Guernsey Financial Institution definition

Guernsey Financial Institution means (i) any Financial Institution resident in Guernsey, but excluding any branches of such Financial Institution that are located outside Guernsey, and (ii) any branch of a Financial Institution not resident in Guernsey, if such branch is located in Guernsey.
Sample 1Sample 2

Examples of Guernsey Financial Institution in a sentence

  • An Entity that is a Guernsey Financial Institution solely because it is an Investment Entity, provided that each direct holder of an Equity Interest in the Entity is an exempt beneficial owner, and each direct holder of a debt interest in such Entity is either a Depository Institution (with respect to a loan made to such Entity) or an exempt beneficial owner.

  • This is anticipated to be through a simple ‘tick box’ confirmation at the time the Reporting Guernsey Financial Institution submits its reports.

  • A trust resident in Guernsey to the extent that the trustee of the trust is a Reporting Guernsey Financial Institution and reports all information required to be reported pursuant to the Agreement with respect to all UK Reportable Accounts of the trust.

  • A Guernsey Financial Institution may apply its existing normal operating procedures to classify an account as dormant.

  • For US Reportable Accounts, if a Collective Investment Vehicle takes advantage of the Sponsored Investment Entity Financial Institution categories, it is a Non- Reporting Guernsey Financial Institution.

  • Where the Estate is established by a Grant of Probate in respect of deceased persons account(s) the Reporting Guernsey Financial Institution is required (as per Section 12.2.1) to identify the Controlling Persons of the Estate.

  • The Reporting Guernsey Financial Institution/Guernsey resident trustee must undertake the reporting obligations in respect of a Guernsey resident trust, where required, unless it has actual knowledge that the information that is required to be reported under the Agreements is being reported by another Financial Institution, whether that Financial Institution is a Guernsey Financial Institution or not.

  • The Reporting Guernsey Financial Institution, which in the case of a professionally managed trust is the trustee, has to report gross payments and movement of assets from a UK source or from a jurisdiction that cannot be determined to the Reportable Account, i.e. the equity interest in the trust.

  • However, where such subsidiaries and branches act as introducers with regard to a Financial Account, the relevant account is held and maintained in the Guernsey by a Guernsey Financial Institution and is subject to Guernsey regulatory requirements, the account will be within the scope of the Guernsey Agreements.

  • Accounts of deceased persons will not be Financial Accounts if the Guernsey Financial Institution that maintains them has received and is in possession of a formal notification of the account holder’s death (for example a copy of the deceased’s death certificate, a copy of the coroner’s interim certificate or a copy of the will).

Related to Guernsey Financial Institution

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from 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.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from 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.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • 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.

  • Participating Financial Institution means a financial institution participating in Interac e-Transfer Services, Online Payment Services, or Western Union Services, as the case may be.

  • Approved Financial Institution means any bank approved by Exchange in accordance with its credit review procedures or policies;

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • Licensed financial institution means a financial institution issued a license under this act.

  • Qualified United States financial institution means an institution that:

  • Financial Institutions has the meaning set forth in the preamble in this Agreement.

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

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • 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.

  • Nonparticipating Financial Institution means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a [FATCA Partner] Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution identified as a Nonparticipating Financial Institution pursuant to paragraph 2 of Article 5.

  • Partner Jurisdiction Financial Institution means (i) any Financial Institution established in a Partner Jurisdiction, but excluding any branch of such Financial Institution that is located outside the Partner Jurisdiction, and (ii) any branch of a Financial Institution not established in the Partner Jurisdiction, if such branch is located in the Partner Jurisdiction.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

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

  • Educational institution means a University or any educational institution recognized by the State Government, a University or other competent authority;

  • Educational institutions means schools and suchlike institutions;

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.