(4) Foreign banking organizations, as defined in § 211.21(o).
(e) Export trading company means a company that is exclusively engaged in activities related to international trade and, by engaging in one or more export trade services, derives:
(1) At least one-third of its revenues in each consecutive four-year period from the export of, or from facilitating the export of, goods and services produced in the United States by persons other than the export trading company or its subsidiaries; and
(2) More revenues in each four-year period from export activities as described in paragraph (e)(1) of this section than it derives from the import, or facilitating the import, into the United States of goods or services produced outside the United States. The four-year period within which to calculate revenues derived from its activities under this section shall be deemed to have commenced with the first fiscal year after the respective export trading company has been in operation for two years.
(f) Revenues shall include net sales revenues from exporting, importing, or third-party trade in goods by the export trading company for its own account and gross revenues derived from all other activities of the export trading company.
(g) Subsidiary has the same meaning as in section 2(d) of the BHC Act (12 U.S.C. 1841(d) ).
(h) Well capitalized has the same meaning as in § 225.2(r) of Regulation Y ( 12 CFR 225.2(r) ).
(i) Well managed has the same meaning as in § 225.2(s) of Regulation Y ( 12 CFR 225.2(s) ).
Title 12 published on 2012-01-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.