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12 U.S.C. § 221 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
Wherever the word “bank” is used in this chapter, the word shall be held to include State bank, banking association, and trust company, except where national banks or Federal reserve banks are specifically referred to. For purposes of this chapter, a State bank includes any bank which is operating under the Code of Law for the District of Columbia.
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Stable record: federal_law:legal_authorities:record_usc_19d2de99de7ec8662324f08b
Source file: Laws/federal/codes/united-states-code/title-12/section-221-definitions--f6aafbf53c.md
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Source location: Title 12, Chapter 3, § 221; chapter-003-federal-reserve-system.md
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Wherever the word “bank” is used in this chapter, the word shall be held to include State bank, banking association, and trust company, except where national banks or Federal reserve banks are specifically referred to. For purposes of this chapter, a State bank includes any bank which is operating under the Code of Law for the District of Columbia.
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Federal law — U.S. Code and appendices · legal_authorities
The short title of the Act of December 23, 1913, ch. 6, 38 Stat. 251, shall be the “Federal Reserve Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 226
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Federal law — U.S. Code and appendices · legal_authorities
The Director shall from time to time, at least annually, require examinations and reports of condition of all Federal Home Loan Banks in such form as the Director shall prescribe and shall furnish periodically statements based upon the reports of the banks to the Director. For the purposes of this chapter, examiners appointed by the Director shall be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the National Bank Act [[12 U.S.C. 21](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section21&num=0&edition=prelim) et seq.] and the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.], and shall have, in the exercise of functions under this chapter, the same powers and privileges as are vested in such examiners by law. In addition to such examinations, the Comptroller General may audit or examine the Director and the Banks, to determine the extent to which the Director and the Banks are fairly and effectively fulfilling the purposes of this chapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1440
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Affiliate transactions**
(1) **In general** — Sections 23A and 23B of the Federal Reserve Act [[12 U.S.C. 371c](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section371c&num=0&edition=prelim) and 371c–1] shall apply to every savings association in the same manner and to the same extent as if the savings association were a member bank (as defined in such Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.]), except that—
(A) no loan or other extension of credit may be made to any affiliate unless that affiliate is engaged only in activities described in [section 1467a(c)(2)(F)(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1467a/c/2/F/i&num=0&edition=prelim); and
(B) no savings association may enter into any transaction described in section 23A(b)(7)(B) of the Federal Reserve Act with any affiliate other than with respect to shares of a subsidiary.
(2) **Sister bank exemption made available to savings associations**
(A) *Savings associations controlled by bank holding companies* — Every savings association more than 80 percent of the voting stock of which is owned by a company described in [section 1467a(c)(8) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1467a/c/8&num=0&edition=prelim) shall be treated as a bank for purposes of section 23A(d)(1) and section 23B of the Federal Reserve Act, if every savings association and bank controlled by such company complies with all applicable capital requirements on a fully phased-in basis and without reliance on goodwill.
(B) *Savings associations generally* — Effective on and after January 1, 1995, every savings associa
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1468
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Federal law — U.S. Code and appendices · legal_authorities
For the purposes of this chapter, examiners appointed by the a 11 So in original. Federal banking agency shall—
(1) be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.] and title LXII of the Revised Statutes; and
(2) have, in the exercise of functions under this chapter, the same powers and privileges as are vested in such examiners by law.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1468b
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1813
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reports of condition; access to reports**
(1) Each insured State nonmember bank and each foreign bank having an insured branch which is not a Federal branch shall make to the Corporation reports of condition which shall be in such form and shall contain such information as the Board of Directors may require. Such reports shall be made to the Corporation on the dates selected as provided in paragraph (3) of this subsection and the deposit liabilities shall be reported therein in accordance with and pursuant to paragraphs (4) and (5) of this subsection. The Board of Directors may call for additional reports of condition on dates to be fixed by it and may call for such other reports as the Board may from time to time require. Any such bank which (A) maintains procedures reasonably adapted to avoid any inadvertent error and, unintentionally and as a result of such an error, fails to make or publish any report required under this paragraph, within the period of time specified by the Corporation, or submits or publishes any false or misleading report or information, or (B) inadvertently transmits or publishes any report which is minimally late, shall be subject to a penalty of not more than $2,000 for each day during which such failure continues or such false or misleading information is not corrected. Such bank shall have the burden of proving that an error was inadvertent and that a report was inadvertently transmitted or published late. Any such bank which fails to make or publish any report required under this paragraph, within the period of time specified by the Corporation, or submits or publishes any false or misleading report or information, in a manner not described in the 2nd preceding sentence shall be subject to a penalty of not more than $20,000 for each d
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1817
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Comptroller of the Currency**
(1) **In general** — The Comptroller of the Currency may, by regulation or order, impose restrictions or requirements on relationships or transactions between a national bank and a subsidiary of the national bank that the Comptroller finds are—
(A) consistent with the purposes of this Act, title LXII of the Revised Statutes of the United States, and other Federal law applicable to national banks; and
(B) appropriate to avoid any significant risk to the safety and soundness of insured depository institutions or the Deposit Insurance Fund or other adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices.
