United States Code
USC most recently checked for updates: Feb 27, 2020
For the purposes of this chapter—
the term “appropriate Federal financial supervisory agency” means—
the Comptroller of the Currency with respect to national banks and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation);
the Board of Governors of the Federal Reserve System with respect to State chartered banks which are members of the Federal Reserve System, bank holding companies, and savings and loan holding companies;
the Federal Deposit Insurance Corporation with respect to State chartered banks and savings banks which are not members of the Federal Reserve System and the deposits of which are insured by the Corporation, and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation).1
1So in original. The period probably should be a semicolon.
the term “regulated financial institution” means an insured depository institution (as defined in section 1813 of this title); and
the term “application for a deposit facility” means an application to the appropriate Federal financial supervisory agency otherwise required under Federal law or regulations thereunder for—
a charter for a national bank or Federal savings and loan association;
deposit insurance in connection with a newly chartered State bank, savings bank, savings and loan association or similar institution;
the establishment of a domestic branch or other facility with the ability to accept deposits of a regulated financial institution;
the relocation of the home office or a branch office of a regulated financial institution;
the merger or consolidation with, or the acquisition of the assets, or the assumption of the liabilities of a regulated financial institution requiring approval under section 1828(c) of this title or under regulations issued under the authority of title IV 2
of the National Housing Act [12 U.S.C. 1724 et seq.]; or
2See References in Text note below.
A financial institution whose business predominately consists of serving the needs of military personnel who are not located within a defined geographic area may define its “entire community” to include its entire deposit customer base without regard to geographic proximity.
cite as: 12 USC 2902