12 U.S.C. § 5301 | Definitions

As used in this Act, the following definitions shall apply, except as the context otherwise requires or as otherwise specifically provided in this Act:

(1)

Affiliate

section 1813 of this titleThe term “affiliate” has the same meaning as in .

(2)

Appropriate Federal banking agency

section 1813(q) of this title1

1 See References in Text note below.

On and after the transfer date, the term “appropriate Federal banking agency” has the same meaning as in , as amended by title III.

(3)

Board of Governors

The term “Board of Governors” means the Board of Governors of the Federal Reserve System.

(4)

Bureau

¹The term “Bureau” means the Bureau of Consumer Financial Protection established under title X.

(5)

Commission

The term “Commission” means the Securities and Exchange Commission, except in the context of the Commodity Futures Trading Commission.

(6)

Commodity futures terms

7 U.S.C. 1 7 U.S.C. 1aThe terms “futures commission merchant”, “swap”, “swap dealer”, “swap execution facility”, “derivatives clearing organization”, “board of trade”, “commodity trading advisor”, “commodity pool”, and “commodity pool operator” have the same meanings as given the terms in section 1a of the Commodity Exchange Act ( et seq.) [].

(7)

Corporation

The term “Corporation” means the Federal Deposit Insurance Corporation.

(8)

Council

The term “Council” means the Financial Stability Oversight Council established under subchapter I.

(9)

Credit union

section 1752 of this titleThe term “credit union” means a Federal credit union, State credit union, or State-chartered credit union, as those terms are defined in .

(10)

Federal banking agency

The term—

(A)

“Federal banking agency” means, individually, the Board of Governors, the Office of the Comptroller of the Currency, and the Corporation; and

(B)

“Federal banking agencies” means all of the agencies referred to in subparagraph (A), collectively.

(11)

Functionally regulated subsidiary

section 1844(c)(5) of this titleThe term “functionally regulated subsidiary” has the same meaning as in .

(12)

Primary financial regulatory agency

The term “primary financial regulatory agency” means—

(A)

section 1813(q) of this title the appropriate Federal banking agency, with respect to institutions described in , except to the extent that an institution is or the activities of an institution are otherwise described in subparagraph (B), (C), (D), or (E);

(B)

the Securities and Exchange Commission, with respect to—

(i)

15 U.S.C. 78a any broker or dealer that is registered with the Commission under the Securities Exchange Act of 1934 [ et seq.], with respect to the activities of the broker or dealer that require the broker or dealer to be registered under that Act;

(ii)

15 U.S.C. 80a–1 any investment company that is registered with the Commission under the Investment Company Act of 1940 [ et seq.], with respect to the activities of the investment company that require the investment company to be registered under that Act;

(iii)

15 U.S.C. 80b–1 any investment adviser that is registered with the Commission under the Investment Advisers Act of 1940 [ et seq.], with respect to the investment advisory activities of such company and activities that are incidental to such advisory activities;

(iv)

any clearing agency registered with the Commission under the Securities Exchange Act of 1934, with respect to the activities of the clearing agency that require the agency to be registered under such Act;

(v)

any nationally recognized statistical rating organization registered with the Commission under the Securities Exchange Act of 1934;

(vi)

any transfer agent registered with the Commission under the Securities Exchange Act of 1934;

(vii)

any exchange registered as a national securities exchange with the Commission under the Securities Exchange Act of 1934;

(viii)

any national securities association registered with the Commission under the Securities Exchange Act of 1934;

(ix)

any securities information processor registered with the Commission under the Securities Exchange Act of 1934;

(x)

the Municipal Securities Rulemaking Board established under the Securities Exchange Act of 1934;

(xi)

15 U.S.C. 7211 the Public Company Accounting Oversight Board established under the Sarbanes-Oxley Act of 2002 ( et seq.);

(xii)

15 U.S.C. 78aaa the Securities Investor Protection Corporation established under the Securities Investor Protection Act of 1970 ( et seq.); and

(xiii)

any security-based swap execution facility, security-based swap data repository, security-based swap dealer or major security-based swap participant registered with the Commission under the Securities Exchange Act of 1934, with respect to the security-based swap activities of the person that require such person to be registered under such Act;

(C)

the Commodity Futures Trading Commission, with respect to—

(i)

7 U.S.C. 1 any futures commission merchant registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.), with respect to the activities of the futures commission merchant that require the futures commission merchant to be registered under that Act;

(ii)

7 U.S.C. 1 any commodity pool operator registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.), with respect to the activities of the commodity pool operator that require the commodity pool operator to be registered under that Act, or a commodity pool, as defined in that Act;

(iii)

7 U.S.C. 1 any commodity trading advisor or introducing broker registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.), with respect to the activities of the commodity trading advisor or introducing broker that require the commodity trading adviser or introducing broker to be registered under that Act;

(iv)

7 U.S.C. 1 any derivatives clearing organization registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.), with respect to the activities of the derivatives clearing organization that require the derivatives clearing organization to be registered under that Act;

