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.
Sample 1Sample 2Sample 3
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;
Sample 1Sample 2Sample 3
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. All other capitalized terms used in this Agreement and not defined herein are defined in your Account Agreement. Other definitions may be set forth elsewhere in this Agreement.
Sample 1Sample 2

Examples of US Financial Institution in a sentence

  • The term Participating FFI also includes a qualified intermediary branch of a Reporting U.S. Financial Institution, unless such branch is a Reporting Model 1 FFI.

  • Payments must be made to the Issuer in U.S. dollars drawn on a U.S. Financial Institution.

  • A Direct Contract PDP Applicant generally must forward confirmation of its establishment and maintenance of an insolvency deposit of at least $100,000, to be held in accordance with CMS requirements by a qualified U.S. Financial Institution.

  • All payments made to the investors of the Financial Institution (other than holders of a de minimis interest) are either cleared through a clearing organization or custodial institution that is a participating Financial Institution, reporting Model 1 Financial Institution, or U.S. financial institution or made through a transfer agent that is a participating Financial Institution, reporting Model 1 Financial Institution, or U.S Financial Institution.

  • Where such accounts are identified, they must be closed, or transferred to a Participating Foreign Financial Institution, Reporting Model 1 Foreign Financial Institution or a US Financial Institution or the Financial Institution must report those accounts as if it were a Reporting UK Financial Institution.

  • If any such Financial Account is discovered, the Financial Institution must either report that account as though the Financial Institution were a Reporting UK Financial Institution, or close the account, or transfer the account to a Participating Foreign Financial Institution, Reporting Model 1 Foreign Financial Institution or a US Financial Institution.

  • The term “Reporting Financial Institution” means a Reporting Indian Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • A trust established under the laws of Singapore 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.

  • The Trust is Trustee documented (UK Trusts Only) For UK resident Trusts that are Investment Entities where the Trustee of the Trust is a Reporting Model 1 Foreign Financial Institution, Participating Foreign Financial Institution or Reporting US Financial Institution, and the Trustee reports all information required with respect to all U.S. Reportable Accounts of the Trust, the Trust itself will be treated as a Non-Reporting UK Financial Institution and will not be required to register with the IRS.

  • GIIN applied for but not yet issued.7. US Financial Institution Global Intermediary Identification Number (GIIN) A GIIN is a unique ID number that non-US financial institutions receive from the IRS when they register as a financial institution for FATCA.


More Definitions of US Financial Institution

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).
Sample 1Sample 2
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 Xxxxx’x Investor Services, Inc.
Sample 1

Related to US Financial Institution

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • Financial institution means a Bank, Development Finance Institution, Non Banking Finance Company, Modaraba or an institution registered under relevant laws to provide financial services within or outside Pakistan.

  • Non-Reporting Financial Institution means any Financial Institution that is: