banking institution
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 337 U.S. 472 - Propper v. Clark · 1949Most cited · 815 citing opinions
The term 'banking institution' shall include any person engaged primarily or incidentally in the business of banking, of granting or transferring credits, or of purchasing or selling foreign exchange or procuring purchasers and sellers thereof, as principal or agent, or any person holding credits for others as a direct or incidental part of his business, or brokers; and each principal, agent, home office, branch or correspondent of any person so engaged shall be regarded as a separate 'banking institution.
United States Code
12 U.S.C. § 3902 — for purposes of this chapter (3 versions over time)
the term "banking institution" means—
(A) (i) an insured bank as defined in section 1813(h) of this title or any subsidiary of an insured bank;
(ii) an Edge Act corporation organized under section 25(a) 1 of the Federal Reserve Act [12 U.S.C. 611 et seq.]; and
(iii) an Agreement Corporation operating under section 25 of the Federal Reserve Act [12 U.S.C. 601 et seq.]; and
(B) to the extent determined by the appropriate Federal banking agency, any agency or branch of a foreign bank, and any commercial lending company owned or controlled by one or more foreign banks or companies that control a foreign bank as those terms are defined in the International Banking Act of 1978 [12 U.S.C. 3101 et seq.]. The term "banking institution" shall not include a foreign bank.