Back

31 CFR § 1010.100(t) - General definitions - Financial institution. (Formerly 103.11(n))

Date issued: Oct. 26 2010

PRINT
§1010.100 General definitions.

When used in this chapter and in forms prescribed under this chapter, where not otherwise distinctly expressed or manifestly incompatible with the intent thereof, terms shall have the meanings ascribed in this subpart. Terms applicable to a particular type of financial institution or specific part or subpart of this chapter are located in that part or subpart. Terms may have different meanings in different parts or subparts.

[…]

(t) Financial institution. Each agent, agency, branch, or office within the United States of any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the capacities listed below:
(1) A bank (except bank credit card systems);
(2) A broker or dealer in securities;
(3) A money services business as defined in paragraph (ff) of this section;
(4) A telegraph company;
(5)(i) Casino. A casino or gambling casino that: Is duly licensed or authorized to do business as such in the United States, whether under the laws of a State or of a Territory or Insular Possession of the United States, or under the Indian Gaming Regulatory Act or other Federal, State, or tribal law or arrangement affecting Indian lands (including, without limitation, a casino operating on the assumption or under the view that no such authorization is required for casino operation on Indian lands); and has gross annual gaming revenue in excess of $1 million. The term includes the principal headquarters and every domestic branch or place of business of the casino.
(ii) For purposes of this paragraph (t)(5), “gross annual gaming revenue” means the gross gaming revenue received by a casino, during either the previous business year or the current business year of the casino. A casino or gambling casino which is a casino for purposes of this chapter solely because its gross annual gaming revenue exceeds $1,000,000 during its current business year, shall not be considered a casino for purposes of this chapter prior to the time in its current business year that its gross annual gaming revenue exceeds $1,000,000.
(iii) Any reference in this chapter, other than in this paragraph (t)(5) and in paragraph (t)(6) of this section, to a casino shall also include a reference to a card club, unless the provision in question contains specific language varying its application to card clubs or excluding card clubs from its application;
(6)(i) Card club. A card club, gaming club, card room, gaming room, or similar gaming establishment that is duly licensed or authorized to do business as such in the United States, whether under the laws of a State, of a Territory or Insular Possession of the United States, or of a political subdivision of any of the foregoing, or under the Indian Gaming Regulatory Act or other Federal, State, or tribal law or arrangement affecting Indian lands (including, without limitation, an establishment operating on the assumption or under the view that no such authorization is required for operation on Indian lands for an establishment of such type), and that has gross annual gaming revenue in excess of $1,000,000. The term includes the principal headquarters and every domestic branch or place of business of the establishment. The term “casino,” as used in this chapter shall include a reference to “card club” to the extent provided in paragraph (t)(5)(iii) of this section.
(ii) For purposes of this paragraph (t)(6), “gross annual gaming revenue” means the gross revenue derived from or generated by customer gaming activity (whether in the form of per-game or per-table fees, however computed, rentals, or otherwise) and received by an establishment, during either the establishment's previous business year or its current business year. A card club that is a financial institution for purposes of this chapter solely because its gross annual revenue exceeds $1,000,000 during its current business year, shall not be considered a financial institution for purposes of this chapter prior to the time in its current business year when its gross annual revenue exceeds $1,000,000;
(7) A person subject to supervision by any state or Federal bank supervisory authority;
(8) A futures commission merchant;
(9) An introducing broker in commodities; or
(10) A mutual fund.

# # #
The third party website that hosts this document does not accept frames. The external link is the following: https://www.ecfr.gov/cgi-bin/text-idx?SID=8d4c4b33c447b4f2794013656dab99fa&mc=true&node=pt31.3.1010&rgn=div5#se31.3.1010_1100

QuickCEN Commentary (651 words)

Notes:

Each subsection of 31 CFR § 1010.100 has its own entry in the Research System. See links below:

