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For purposes of this part, the
following definitions shall apply:
(a) Appropriate federal banking agency has the same meaning as in
section 3 of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C.
1813(q)).
(b) Critically undercapitalized insured depository institution
means any insured depository institution as defined in section 3 of
the FDI Act (12 U.S.C. 1813(c)(2)) that is deemed to be critically
undercapitalized under section 38 of the FDI Act (12 U.S.C.
1831o(b)(1)(E)) and its implementing regulations.
(c)(1) Depository institution means an institution that maintains
reservable transaction accounts or nonpersonal time deposits and is:
(i) An insured bank as defined in section 3 of the FDI Act (12
U.S.C. 1813(h)) or a bank that is eligible to make application to
become an insured bank under section 5 of such act (12 U.S.C. 1815);
(ii) A mutual savings bank as defined in section 3 of the FDI Act
(12 U.S.C. 1813(f)) or a bank that is eligible to make application to
become an insured bank under section 5 of such act (12 U.S.C. 1815);
(iii) A savings bank as defined in section 3 of the FDI Act (12
U.S.C. 1813(g)) or a bank that is eligible to make application to
become an insured bank under section 5 of such act (12 U.S.C. 1815);
(iv) An insured credit union as defined in section 101 of the
Federal Credit Union Act (12 U.S.C. 1752(7)) or a credit union that is
eligible to make application to become an insured credit union
pursuant to section 201 of such act (12 U.S.C. 1781);
(v) A member as defined in section 2 of the Federal Home Loan
Bank Act (12 U.S.C. 1422(4)); or
(vi) A savings association as defined in section 3 of the FDI Act
(12 U.S.C. 1813(b)) that is an insured depository institution as
defined in section 3 of the act (12 U.S.C. 1813(c)(2)) or is eligible
to apply to become an insured depository institution under section 5
of the act (12 U.S.C. 15(a)).
(2) The term depository institution does not include a financial
institution that is not required to maintain reserves under Sec.
204.1(c)(4) of Regulation D (12 CFR 204.1(c)(4)) because it is
organized solely to do business with other financial institutions, is
owned primarily by the financial institutions with which it does
business, and does not do business with the general public.
(d) Transaction account and nonpersonal time deposit have the
meanings specified in Regulation D (12 CFR part 204).
(e) Undercapitalized insured depository institution means any
insured depository institution as defined in section 3 of the FDI Act
(12 U.S.C. 1813(c)(2)) that:
(1) Is not a critically undercapitalized insured depository
institution; and
(2)(i) Is deemed to be undercapitalized under section 38 of the
FDI Act (12 U.S.C. 1831o(b)(1)(C)) and its implementing regulations;
or
(ii) Has received from its appropriate federal banking agency a
composite CAMELS rating of 5 under the Uniform Financial Institutions
Rating System (or an equivalent rating by its appropriate federal
banking agency under a comparable rating system) as of the most recent
examination of such institution.
(f) Viable, with respect to a depository institution, means that
the Board of Governors or the appropriate federal banking agency has
determined, giving due regard to the economic conditions and
circumstances in the market in which the institution operates, that
the institution is not critically undercapitalized, is not expected to
become critically undercapitalized, and is not expected to be placed
in conservatorship or receivership. Although there are a number of
criteria that may be used to determine viability, the Board of
Governors believes that ordinarily an undercapitalized insured
depository institution is viable if the appropriate federal banking
agency has accepted a capital restoration plan for the depository
institution under 12 U.S.C. 1831o(e)(2) and the depository institution
is complying with that plan.
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