quarter or average of the most recent
calendar quarters, as applicable.
Average weighted short-term wholesale funding means the average
of weighted short-term wholesale funding for each of the four most
recent calendar quarters or, if the banking organization has not reported
weighted short-term wholesale funding for each of the four most recent
calendar quarters, the weighted short-term wholesale funding for the
most recent calendar quarter or average of the most recent calendar
quarters, as applicable.
Bank
holding company has the same meaning as in section 2(a) of the
Bank Holding Company Act (12 U.S.C. 1841(a)) and 12 CFR 225.2(c).
Banking organization means:
(1) A bank holding company that is a U.S.
bank holding company;
(2) A U.S. intermediate holding company; or
(3) A foreign banking organization.
Board means the
Board of Governors of the Federal Reserve System.
Category II bank holding company means a U.S.
bank holding company identified as a Category II banking organization
pursuant to section 252.5.
Category
II foreign banking organization means a foreign banking organization
identified as a Category II banking organization pursuant to section
252.5.
Category II U.S. intermediate
holding company means a U.S. intermediate holding company identified
as a Category II banking organization pursuant to section 252.5.
Category III bank holding company means a U.S. bank holding company identified as a Category III banking
organization pursuant to section 252.5.
Category III foreign banking organization means a foreign banking
organization identified as a Category III banking organization pursuant
to section 252.5.
Category III
U.S. intermediate holding company means a U.S. intermediate holding
company identified as a Category III banking organization pursuant
to section 252.5.
Category IV
bank holding company means a U.S. bank holding company identified
as a Category IV banking organization pursuant to section 252.5.
Category IV foreign banking organization means a foreign banking organization identified as a Category IV
banking organization pursuant to section 252.5.
Category IV U.S. intermediate holding company means a U.S. intermediate holding company identified as a Category
IV banking organization pursuant to section 252.5.
Combined U.S. assets means the sum of the consolidated
assets of each top-tier U.S. subsidiary of the foreign banking organization
(excluding any section 2(h)(2) company, if applicable) and the total
assets of each U.S. branch and U.S. agency of the foreign banking
organization, as reported by the foreign banking organization on the
FR Y-15 or FR Y-7Q.
Combined
U.S. operations means:
(1) The U.S. branches and agencies of the
foreign banking organization; and
(2) The U.S. subsidiaries of the foreign
banking organization (excluding any section 2(h)(2) company, if applicable)
and subsidiaries of such U.S. subsidiaries.
Company means a corporation, partnership, limited
liability company, depository institution, business trust, special
purpose entity, association, or similar organization.
Control has the same meaning as
in section 2(a) of the Bank Holding Company Act (12 U.S.C. 1841(a)),
and the terms controlled and controlling shall be construed consistently
with the term control.
Council means the Financial Stability Oversight Council established by section
111 of the Dodd-Frank Act (12 U.S.C. 5321).
Credit enhancement means a qualified financial contract of the
type set forth in section 210(c)(8)(D)(ii)(XII), (iii)(X), (iv)(V),
(v)(VI), or (vi)(VI) of Title II of the Dodd-Frank Act (12 U.S.C.
5390(c)(8)(D)(ii)(XII), (iii)(X), (iv)(V), (v)(VI), or (vi)(VI)) or
a credit enhancement that the Federal Deposit Insurance Corporation
determines by regulation is a qualified financial contract pursuant
to section 210(c)(8)(D)(i) of Title II of the Act (12 U.S.C. 5390(c)(8)(D)(i)).
Cross-jurisdictional activity. The cross-jurisdictional activity of a banking organization is
equal to the cross-jurisdictional activity of the banking organization
as reported on the FR Y-15.
Depository institution has the same meaning as in section 3 of
the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).
DPC branch subsidiary means any
subsidiary of a U.S. branch or a U.S. agency acquired, or formed to
hold assets acquired, in the ordinary course of business and for the
sole purpose of securing or collecting debt previously contracted
in good faith by that branch or agency.
