---
kind: "section"
citation: "17 C.F.R. § 450.2"
title: "17"
number: "450.2"
heading: "Definitions."
url: "https://uscodex.org/cfr/17/450.2"
---

# §450.2. Definitions.


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)](/usc/15/78c.md?p=a-34-G)), except that the appropriate regulatory agency for—
  - (1) A Federal credit union as defined in [12 U.S.C. 1752(1)](/usc/12/1752.md?p=1) and an insured credit union as defined in [12 U.S.C. 1752(7)](/usc/12/1752.md?p=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)](/cfr/17/3.md?p=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](/usc/15/78o.md), [78o-4](/usc/15/78o-4.md), [78o-5(a)(l)(A)](/usc/15/78o-5.md?p=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)](/usc/15/78o-5.md?p=a-1-B)) except as provided in [§ 450.4](/cfr/17/450.4.md).
- (c) **Depository institution—** has the meaning stated in [clauses (i) through (vi)](/cfr/17/19.md?p=b-1-A-i..b-1-A-vi) of section 19(b)(1)(A) of the Federal Reserve Act ([12 U.S.C. 461(b)(1)(A)](/usc/12/461.md?p=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:

## Notes

### Amendments

[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]

### Authority

Authority: Sec. 201, Pub. L. 99-571, 100 Stat. 3222-23 (31 U.S.C. 3121, 9110); Sec. 101, Pub. L. 99-571, 100 Stat. 3208 (15 U.S.C. 78o-5(b)(1)(A), (b)(4), (b)(5)(B)).

### Source

Source: 52 FR 27957, July 24, 1987, unless otherwise noted.

### Amendments

[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]