Custodial banking organization

Custodial banking organization means:
(1) A Board-regulated institution that is:
(i) A top-tier depository institution holding company domiciled in the United States that has assets under custody that are at least 30 times the amount of the depository institution holding company's total assets; or
(ii) A state member bank that is a subsidiary of a depository institution holding company described in paragraph (1)(i) of this definition.
(2) For purposes of this definition, total assets are equal to the average of the banking organization's total consolidated assets for the four most recent calendar quarters. Assets under custody are equal to the average of the Board-regulated institution's assets under custody for the four most recent calendar quarters.

Source

12 CFR § 217.2


Scoping language

As used in this part:

Is this correct? or