Foreign banking organization has the same meaning as in 12 CFR
211.21(o), provided that if the top-tier foreign banking organization
is incorporated in or organized under the laws of any State, the foreign
banking organization shall not be treated as a foreign banking organization
for purposes of this part.
FR
Y-7 means the Annual Report of Foreign Banking Organizations reporting
form.
FR Y-7Q means the Capital
and Asset Report for Foreign Banking Organizations reporting form.
FR Y-9C means the Consolidated
Financial Statements for Holding Companies reporting form.
FR Y-9LP means the Parent Company
Only Financial Statements of Large Holding Companies.
FR Y-15 means the Systemic Risk Report.
Global methodology means the
assessment methodology and the higher loss absorbency requirement
for global systemically important banks issued by the Basel Committee
on Banking Supervision, as updated from time to time.
Global systemically important banking organization means a global systemically important bank, as such term is defined
in the global methodology.
Global
systemically important BHC means a bank holding company identified
as a global systemically important BHC pursuant to 12 CFR 217.402.
Global systemically important foreign
banking organization means a top-tier foreign banking organization
that is identified as a global systemically important foreign banking
organization under section 252.147(b)(4) or section 252.153(b)(4)
of this part.
GAAP means
generally accepted accounting principles as used in the United States.
Home country, with respect
to a foreign banking organization, means the country in which the
foreign banking organization is chartered or incorporated.
Home country resolution authority, with respect to a foreign banking organization, means the governmental
entity or entities that under the laws of the foreign banking organization’s
home county has responsibility for the resolution of the top-tier
foreign banking organization.
Home-country supervisor, with respect to a foreign banking organization,
means the governmental entity or entities that under the laws of the
foreign banking organization’s home county has responsibility for
the supervision and regulation of the top-tier foreign banking organization.
Nonbank financial company supervised
by the Board means a company that the Council has determined under
section 113 of the Dodd-Frank Act (12 U.S.C. 5323) shall be supervised
by the Board and for which such determination is still in effect.
Non-U.S. affiliate means any
affiliate of a foreign banking organization that is incorporated or
organized in a country other than the United States.
Off-balance sheet exposure.
(1) The off-balance sheet exposure of a U.S. bank
holding company or U.S. intermediate holding company is equal to:
(i) The total exposure of such banking organization, as reported
by the banking organization on the FR Y-15; minus
(ii) The total consolidated
assets of such banking organization for the same calendar quarter.
(2) The off-balance
sheet exposure of a foreign banking organization is equal to:
(i) The
total exposure of the combined U.S. operations of the foreign banking
organization, as reported by the foreign banking organization on the
FR Y-15; minus
(ii) The combined U.S. assets of the foreign banking organization
for the same calendar quarter.
Publicly traded means an instrument
that is traded on:
(1) Any exchange registered with the U.S.
Securities and Exchange Commission as a national securities exchange
under section 6 of the Securities Exchange Act of 1934 (15 U.S.C.
78f); or
(2) Any non-U.S.-based
securities exchange that:
(i) Is registered with, or approved
by, a non-U.S. national securities regulatory authority; and
(ii) Provides a liquid,
two-way market for the instrument in question, meaning that there
are enough independent bona fide offers to buy and sell so
that a sales price reasonably related to the last sales price or current bona fide competitive bid and offer quotations can be determined
promptly and a trade can be settled at such price within a reasonable
time period conforming with trade custom.
(3) A company can rely on
its determination that a particular non-U.S.-based securities exchange
provides a liquid two-way market unless the Board determines that
the exchange does not provide a liquid two-way market.
Section 2(h)(2) company has
the same meaning as in section 2(h)(2) of the Bank Holding Company
Act (12 U.S.C. 1841(h)(2)).
State means any state, commonwealth, territory, or possession
of the United States, the District of Columbia, the Commonwealth of
Puerto Rico, the Commonwealth of the Northern Mariana Islands, American
Samoa, Guam, or the United States Virgin Islands.
