---
kind: "section"
citation: "12 C.F.R. § 368.2"
title: "12"
number: "368.2"
heading: "Definitions."
url: "https://uscodex.org/cfr/12/368.2"
---

# §368.2. Definitions.

- (a) Bank that is a government securities broker or dealer means a state nonmember bank or an insured state branch of a foreign bank that has filed notice, or is required to file notice, as a government securities broker or dealer pursuant to section 15C of the Securities Exchange Act ([15 U.S.C. 78o-5](/usc/15/78o-5.md)) and Department of the Treasury rules under [section 15C](/cfr/12/15C.md) ([17 CFR 400.1(d)](/cfr/17/400.1.md?p=d) and [part 401](/cfr/12/part401.md)).
- (b) **Customer—** does not include a broker or dealer or a government securities broker or dealer.
- (c) **Government security—** has the same meaning as this term has in section 3(a)(42) of the Securities Exchange Act of 1934 ([15 U.S.C. 78c(a)(42)](/usc/15/78c.md?p=a-42)).
- (d) Non-institutional customer means any customer other than:
  - (1) A bank, savings association, insurance company, or registered investment company;
  - (2) An investment adviser registered under section 203 of the Investment Advisers Act of 1940 ([15 U.S.C. 80b-3](/usc/15/80b-3.md)); or
  - (3) Any entity (whether a natural person, corporation, partnership, trust, or otherwise) with total assets of at least $50 million.

## Notes

### Authority

Authority: 15 U.S.C. 78o-5.

### Source

Source: 62 FR 13287, Mar. 19, 1997, unless otherwise noted.