(v)

7 U.S.C. 1 any board of trade designated as a contract market by the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.);

(vi)

7 U.S.C. 1 any futures association registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.);

(vii)

7 U.S.C. 1 any retail foreign exchange dealer registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.), with respect to the activities of the retail foreign exchange dealer that require the retail foreign exchange dealer to be registered under that Act;

(viii)

7 U.S.C. 1 any swap execution facility, swap data repository, swap dealer, or major swap participant registered with the Commodity Futures Trading Commission under the Commodity Exchange Act ( et seq.) with respect to the swap activities of the person that require such person to be registered under that Act; and

(ix)

7 U.S.C. 1 any registered entity under the Commodity Exchange Act ( et seq.), with respect to the activities of the registered entity that require the registered entity to be registered under that Act;

(D)

the State insurance authority of the State in which an insurance company is domiciled, with respect to the insurance activities and activities that are incidental to such insurance activities of an insurance company that is subject to supervision by the State insurance authority under State insurance law; and

(E)

the Federal Housing Finance Agency, with respect to Federal Home Loan Banks or the Federal Home Loan Bank System, and with respect to the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation.

(13)

Prudential standards

section 5365 of this titleThe term “prudential standards” means enhanced supervision and regulatory standards developed by the Board of Governors under .

(14)

Secretary

The term “Secretary” means the Secretary of the Treasury.

(15)

Securities terms

The—

(A)

15 U.S.C. 78c terms “broker”, “dealer”, “issuer”, “nationally recognized statistical rating organization”, “security”, and “securities laws” have the same meanings as in section 3 of the Securities Exchange Act of 1934 ();

(B)

15 U.S.C. 80b–2 term “investment adviser” has the same meaning as in section 202 of the Investment Advisers Act of 1940 (); and

(C)

15 U.S.C. 80a–3 term “investment company” has the same meaning as in section 3 of the Investment Company Act of 1940 ().

(16)

State

The term “State” means any State, commonwealth, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, or the United States Virgin Islands.

(17)

Transfer date

section 5411 of this titleThe term “transfer date” means the date established under .

(18)

Other incorporated definitions

(A)

Federal Deposit Insurance Act

section 1813 of this titleThe terms “bank”, “bank holding company”, “control”, “deposit”, “depository institution”, “Federal depository institution”, “Federal savings association”, “foreign bank”, “including”, “insured branch”, “insured depository institution”, “national member bank”, “national nonmember bank”, “savings association”, “State bank”, “State depository institution”, “State member bank”, “State nonmember bank”, “State savings association”, and “subsidiary” have the same meanings as in .

(B)

Holding companies

The term—

(i)

section 1841 of this title “bank holding company” has the same meaning as in ;

(ii)

section 1841(p) of this title “financial holding company” has the same meaning as in ; and

(iii)

section 1467a(a) of this title “savings and loan holding company” has the same meaning as in .

Pub. L. 111–203, § 2July 21, 2010124 Stat. 1386 (, , .)

Editorial Notes

References in Text

Pub. L. 111–203July 21, 2010124 Stat. 1376 This Act, referred to in text, is , , , known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, which enacted this chapter and chapters 108 (§ 8201 et seq.) and 109 (§ 8301 et seq.) of Title 15, Commerce and Trade, and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of this Act to the Code, see Short Title note below and Tables.

Pub. L. 111–203July 21, 2010124 Stat. 1520 Section 312(c)(1) of title III of Pub. L. 111–203 section 1813(q) of this titleTitle III, referred to in par. (2), is title III of , , . amended .

Pub. L. 111–203July 21, 2010124 Stat. 1955 Title X, referred to in par. (4), is title X of , , , known as the Consumer Financial Protection Act of 2010, which enacted subchapter V (§ 5481 et seq.) of this chapter, and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of title X to the Code, see Short Title note below and Tables.

Pub. L. 111–203July 21, 2010124 Stat. 1391 Subchapter I, referred to in par. (8), was in the original “title I”, meaning title I of , , , known as the Financial Stability Act of 2010, which is classified principally to subchapter I (§ 5311 et seq.) of this chapter. For complete classification of title I to the Code, see Short Title note below and Tables.

act June 6, 1934, ch. 404 48 Stat. 881 section 78a of Title 15The Securities Exchange Act of 1934, referred to in par. (12)(B), is , , which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see and Tables.

act Aug. 22, 1940, ch. 686 54 Stat. 789 section 80a–51 of Title 15The Investment Company Act of 1940, referred to in par. (12)(B)(ii), is title I of , , which is classified generally to subchapter I (§ 80a–1 et seq.) of chapter 2D of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see and Tables.

act Aug. 22, 1940, ch. 686 54 Stat. 847 section 80b–20 of Title 15The Investment Advisers Act of 1940, referred to in par. (12)(B)(iii), is title II of , , which is classified generally to subchapter II (§ 80b–1 et seq.) of chapter 2D of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see and Tables.

