27f of this title, the term “bank” means—
(1)any depository institution (as defined in section
1813(c) of title
(2)any foreign bank or branch or agency of a foreign bank (each as defined in section
3101 of title
(3)any Federal or State credit union (as defined in section
1752 of title
(4)any corporation organized under section 25A of the Federal Reserve Act [12 U.S.C. 611 et seq.];
(5)any corporation operating under section 25 of the Federal Reserve Act [12 U.S.C. 601 et seq.];
(6)any trust company; or
(7)any subsidiary of any entity described in paragraph  (1) through (6) of this subsection, if the subsidiary is regulated as if the subsidiary were part of the entity and is not a broker or dealer (as such terms are defined in section
78c of title
15) or a futures commission merchant (as defined in section
1a of this title).
(b) Identified banking product
27f of this title, the term “identified banking product” shall have the same meaning as in paragraphs (1) through (5) of section 206(a) of the Gramm-Leach-Bliley Act, except that in applying such section for purposes of sections
27f of this title—
(1)the term “bank” shall have the meaning given in subsection (a) of this section; and
(2)the term “qualified investor” means eligible contract participant (as defined in section
1a of this title, as in effect on December 21, 2000).
(c) Hybrid instrument
27f of this title, the term “hybrid instrument” means an identified banking product not excluded by section
27a of this title, offered by a bank, having one or more payments indexed to the value, level, or rate of, or providing for the delivery of, one or more commodities (as defined in section
1a of this title).
 So in original. Probably should be “paragraphs”.
Section 25A of the Federal Reserve Act, referred to in subsec. (a)(4), is classified to subchapter II (§ 611 et seq.) of chapter
6 of Title
12, Banks and Banking. Section 25 of the Federal Reserve Act, referred to in subsec. (a)(5), is classified to subchapter I (§ 601 et seq.) of chapter
6 of Title
Section 206 of the Gramm-Leach-Bliley Act, referred to in subsec. (b), is section 206 ofPub. L. 106–102which is set out as a note under section
78c of Title
15, Commerce and Trade.
Section was enacted as part of the Legal Certainty for Bank Products Act of 2000, and also as part of the Commodity Futures Modernization Act of 2000, and not as part of the Commodity Exchange Act which comprises this chapter.
Subsec. (d). Pub. L. 111–203, § 725(g)(1)(B), struck out subsec. (d) which defined covered swap agreement.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203effective on the later of 360 days after July 21, 2010, or, to the extent a provision of subtitle A (§§ 711–754) of title VII of Pub. L. 111–203requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see section 754 ofPub. L. 111–203, set out as a note under section
1a of this title.
For short title of sections
27f of this title as the “Legal Certainty for Bank Products Act of 2000”, see section
1(a)(5) [title IV, § 401] of Pub. L. 106–554, set out as a Short Title of 2000 Amendment note under section
1 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
LII has no control over and does not endorse any external Internet site that contains links to or references LII.