(2) **Review** — The Comptroller of the Currency shall regularly—
(A) review all restrictions or requirements established pursuant to paragraph (1) to determine whether there is a continuing need for any such restriction or requirement to carry out the purposes of the Act, including the avoidance of any adverse effect referred to in paragraph (1)(B); and
(B) modify or eliminate any such restriction or requirement the Comptroller finds is no longer required for such purposes.
**(b) Board of Governors of the Federal Reserve System**
(1) **In general** — The Board of Governors of the Federal Reserve System may, by regulation or order, impose restrictions or requirements on relationships or transactions—
(A) between a depository institution subsidiary of a bank holding company and any affiliate of such depository institution (other than a subsidiary of such institution); or
(B) between a State member bank and a subsidiary of such bank;
if the Board makes a finding described in paragraph (2) with respect to such restriction or requ
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1828a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** An appropriate Federal banking agency, with the concurrence of the Attorney General, may pay a reward to a person who provides original information which leads to—
(1) recovery of a criminal fine, restitution, or civil penalty—
(A) under—
(i) this chapter;
(ii) the Federal Credit Union Act [[12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.];
(iii) section 93(b), 164, or 481 to 485 of this title;
(iv) the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.];
(v) the Bank Holding Company Act Amendments of 1970;
(vi) 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.];
(vii) the Home Owners’ Loan Act [[12 U.S.C. 1461](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1461&num=0&edition=prelim) et seq.]; or
(viii) [section 3663 of title 18](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title18-section3663&num=0&edition=prelim) pursuant to a conviction for an offense referred to in subparagraph (B) of this paragraph,
(B) pursuant to a conviction for an offense under section 215, 656, 657, 1005, 1006, 1007, 1014, 1341, 1343, or 1344 of title 18 affecting a depository institution insured by the Federal Deposit Insurance Corporation, or for a conspiracy to commit such an offense; or
(C) under [section 1833a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1833a&num=0&edition=prelim); or
(2) a forfeiture under section 981 or 982 of title 18 that
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1831k
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Notwithstanding any other provision of law, the Corporation, the Board of Governors of the Federal Reserve System, the Resolution Trust Corporation, any other agency, department, and instrumentality of the United States, and any corporation owned or controlled by the United States may not, directly or indirectly, make any payment or provide any assistance, guarantee, or transfer under this chapter or any other provision of law in connection with any insured depository institution which would have the direct or indirect effect of satisfying, in whole or in part, any claim against the institution for obligations of the institution which would constitute deposits as defined in section 1813(l) of this title but for subparagraphs (A) and (B) of section 1813(l)(5) of this title.
**(b) Exception** Subsection (a) shall not apply to any payment, assistance, guarantee, or transfer made or provided by the Corporation if the Board of Directors determines in writing that such action is not inconsistent with any requirement of [section 1823(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1823/c&num=0&edition=prelim).
**(c) Discount window lending** No provision of this section shall be construed as prohibiting any Federal Reserve bank from making advances or otherwise extending credit pursuant to the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.] to any insured depository institution to the extent that such advance or extension of credit is consistent with the conditions and limitations imposed under section 10B of such Act [[12 U.S.C. 347b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section34
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1831r
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