Subsidiary

Subsidiary means any organization that:
(1) Has 25 percent or more of its voting shares directly or indirectly owned, controlled, or held with the power to vote by a company, including a foreign bank or foreign banking organization; or
(2) Is otherwise controlled, or capable of being controlled, by a foreign bank or foreign banking organization.

Source

12 CFR § 211.21

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Scoping language

The definitions contained in 211.1 and 211.2 apply to this subpart, except as a term is otherwise defined in this section:

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