5 Del. Admin. Code § 1103-2.0 - Definitions

"Bank" means every bank and every corporation conducting a banking business of any kind or plan whose principal place of business is in this State, except a national bank.

"Banking organization" means:

* A bank or bank and trust company organized and existing under the laws of this State;

* A national bank, including a federal savings bank, with its principal office in this State

* An Edge Act corporation organized pursuant to §25(a) of the Federal Reserve Act, 12 U.S.C. § 611 et seq. (an "Edge Act Corporation"), or a state chartered corporation exercising the powers granted thereunto pursuant to an agreement with the Board of Governors of the Federal Reserve System (an "Agreement Corporation"), and maintaining an office in this State;

* A federal branch or agency licensed pursuant to §4 and §5 of the International Banking Act of 1978, 12 U.S.C. § 3101 et seq., to maintain an office in this State;

* A foreign bank branch, foreign bank limited purpose branch or foreign bank agency organized pursuant to Chapter 14 of Title 5, or a resulting branch in this State of a foreign bank authorized pursuant to Chapter 14 of Title 5; or

* A resulting branch in this State of an out-of-state bank, or a branch office in this State of an out-of-state bank.

"International Banking Facility" means a set of asset and liability accounts, segregated on the books of a banking organization, that includes only international banking facility deposits, borrowings and extensions of credit.

"International Banking Transaction" shall mean any of the following transactions, whether engaged in by a banking organization, any foreign branch thereof (established pursuant to 5 Del.C. § 771 or federal law) or any subsidiary corporation directly or indirectly owned by any banking organization:

* The financing of the exportation from, or the importation into, the United States or between jurisdictions abroad of tangible property or services;

* The financing of the production, preparation, storage or transportation of tangible personal property or services which are identifiable as being directly and solely for export from, or import into, the United States or between jurisdictions abroad;

* The financing of contracts, projects or activities to be performed substantially abroad, except those transactions secured by a mortgage, deed of trust or other lien upon real property located in this State;

* The receipt of deposits or borrowings or the extensions of credit by an international banking facility, except the loan or deposit of funds secured by mortgage, deed of trust or other lien upon real property located in this State;

* The underwriting, distributing and dealing in debt and equity securities outside of the United States and the conduct of any activities permissible to and Edge Act Corporation or an Agreement Corporation described above, or any of its subsidiaries, in connection with the transaction of banking or other financial operations; or

* The entering into foreign exchange trading or hedging transactions in connection with the activities described in paragraphs (1) through (5) above.

"National Bank" means a banking association organized under the authority of the United States and having a principal place of business in this State.

"Net Operating Income Before Taxes" means the total net interest income plus total non-interest income, minus provision for loan and lease losses, provision for allocated transfer risk, and total non-interest expense, and adjustments made for securities gains or losses and other appropriate adjustments.

"Out-of-State Bank" has the same meaning as in § 795 of Title 5 of the Delaware Code, which is (i) a State bank, as defined in the Federal Deposit Insurance Act, as amended, at 12 U.S.C. § 1813(a), that is not chartered under Delaware law, or (ii) a national bank association created under the National Bank Act (12 U.S.C. § 21 et seq.) whose organization certificate identifies an address outside Delaware as the place at which its discount and deposit operations are to be carried out.

"Resulting Branch In This State Of An Out-of-State Bank" has the same meaning as in §1101(a) of Title 5 of the Delaware Code, which is a branch office in this State of an out-of-state bank resulting from a merger as provided in Subchapter VII of Chapter 7 of Title 5 of the Delaware Code, and, in addition, a branch office in this State of an out-of-state bank.

"Securities Business" means to engage in the sale, distribution and underwriting of, and deal in, stocks, bonds, debentures, notes or other securities. For purposes of this regulation and Title 5, Section 1101 (a)(1)b, a subsidiary that is a bank or insured institution, as those terms are defined in the federal Bank Holding Company Act, 12 USC 1841, is not considered to be "engaged in the sale, distribution or underwriting of, or dealing in, securities".

"Trust Company" means a trust company or corporation doing a trust company business which has a principal place of business in this State.

Notes

5 Del. Admin. Code § 1103-2.0

23 DE Reg. 236 (9/1/2019) (final)