group of persons
(9) Reporting of stock loans.— (A) Report required .— Any foreign bank, or any affiliate thereof, that has credit outstanding to any person or group of persons which is secured, directly or indirectly, by shares of an insured depository institution shall file a consolidated report with the appropriate Federal banking agency for such insured depository institution if the extensions of credit by the foreign bank or any affiliate thereof, in the aggregate, are secured, directly or indirectly, by 25 percent or more of any class of shares of the same insured depository institution. (B) Definitions .— For purposes of this paragraph, the following definitions shall apply: (i) Foreign bank .— The terms “foreign bank” and “affiliate” have the same meanings as in section 3101 of this title . (ii) Credit outstanding .— The term “credit outstanding” includes— (I) any loan or extension of credit, (II) the issuance of a guarantee, acceptance, or letter of credit, including an endorsement or standby letter of credit, and (III) any other type of transaction that extends credit or financing to the person or group of persons. (iii) Group of persons .— The term “group of persons” includes any number of persons that the foreign bank or any affiliate thereof reasonably believes— (I) are acting together, in concert, or with one another to acquire or control shares of the same insured depository institution, including an acquisition of shares of the same insured depository institution at approximately the same time under substantially the same terms; or (II) have made, or propose to make, a joint filing under section 78m of title 15 regarding ownership of the shares of the same insured depository institution. (C) Inclusion of shares held by the financial institution .— Any shares of the insured depository institution held by the foreign bank or any affiliate thereof as principal shall be included in the calculation of the number of shares in which the foreign bank or any affiliate thereof has a security interest for purposes of subparagraph (A). (D) Report requirements.— (i) Timing of report .— The report required under this paragraph shall be a consolidated report on behalf of the foreign bank and all affiliates thereof, and shall be filed in writing within 30 days of the date on which the foreign bank or affiliate thereof first believes that the security for any outstanding credit consists of 25 percent or more of any class of shares of an insured depository institution. (ii) Content of report .— The report under this paragraph shall indicate the number and percentage of shares securing each applicable extension of credit, the identity of the borrower, and the number of shares held as principal by the foreign bank and any affiliate thereof. (iii) Copy to other agencies .— A copy of any report under this paragraph shall be filed with the appropriate Federal banking agency for the foreign bank or any affiliate thereof (if other than the agency receiving the report under this paragraph). (iv) Other information .— Each appropriate Federal banking agency may require any additional information necessary to carry out the agency’s supervisory responsibilities. (E) Exceptions.— (i) Exception where information provided by borrower .— Notwithstanding subparagraph (A), a foreign bank or any affiliate thereof shall not be required to report a transaction under this paragraph if the person or group of persons referred to in such subparagraph has disclosed the amount borrowed from such foreign bank or any affiliate thereof and the security interest of the foreign bank or any affiliate thereof to the appropriate Federal banking agency for the insured depository institution in connection with a notice filed under this subsection, an application filed under the Bank Holding Company Act of 1956 [ 12 U.S.C. 1841 et seq.], section 1467a of this title , or any other application filed with the appropriate Federal banking agency for the insured depository institution as a substitute for a notice under this subsection, such as an application for deposit insurance, membership in the Federal Reserve System, or a national bank charter. (ii) Exception for shares owned for more than 1 year .— Notwithstanding subparagraph (A), a foreign bank and any affiliate thereof shall not be required to report a transaction involving— (I) a person or group of persons that has been the owner or owners of record of the stock for a period of 1 year or more; or (II) stock issued by a newly chartered bank before the bank’s opening.