For purposes of this subchapter:
(a) Appropriate regulatory agency has the meaning set out in section 3(a)(34)(G) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(34)(G)), except that the appropriate regulatory agency for--
(1) A Federal credit union as defined in 12 U.S.C. 1752(1) and an insured credit union as defined in 12 U.S.C. 1752(7) is the National Credit Union Administration; and
(2) Any depository institution for whom an appropriate regulatory agency is not explicitly specified by either section 3(a)(34)(G) or this paragraph, is the SEC;
(b) Customer includes, but is not limited to, the counterparty to a transaction pursuant to a repurchase agreement for whom the depository institution retains possession of the security sold subject to repurchase, but does not include a broker or dealer that is registered pursuant to section 15, 15B or 15C(a)(1)(A) of the Act (15 U.S.C. 78o, 78o-4, 78o-5(a)(l)(A)) or that has filed notice of its status as a government securities broker or dealer pursuant to section 15C(a)(1)(B) of the Act (15 U.S.C. 78o-5(a)(1)(B)) except as provided in Sec. 450.4.
(c) Depository institution has the meaning stated in clauses (i) through (vi) of section 19(b)(1)(A) of the Federal Reserve Act (12 U.S.C. 461(b)(1)(A) (i)-(vi)) and also includes a foreign bank, an agency or branch of a foreign bank and a commercial lending company owned or controlled by a foreign bank (as such terms are defined in the International Banking Act of 1978, Pub. L. 95-369, 92 Stat. 607);
(d) Fiduciary capacity includes trustee, executor, administrator, registrar, transfer agent, guardian, assignee, receiver, managing agent, and any other similar capacity involving the sole or shared exercise of discretion by a depository institution having fiduciary powers that is supervised by a Federal or state financial institution regulatory agency; and
(e) Government securities means: ------------------------------------------------------------------------
(1)(i) A depository institution is a ``Government securities'' means
(i) A depository institution is a ``Government securities'' means
government securities broker or dealer those obligations described in
as defined in sections 3(a)(43) and subparagraphs (A), (B), (C),
3(a)(44) of the Securities Exchange or (E) of section 3(a)(42) of
Act of 1934 (15 U.S.C. 78c(a)(43)- the Securities Exchange Act of
(44)). 1934 (15 U.S.C. 78c(a)(42)(A)-
(C), (E))------------------------------------------------------------------------(ii) A depository institution is exempt ``Government securities'' means
under Part 401 of this chapter from those obligations described in
the requirements of Subchapter A. subparagraphs (A), (B), (C),
or (E) of section 3(a)(42) of
the Securities Exchange Act of
1934 (15 U.S.C. 78c(a)(42)(A)-
(C), (E))------------------------------------------------------------------------(2) A depository institution is not a ``Government securities'' means
government securities broker or dealer those obligations described in
as defined in sections 3(a)(43) and subparagraphs (A), (B), or (C)
3(a)(44) of the Securities Exchange of section 3(a)(42) of the
Act of 1934 (15 U.S.C. 78c(a)(43)- Securities Exchange Act of
(44)). 1934 (15 U.S.C. 78c(a)(42)(A)-
(C))------------------------------------------------------------------------ [52 FR 27957, July 24, 1987, as amended at 55 FR 6604, Feb. 26, 1990; 66 FR 28655, May 24, 2001; 66 FR 29888, June 1, 2001]