Escrow agreement

Escrow agreement means any agreement issued in connection with a call or put option under which a bank or any person designated as a control location under paragraph of SEC Rule 15c3-3 (17 CFR 240.15c3-3(c)), holding the underlying asset or required cash or cash equivalents, is obligated to deliver to the creditor (in the case of a call option) or accept from the creditor (in the case of a put option) the underlying asset or required cash or cash equivalent against payment of the exercise price upon exercise of the call or put.

Source

12 CFR § 220.2


Scoping language

The terms used in this part have the meanings given them in section 3 of the Act or as defined in this section as follows:

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