State member bank has the same meaning as in
12 CFR 208.2(g).
Subsidiary has the same meaning as in section 3 of the Federal Deposit Insurance
Act (12 U.S.C. 1813).
Top-tier
foreign banking organization, with respect to a foreign bank,
means the top-tier foreign banking organization or, alternatively,
a subsidiary of the top-tier foreign banking organization designated
by the Board.
Total consolidated
assets.
(1) Total consolidated
assets of a U.S. bank holding company or a U.S. intermediate holding
company is equal to the total consolidated assets of such banking
organization calculated based on the average of the balances as of
the close of business for each day for the calendar quarter or an
average of the balances as of the close of business on each Wednesday
during the calendar quarter, as reported on the FR Y-9C.
(2) Total consolidated assets
of a foreign banking organization is equal to the total consolidated
assets of the foreign banking organization, as reported on the FR
Y-7Q.
(3) Total consolidated
assets of a state member bank is equal to the total consolidated assets
as reported by a state member bank on its Consolidated Report of Condition
and Income (Call Report).
Total nonbank assets.
(1) Total nonbank assets of a U.S. bank
holding company or U.S. intermediate holding company is equal to the
total nonbank assets of such banking organization, as reported on
the FR Y-9LP.
(2) Total
nonbank assets of a foreign banking organization is equal to:
(i) The
sum of the total nonbank assets of any U.S. intermediate holding company,
if any, as reported on the FR Y-9LP; plus
(ii) The assets of the foreign banking
organization’s nonbank U.S. subsidiaries excluding the U.S. intermediate
holding company, if any; plus
(iii) The sum of the foreign banking
organization’s equity investments in unconsolidated U.S. subsidiaries,
excluding equity investments in any section 2(h)(2) company; minus
(iv) The assets
of any section 2(h)(2) company.
U.S. agency has the same meaning
as the term “agency” in section 211.21(b) of this chapter.
U.S. bank holding company means
a bank holding company that is:
(1) Incorporated in or organized under
the laws of the United States or any State; and
(2) Not a consolidated subsidiary of a
bank holding company that is incorporated in or organized under the
laws of the United States or any State.
U.S. branch has the same meaning as the term
“branch” in section 211.21(e) of this chapter.
U.S. branches and agencies means the U.S. branches
and U.S. agencies of a foreign banking organization.
U.S. government agency means an agency or instrumentality
of the United States whose obligations are fully and explicitly guaranteed
as to the timely payment of principal and interest by the full faith
and credit of the United States.
U.S. government-sponsored enterprise means an entity originally
established or chartered by the U.S. government to serve public purposes
specified by the U.S. Congress, but whose obligations are not explicitly
guaranteed by the full faith and credit of the United States.
U.S. intermediate holding company means a top-tier U.S. company that is required to be established
pursuant to section 252.147 or section 252.153.
U.S. non-branch assets. U.S. non-branch assets
are equal to the sum of the consolidated assets of each top-tier U.S.
subsidiary of the foreign banking organization (excluding any section
2(h)(2) company and DPC branch subsidiary, if applicable) as reported
on the FR Y-7Q. In calculating U.S. non-branch assets, a foreign banking
organization must reduce its U.S. non-branch assets by the amount
corresponding to balances and transactions between a top-tier U.S.
subsidiary and any other top-tier U.S. subsidiary (excluding any 2(h)(2)
company or DPC branch subsidiary) to the extent such items are not
already eliminated in consolidation.
U.S. subsidiary means any subsidiary that is incorporated in
or organized under the laws of the United States or any State, commonwealth,
territory, or possession of the United States, the Commonwealth of
Puerto Rico, the Commonwealth of the North Mariana Islands, American
Samoa, Guam, or the United States Virgin Islands.
Weighted short-term wholesale funding is equal
to the weighted short-term wholesale funding of a banking organization,
as reported on the FR Y-15.
