Source: https://www.law.cornell.edu/cfr/text/12/50.3
Timestamp: 2018-09-23 04:40:56
Document Index: 731520325

Matched Legal Cases: ['art 50', '§ 50', '§ 50', '§ 50', '§ 50', '§ 50', 'art 47', 'art 225', 'art 382', 'art 50']

12 CFR 50.3 - Definitions. | US Law | LII / Legal Information Institute
CFR › Title 12 › Chapter I › Part 50 › Subpart A › Section 50.3
12 CFR 50.3 - Definitions.
Affiliated depository institution means with respect to a national bank or Federal savings association that is a depository institution, another depository institution that is a consolidated subsidiary of a bank holding company or savings and loan holding company of which the national bank or Federal savings association is also a consolidated subsidiary.
Brokered deposit means any deposit held at the national bank or Federal savings association that is obtained, directly or indirectly, from or through the mediation or assistance of a deposit broker as that term is defined in section 29 of the
Brokered sweep deposit means a deposit held at the national bank or Federal savings association by a customer or counterparty through a contractual feature that automatically transfers to the national bank or Federal savings association from another regulated financial company at the close of each business day amounts identified under the agreement governing the account from which the amount is being transferred.
Calculation date means any date on which a national bank or Federal savings association calculates its liquidity coverage ratio under § 50.10.
Client pool security means a security that is owned by a customer of the national bank or Federal savings association that is not an asset of the national bank or Federal savings association, regardless of a national bank's or Federal savings association's hypothecation rights with respect to the security.
(1) A deposit of a public sector entity held at the national bank or Federal savings association that is secured under applicable law by a lien on assets owned by the national bank or Federal savings association and that gives the depositor, as holder of the lien, priority over the assets in the event the national bank or Federal savings association enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding; or
(2) A deposit of a fiduciary account held at the national bank or Federal savings association for which the national bank or Federal savings association is a fiduciary and sets aside assets owned by the national bank or Federal savings association as security under 12 CFR 9.10 (national bank) or 12 CFR 150.300 through 150.320 ( Federal savings associations) and that gives the depositor priority over the assets in the event the national bank or Federal savings association enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding.
(1) The national bank or Federal savings association may not refuse to extend credit or funding under the facility; or
(2) The national bank or Federal savings association may refuse to extend credit under the facility (to the extent permitted under applicable law) only upon the satisfaction or occurrence of one or more specified conditions not including change in financial condition of the borrower, customary notice, or administrative conditions.
Consolidated subsidiary means a company that is consolidated on the balance sheet of a national bank or Federal savings association or other company under GAAP.
Controlled subsidiary means, with respect to a company or a national bank or Federal savings association, a consolidated subsidiary or a company that otherwise meets the definition of “subsidiary” in section 2(d) of the
Customer short position means a legally binding written agreement pursuant to which the customer must deliver to the national bank or Federal savings association a non-cash asset that the customer has already sold.
( 12 U.S.C. 1813(l)) or an equivalent liability of the national bank or Federal savings association in a jurisdiction outside of the United States.
Eligible HQLA means a high-quality liquid asset that meets the requirements set forth in § 50.22.
Foreign withdrawable reserves means a national bank's or Federal savings association's balances held by or on behalf of the national bank or Federal savings association at a foreign central bank that are not subject to restrictions on the national bank's or Federal savings association's ability to use the reserves.
High-quality liquid asset (HQLA) means an asset that is a level 1 liquid asset, level 2A liquid asset, or level 2B liquid asset, in accordance with the criteria set forth in § 50.20.
HQLA amount means the HQLA amount as calculated under § 50.21.
Identified company means any company that the OCC has determined should be treated for the purposes of this part the same as a regulated financial company, investment company, non-regulated fund, pension fund, or investment adviser, based on activities similar in scope, nature, or operations to those entities.
, the European Investment Bank, the European Investment Fund, the Nordic Investment Bank, the Caribbean Development Bank, the Islamic Development Bank, the Council of Europe Development Bank, and any other entity that provides financing for national or regional development in which the U.S. government is a shareholder or contributing member or which the OCC determines poses comparable risk.