Pub. L. 107–204July 30, 2002116 Stat. 745 section 7201 of Title 15The Sarbanes-Oxley Act of 2002, referred to in par. (12)(B)(xi), is , , , which is classified principally to chapter 98 (§ 7201 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 91–598Dec. 30, 197084 Stat. 1636 section 78aaa of Title 15The Securities Investor Protection Act of 1970, referred to in par. (12)(B)(xii), is , , , which is classified generally to chapter 2B–1 (§ 78aaa et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see and Tables.

act Sept. 21, 1922, ch. 369 42 Stat. 998 section 1 of Title 7The Commodity Exchange Act, referred to in par. (12)(C), is , , which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see and Tables.

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 111–203, § 4July 21, 2010124 Stat. 1390

July 21, 2010“Except as otherwise specifically provided in this Act [see Short Title note below] or the amendments made by this Act, this Act and such amendments shall take effect 1 day after the date of enactment of this Act [].”

, , , provided that:

Short Title of 2017 Amendment

Pub. L. 115–61, § 1Sept. 27, 2017131 Stat. 1158

section 5321 of this title“This Act [amending ] may be cited as the ‘Financial Stability Oversight Council Insurance Member Continuity Act’.”

, , , provided that:

Short Title of 2014 Amendment

Pub. L. 113–279, § 1Dec. 18, 2014128 Stat. 3017

section 5371 of this title“This Act [amending ] may be cited as the ‘Insurance Capital Standards Clarification Act of 2014’.”

, , , provided that:

Pub. L. 113–173, § 1Sept. 26, 2014128 Stat. 1899

section 5514 of this title“This Act [amending ] may be cited as the ‘Examination and Supervisory Privilege Parity Act of 2014’.”

, , , provided that:

Short Title

Pub. L. 111–203, § 1(a)July 21, 2010124 Stat. 1376

“This Act [see Tables for classification] may be cited as the ‘Dodd-Frank Wall Street Reform and Consumer Protection Act’.”

, , , provided that:

Pub. L. 111–203, title I, § 101July 21, 2010124 Stat. 1391

o“This title [enacting subchapter I of this chapter and amending sections 1818, 1820, 1833b, and 3105 of this title, sections 3132 and 5314 of Title 5, Government Organization and Employees, and section 78 of Title 15, Commerce and Trade] may be cited as the ‘Financial Stability Act of 2010’.”

, , , provided that:

Pub. L. 111–203, title III, § 300July 21, 2010124 Stat. 1520

section 906 of Title 2losection 3502 of Title 44 section 1441a of this title section 906 of Title 2 section 509 of Title 28“This title [enacting subchapter III of this chapter and sections 4b and 16 of this title, amending sections 1, 11, 248, 461, 481, 482, 1438, 1462 to 1464, 1466a to 1468b, 1470, 1701c, 1701p–1, 1708, 1757, 1785, 1786, 1787, 1812, 1813, 1817, 1818, 1820, 1821, 1823, 1828, 1829, 1831e, 1831j, 1833b, 1833e, 1834, 1841, 1843, 1844, 1861, 1867, 1881, 1882, 1884, 1972, 2709, 2902, 2905, 3206 to 3208, 3332, 4515, and 4517 of this title, , The Congress, sections 78c, 78, 78–5, and 78w of Title 15, Commerce and Trade, sections 212, 657, 981, 982, 1006, 1014, and 1032 of Title 18, Crimes and Criminal Procedure, sections 321 and 714 of Title 31, Money and Finance, sections 4003 and 8105 of Title 42, The Public Health and Welfare, and , Public Printing and Documents, repealing , enacting provisions set out as notes under sections 1, 16, 1438, 1787, 1812, 1817, and 1821 of this title and , and amending provisions set out as notes under sections 1437, 1463, 1464, 1467a, 1707, 1812, and 1818 of this title and , Judiciary and Judicial Procedure] may be cited as the ‘Enhancing Financial Institution Safety and Soundness Act of 2010’.”

, , , provided that:

Pub. L. 111–203, title VIII, § 801July 21, 2010124 Stat. 1802

“This title [enacting subchapter IV of this chapter] may be cited as the ‘Payment, Clearing, and Settlement Supervision Act of 2010’.”

, , , provided that:

Pub. L. 111–203, title X, § 1001July 21, 2010124 Stat. 1955

“This title [see Tables for classification] may be cited as the ‘Consumer Financial Protection Act of 2010’.”

, , , provided that:

Pub. L. 111–203, title XII, § 1201July 21, 2010124 Stat. 2129

section 4719 of this title“This title [enacting subchapter VII of this chapter and ] may be cited as the ‘Improving Access to Mainstream Financial Institutions Act of 2010’.”

, , , provided that:

Executive Documents

Executive Order No. 13772

Feb. 3, 2017Feb. 24, 2021Ex. Ord. No. 13772, , 82 F.R. 9965, which set out Core Principles for regulating the United States financial system, was revoked by Ex. Ord. No. 14018, § 1, , 86 F.R. 11855.