# 12 CFR § 354.2: Definitions

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-12-354.2

## Section

- **Citation:** 12 CFR § 354.2
- **Heading:** Definitions
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 12—Banks and Banking > CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION > SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY > PART 354—INDUSTRIAL BANKS

## Text

Unless defined in this section, terms shall have the meaning given to them in section 3 of the FDI Act.
Control means the power, directly or indirectly, to direct the management or policies of a company or to vote 25 percent or more of any class of voting securities of a company, and includes the rebuttable presumptions of control at § 303.82(b)(1) of this chapter and of acting in concert at § 303.82(b)(2) of this chapter. For purposes of this part, the presumptions set forth in § 303.82(b)(1) and (2) of this chapter shall apply with respect to any company in the same manner and to the same extent as if they applied to an acquisition of securities of the company.
Covered Company means any company that is not subject to Federal consolidated supervision by the FRB and that controls an industrial bank:
(1) As a result of a change in bank control pursuant to section 7(j) of the FDI Act;
(2) As a result of a merger transaction pursuant to section 18(c) of the FDI Act; or
(3) That is granted deposit insurance by the FDIC pursuant to section 6 of the FDI Act, in each case on or after April 1, 2021.
FDI Act means the Federal Deposit Insurance Act, 12 U.S.C. 1811, et seq.
Filing has the meaning given to it in § 303.2(s) of this chapter.
FRB means the Board of Governors of the Federal Reserve System and each Federal Reserve Bank.
Industrial bank means any insured State bank that is an industrial bank, industrial loan company, or other similar institution that is excluded from the definition of the term “bank” in section 2(c)(2)(H) of the Bank Holding Company Act, 12 U.S.C. 1841(c)(2)(H).
Senior executive officer has the meaning given it in § 303.101(b) of this chapter.

## Nearby sections

- [12 CFR § 325.1 § 325.1 Authority, purpose, and reservation of authority.](https://www.frixlaw.com/law-library/statutes/ecfr-12-325.1.md)
- [12 CFR § 325.4 § 325.4 Periodic stress tests required.](https://www.frixlaw.com/law-library/statutes/ecfr-12-325.4.md)
- [12 CFR § 325.5 § 325.5 Methodologies and practices.](https://www.frixlaw.com/law-library/statutes/ecfr-12-325.5.md)
- [12 CFR § 325.6 § 325.6 Required reports of stress test results to the FDIC and the Board of Governors of the Federal Reserve System.](https://www.frixlaw.com/law-library/statutes/ecfr-12-325.6.md)
- [12 CFR § 325.7 § 325.7 Publication of stress test results.](https://www.frixlaw.com/law-library/statutes/ecfr-12-325.7.md)
- [12 CFR § 330.1 § 330.1 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.1.md)
- [12 CFR § 330.3 § 330.3 General principles.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.3.md)
- [12 CFR § 330.5 § 330.5 Recognition of deposit ownership and fiduciary relationships.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.5.md)
- [12 CFR § 330.8 § 330.8 Annuity contract accounts.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.8.md)
- [12 CFR § 330.10 § 330.10 Trust accounts.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.10.md)
- [12 CFR § 330.14 § 330.14 Retirement and other employee benefit plan accounts.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.14.md)
- [12 CFR § 330.15 § 330.15 Accounts held by government depositors.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.15.md)
- [12 CFR § 330.101 § 330.101 Premiums.](https://www.frixlaw.com/law-library/statutes/ecfr-12-330.101.md)
- [12 CFR § 331.1 § 331.1 Authority, purpose, and scope.](https://www.frixlaw.com/law-library/statutes/ecfr-12-331.1.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-12-354.2. Check the current official text before relying on it. Not legal advice.