12 CFR 13.2 - Definitions.

§ 13.2 Definitions.

(a)Bank that is a government securities broker or dealer means a national bank that has filed notice, or is required to file notice, as a government securities broker or dealer pursuant to section 15C of the Securities Exchange Act ( 15 U.S.C. 78o-5) and Department of the Treasury rules under section 15C ( 17 CFR 400.1(d) and part 401).

(b)Customer does not include a broker or dealer or a government securities broker or dealer.

(c)Government security has the same meaning as this term has in section 3(a)(42) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a)(42)).

(d)Non-institutional customer means any customer other than:

(1) A bank, savings association, insurance company, or registered investment company;

(2) An investment adviser registered under section 203 of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b-3); or

(3) Any entity (whether a natural person, corporation, partnership, trust, or otherwise) with total assets of at least $50 million.