Private banking account
Private banking account means an account (or any combination of accounts) maintained at a covered financial institution that:
(1) Requires a minimum aggregate deposit of funds or other assets of not less than $1,000,000;
(2) Is established on behalf of or for the benefit of one or more non-U.S. persons who are direct or beneficial owners of the account; and
(3) Is assigned to, or is administered or managed by, in whole or in part, an officer, employee, or agent of a covered financial institution acting as a liaison between the covered financial institution and the direct or beneficial owner of the account.