US Financial Institution definition
US Financial Institution means a financial institution as that term is defined in 31 CFR 1010.100(t), subsections (1), (2), and (8), that is required to comply with the regulations issued by the United States Department of Treasury under the Bank Secrecy Act including, but not limited to, the anti-money laundering program and customer identification program rules.
US Financial Institution means any U.S. Person and any of its affiliates, branches, offices, or agents incorporated, organized, or located in the United States or Territory or Insular Possession of the United States that is engaged in the business of: (i) accepting deposits; (ii) making, granting, transferring, holding, or brokering remittances, loans, or credits; or (iii) purchasing or selling foreign exchange, securities, commodity futures or options, or procuring purchases and sellers thereof, whether as principal or agent, and this term applies to affiliates, branches, offices, and agencies of any foreign financial institution that are located in the United States or Territory or Insular Possession of the United States, but not such foreign financial institution’s affiliates, branches, offices, or agencies located outside the United States and Territory or Insular Possession of the United States;
US Financial Institution means a U.S. Person that is a “financial institution”, as such term is defined in 26 C.F.R. 1.1.165-12(c)(1)(iv).
Examples of US Financial Institution in a sentence
A trust established under the laws of San Marino to the extent that the trustee of the trust is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI and reports all information required to be reported pursuant to the Agreement with respect to all U.S. Accounts of the trust.
A trust established under the laws of Malaysia to the extent that the trustee of the trust is a Reporting U.S. Financial Institution, Reporting Model 1 FFI, or Participating FFI and reports all information required to be reported pursuant to the Agreement with respect to all U.S. Reportable Accounts of the trust.
More Definitions of US Financial Institution
US Financial Institution means: 1. Any person, located in the United States, engaged in the business of banking; 2. A Federal Reserve Bank; 3. A Federal Home Loan Bank; and 4. To the extent it acts as a payor, the U.S. Treasury, the U.S. Postal Service, or a State or local government.
US Financial Institution means a commercial bank domiciled in the United States of America with a branch in New York City and rated “A” or better by Standard & Poor’s Rating Services, a division of The McGraw Hill Companies, Inc., and “A” or better by ▇▇▇▇▇’▇ Investor Services, Inc.