banking entity

(1)The term “banking entity” means any insured depository institution (as defined in), any company that controls an insured depository institution, or that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978, and any affiliate or subsidiary of any such entity. For purposes of this paragraph, the term “insured depository institution” does not include an institution— (A)that functions solely in a trust or fiduciary capacity, if— (i)all or substantially all of the deposits of such institution are in trust funds and are received in a bona fide fiduciary capacity; (ii)no deposits of such institution which are insured by the Federal Deposit Insurance Corporation are offered or marketed by or through an affiliate of such institution; (iii)such institution does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others or make commercial loans; and (iv)such institution does not— (I)obtain payment or payment related services from any Federal Reserve bank, including any service referred to insection 248a of this title; or (II)exercise discount or borrowing privileges pursuant tosection 461(b)(7) of this title; or (B)that does not have and is not controlled by a company that has— (i)more than $10,000,000,000 in total consolidated assets; and (ii)total trading assets and trading liabilities, as reported on the most recent applicable regulatory filing filed by the institution, that are more than 5 percent of total consolidated assets.

Source

12 USC § 1851(h)(1)


Scoping language

For purposes of this paragraph
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