Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 26 - EXAMINATION AND OFF-SITE MONITORING OF HAWAII FINANCIAL INSTITUTIONS › Subchapter 1 - GENERAL PROVISIONS › Section 16-26-2 - Definitions

Current through June, 2024
As used in this chapter:
"Affiliate" with respect to an existing or proposed
				  financial institution or a financial institution holding company, means any
				  company that controls the financial institution or the financial institution
				  holding company and any other company that is under common control with the
				  financial institution or the financial institution holding company. The
				  following shall not be considered to be an affiliate:
(1) Any company, other than a financial institution, that is
				  a subsidiary of a financial institution;
(2) Any company engaged solely in holding or leasing the
				  premises of a financial institution;
(3) Any company engaged solely in conducting a safe deposit
				  business;
(4) Any company engaged solely in holding obligations of the
				  United States or its agencies or obligations fully guaranteed by the United
				  States or its agencies as to principal and interest; and
(5) Any company where control results from the exercise of
				  rights arising out of a bona fide debt previously contracted, but only for the
				  period of time specifically authorized under applicable state or federal law or
				  regulation.
"Commissioner" means the commissioner of financial
				  institutions of this State.
"Division" means the division of financial institutions of
				  the department of commerce and consumer affairs of this State.
"Examination" means the periodic on-site review and
				  evaluation of the condition of a financial institution which is conducted in
				  accordance with designated policies and procedures.
"FDIC" means the Federal Deposit Insurance Corporation,
				  which provides insurance on deposits to commercial banks, savings banks,
				  savings and loan associations and depository financial services loan companies.
				  The FDIC has primary federal supervisory authority over insured state banks
				  that are not members of the federal reserve system and depository financial
				  services loan companies.
"FFIEC" means the Federal Financial Institutions Examination
				  Council, the interagency body which prescribes uniform principles, standards,
				  and reporting forms for the federal examination and supervision of insured
				  depository institutions, bank holding companies, and savings and loan holding
				  companies. The council has five member agencies: the Office of the Comptroller
				  of the Currency, the Federal Deposit Insurance Corporation, the Board of
				  Governors of the Federal Reserve System, the Office of Thrift Supervision, and
				  the National Credit Union Administration.
"Hawaii financial institution" or "institution"
				  means:
(1) A corporation or credit union which holds a charter or
				  license under chapter 412, HRS, or under prior Hawaii law, authorizing it to
				  accept deposits, to make loans in excess of the rates permitted in chapter 478,
				  HRS, or to engage in the business of a trust company; or
(2) A resulting bank as defined in article 12 of chapter 412,
				  HRS, and includes a corporation, mutual savings and loan association or credit
				  union existing and chartered as a Hawaii financial institution or licensed to
				  transact business in this State on July 1, 1993. A Hawaii financial institution
				  may be a bank, resulting bank as defined in article 12 of chapter 412, HRS,
				  savings bank, savings and loan association, depository financial services loan
				  company, nondepository financial services loan company, trust company, credit
				  union, or intra-Pacific bank.
"Holding company" means any company which controls another
				  company.
"NCUA" means the National Credit Union Administration, the
				  federal agency that charters, insures, and supervises federal credit unions.
				  Through the National Credit Union Share Insurance Fund, the NCUA provides
				  deposit insurance to federal credit unions and to many state-chartered credit
				  unions, including all Hawaii-chartered credit unions.
"Off-site monitoring" means the systematic method of
				  tracking the financial condition of institutions between examinations by use of
				  trends, ratios, and comparisons with peer group performance.
"OTS" means the Office of Thrift Supervision, the federal
				  regulatory agency for savings and loan associations and savings banks.
"Subsidiary" means a corporation, joint venture,
				  partnership, or other company that is controlled by another corporation.
"Visitation" means an examination of an institution for a
				  specific or limited purpose.