31 CFR § 1010.100(a) - General definitions - Accept. (Formerly 103.122(a)(1))
31 CFR § 1010.100(b) - General definitions - At one time (Formerly 103.122(a)(2))
31 CFR § 1010.100(c) - General definitions - Attorney General. (Formerly 103.122(a)(3))
31 CFR § 1010.100(d) - General definitions - Bank. (Formerly 103.122(a)(4))
31 CFR § 1010.100(e) - General definitions - Bank Secrecy Act. (Formerly 103.122(a)(6))
31 CFR § 1010.100(f) - General definitions - Beneficiary.
31 CFR § 1010.100(g) - General definitions - Beneficiary's bank.
31 CFR § 1010.100(h) - General definitions - Broker or dealer in securities.
31 CFR § 1010.100(i) - General definitions - Business day.
31 CFR § 1010.100(j) - General definitions - Commodity.
31 CFR § 1010.100(k) - General definitions - Common carrier.
31 CFR § 1010.100(l) - General definitions - Contract of sale.
31 CFR § 1010.100(m) - General definitions - Currency.
31 CFR § 1010.100(n) - General definitions - Deposit account.
31 CFR § 1010.100(o) - General definitions - Domestic.
31 CFR § 1010.100(p) - General definitions - Established customer.
31 CFR § 1010.100(q) - General definitions - Execution date.
31 CFR § 1010.100(r) - General definitions - Federal functional regulator. (Formerly 103.120(a)(2))
31 CFR § 1010.100(s) - General definitions - FinCEN. (Formerly 103.120(a)(3))
31 CFR § 1010.100(t) - General definitions - Financial institution.
31 CFR § 1010.100(u) - General definitions - Foreign bank.
31 CFR § 1010.100(v) - General definitions - Foreign financial agency.
31 CFR § 1010.100(w) - General definitions - Funds transfer.
31 CFR § 1010.100(x) - General definitions - Futures commission merchant.
31 CFR § 1010.100(y) - General definitions - Indian Gaming Regulatory Act.
31 CFR § 1010.100(z) - General definitions - Intermediary bank.
31 CFR § 1010.100(aa) - General definitions - Intermediary financial institution.
31 CFR § 1010.100(bb) - General definitions - Introducing broker-commodities.
31 CFR § 1010.100(cc) - General definitions - Investment security.
31 CFR § 1010.100(dd) - General definitions - Monetary instruments.
31 CFR § 1010.100(ee) - General definitions - Reserved
31 CFR § 1010.100(ff) - General definitions - Money services business.
31 CFR § 1010.100(gg) - General definitions - Mutual fund.
31 CFR § 1010.100(hh) - General definitions - Option on a commodity.
31 CFR § 1010.100(ii) - General definitions - Originator.
31 CFR § 1010.100(jj) - General definitions - Originator's bank.
31 CFR § 1010.100(kk) - General definitions - Payment date.
31 CFR § 1010.100(ll) - General definitions - Payment order.
31 CFR § 1010.100(mm) - General definitions - Person.
31 CFR § 1010.100(nn) - General definitions - Receiving bank.
31 CFR § 1010.100(oo) - General definitions - Receiving financial institution.
31 CFR § 1010.100(pp) - General definitions - Recipient.
31 CFR § 1010.100(qq) - General definitions - Recipient's financial institution.
31 CFR § 1010.100(rr) - General definitions - Secretary.
31 CFR § 1010.100(ss) - General definitions - Security.
31 CFR § 1010.100(tt) - General definitions - Self-regulatory organization:
31 CFR § 1010.100(uu) - General definitions - Sender.
31 CFR § 1010.100(vv) - General definitions - State.
31 CFR § 1010.100(ww) - General definitions - Prepaid access.
31 CFR § 1010.100(xx) - General definitions - Structure (structuring) -.
31 CFR § 1010.100(yy) - General definitions - Taxpayer Identification Number. (Formerly 103.121(a)(6))
31 CFR § 1010.100(zz) - General definitions - Territories and Insular Possessions.
31 CFR § 1010.100(bbb) - General definitions - Transaction.
31 CFR § 1010.100(ccc) - General definitions - Transaction account.
31 CFR § 1010.100(ddd) - General definitions - Transmittal of funds.
31 CFR § 1010.100(eee) - General definitions - Transmittal order.
31 CFR § 1010.100(fff) - General definitions - Transmittor.
31 CFR § 1010.100(ggg) - General definitions - Transmittor's financial institution.
31 CFR § 1010.100(hhh) - General definitions - United States.
31 CFR § 1010.100(iii) - General definitions - U.S. person.
31 CFR § 1010.100(jjj) - General definitions - U.S. Postal Service.
31 CFR § 1010.100(kkk) - General definitions - Closed loop prepaid access.
31 CFR § 1010.100(lll) - General definitions - Loan or finance company.
31 CFR § 1010.100(mmm) - General definitions - Housing government sponsored enterprise.