Operational deposit means unsecured wholesale funding or a collateralized deposit that is necessary for the national bank or Federal savings association to provide operational services as an independent third-party intermediary, agent, or administrator to the wholesale customer or counterparty providing the unsecured wholesale funding or collateralized deposit. In order to recognize a deposit as an operational deposit for purposes of this part, a national bank or Federal savings association must comply with the requirements of § 50.4(b) with respect to that deposit.
(2) The agreement provides the national bank or Federal savings association the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case:
, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar to the U.S. laws referenced in this paragraph (2)(i)(A) in order to facilitate the orderly resolution of the defaulting counterparty; or
(ii) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of part 47, subpart I of part 225, or part 382 of this title, as applicable;
Reciprocal brokered deposit means a brokered deposit that a national bank or Federal savings association receives through a deposit placement network on a reciprocal basis, such that:
(1) For any deposit received, the national bank or Federal savings association (as agent for the depositors) places the same amount with other depository institutions through the network; and
(1) Balances held in a master account of the national bank or Federal savings association at a Federal Reserve Bank, less any balances that are attributable to any respondent of the national bank or Federal savings association if the national bank or Federal savings association is a correspondent for a pass-through account as defined in section 204.2(l) of Regulation D ( 12 CFR 204.2(l));
(2) Balances held in a master account of a correspondent of the national bank or Federal savings association that are attributable to the national bank or Federal savings association if the national bank or Federal savings association is a respondent for a pass-through account as defined in section 204.2(l) of Regulation D;
(3) “Excess balances” of the national bank or Federal savings association as defined in section 204.2(z) of Regulation D ( 12 CFR 204.2(z)) that are maintained in an “excess balance account” as defined in section 204.2(aa) of Regulation D ( 12 CFR 204.2(aa)) if the national bank or Federal savings association is an excess balance account participant; or
(4) “Term deposits” of the national bank or Federal savings association as defined in section 204.2(dd) of Regulation D ( 12 CFR 204.2(dd)) if such term deposits are offered and maintained pursuant to terms and conditions that:
(i) The national bank or Federal savings association manages its transactions with the business customer, including deposits, unsecured funding, and credit facility and liquidity facility transactions, in the same way it manages its transactions with individuals;
Retail deposit means a demand or term deposit that is placed with the national bank or Federal savings association by a retail customer or counterparty, other than a brokered deposit.
Secured funding transaction means any funding transaction that is subject to a legally binding agreement as of the calculation date and gives rise to a cash obligation of the national bank or Federal savings association to a counterparty that is secured under applicable law by a lien on assets owned by the national bank or Federal savings association, which gives the counterparty, as holder of the lien, priority over the assets in the event the national bank or Federal savings association enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding. Secured funding transactions include repurchase transactions, loans of collateral to the national bank's or Federal savings association's customers to effect short positions, other secured loans, and borrowings from a Federal Reserve Bank.
Secured lending transaction means any lending transaction that is subject to a legally binding agreement of the calculation date and gives rise to a cash obligation of a counterparty to the national bank or Federal savings association that is secured under applicable law by a lien on assets owned by the counterparty, which gives the national bank or Federal savings association, as holder of the lien, priority over the assets in the event the counterparty enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding, including reverse repurchase transactions and securities borrowing transactions.
(2) The depositor that holds the account has another established relationship with the national bank or Federal savings association such as another deposit account, a loan, bill payment services, or any similar service or product provided to the depositor that the national bank or Federal savings association demonstrates to the satisfaction of the OCC would make deposit withdrawal highly unlikely during a liquidity stress event.
Unsecured wholesale funding means a liability or general obligation of the national bank or Federal savings association to a wholesale customer or counterparty that is not secured under applicable law by a lien on assets owned by the national bank or Federal savings association, including a wholesale deposit.
[ 79 FR 61523, 61538, Oct. 10, 2014, as amended at 79 FR 78294, Dec. 30, 2014; 82 FR 56669, Nov. 29, 2017]
Title 12 published on 08-Sep-2018 03:33
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 50 after this date.
FR Doc. 2017-25529
12 CFR 50.4 — Certain Operational Requirements.