US Financial Services Entities Ontology
type: Ontology
abstract: This ontology extends the primary financial services entities ontology in FBC with additional kinds of entities that are specific to the United States.
license: Copyright (c) 2015-2025 EDM Council, Inc. Copyright (c) 2015-2025 Object Management Group, Inc. Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the 'Software'), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED 'AS IS', WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE. See https://opensource.org/licenses/MIT.
imports: USGovernmentEntitiesAndJurisdictions
imports: CorporateBodies
imports: FormalBusinessOrganizations
imports: CorporateControl
imports: FinancialServicesEntities
imports: FinancialProductsAndServices
imports: Control
imports: Ownership
imports: AnnotationVocabulary
imports: Collections
imports: Locations
imports: Organizations
imports: RegulatoryAgencies
imports: RolesAndCompositions
imports: SitesAndFacilities
imports: ISO3166-1-CountryCodes
version IRI: USFinancialServicesEntities
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of the ontology was modified to replace additional content that is now available in the OMG Commons Ontology Library (Commons) v1.2 (FND-389).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of the ontology was modified to to reuse concepts from the Commons 1.3 sites and facilities ontology (FND-401).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified per the issue resolutions identified in the FIBO FBC 1.0 FTF report.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to augment the representation of institutions based on their definitions in the law, in order to answer competency questions using the National Information Center (NIC) repository
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to eliminate circular definitions and revise names such that concepts don't appear to refer to multiple things.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to eliminate dead links and address text formatting issues identified through hygiene testing.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to eliminate deprecated elements.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to generalize the definition of credit union.
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to replace content that is now available in the OMG Commons Ontology Library (Commons) v1.1 (FND-380).
change note: The https://spec.edmcouncil.org/fibo/ontology/FBC/FunctionalEntities/NorthAmericanEntities/USFinancialServicesEntities.rdf version of this ontology was modified to use the Commons Ontology Library (Commons) Annotation Vocabulary rather than the OMG's Specification Metadata vocabulary, add additional kinds of institutions in order to answer competency questions using the National Information Center (NIC) repository, leverage the Commons Ontology Library (Commons) rather than the OMG's Languages, Countries and Codes (LCC) to eliminate redundancies in FIBO, and clean up a couple of definitions to be ISO 704 compliant.
has maturity level: Release
copyright: Copyright (c) 2015-2025 EDM Council, Inc.
copyright: Copyright (c) 2015-2025 Object Management Group, Inc.

agency of a foreign banking organization
type: Class
subclass of: FinancialInstitution
subclass of: Restriction
  on property: isControlledPartyOf
  some values from: foreign bank
subclass of: Restriction
  on property: isOwnedAsset
  some values from: foreign bank
subclass of: Restriction
  on property: isPlayedBy
  some values from: office of a foreign bank
subclass of: Restriction
  on property: isPlayedBy
  some values from: Restriction
    on property: isDomiciledIn
    has value: UnitedStatesOfAmerica
definition: place of business of a foreign bank, located in any state, at which credit balances are maintained, checks are paid, money is lent, or, to the extent not prohibited by state or federal law, deposits are accepted from a person or entity that is not a citizen or resident of the United States
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
explanatory note: Obligations shall not be considered credit balances unless they are: (1) Incidental to, or arise out of the exercise of, other lawful banking powers; (2) To serve a specific purpose; (3) Not solicited from the general public; (4) Not used to pay routine operating expenses in the United States such as salaries, rent, or taxes; (5) Withdrawn within a reasonable period of time after the specific purpose for which they were placed has been accomplished; and (6) Drawn upon in a manner reasonable in relation to the size and nature of the account.

agreement corporation
type: Class
subclass of: FinancialInstitution
subclass of: Restriction
  on property: isPlayedBy
  on class: Corporation
  qualified cardinality: 1
definition: corporation chartered by a state to engage in international banking, so named because the corporation enters into an 'agreement' with the Fed's Board of Governors that it will limit its activities to those permitted
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

agreement corporation - banking
type: Class
subclass of: DepositoryInstitution
subclass of: agreement corporation
definition: agreement corporation whose charter allows the corporation to engage in international banking
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

agreement corporation - investment
type: Class
subclass of: InvestmentBank
subclass of: agreement corporation
definition: agreement corporation whose charter allows the corporation to engage in international investment banking
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

bankers' bank
type: Class
subclass of: CommercialBank
subclass of: U.S. bank
subclass of: Restriction
  on property: is subject to reserve requirements
  on data range: boolean
  qualified cardinality: 1
definition: commercial bank owned exclusively (except to the extent directors' qualifying shares are required by law) by other depository institutions or depository institution holding companies, the activities of which are limited by its articles of association exclusively to providing services to or for other depository institutions, their holding companies, and the officers, directors, and employees of such institutions and companies, and to providing correspondent banking services at the request of other depository institutions or their holding companies
adapted from: Depository Institutions Deregulation and Monetary Control Act of 1980, available at https://www.govinfo.gov/content/pkg/STATUTE-94/pdf/STATUTE-94-Pg132.pdf, section 711
explanatory note: Bankers' banks are typically (1) organized solely to do business with other financial institutions (with the exceptions defined herein), (2) owned primarily by the financial institutions with which they conduct business, and (3) do not do business with the general public.

bankers' bank that is not subject to reserve requirements
type: Class
subclass of: bankers' bank
subclass of: Restriction
  on property: is subject to reserve requirements
  has value: false
definition: bankers' bank whose activities are not limited by specific requirements of the Federal Reserve
adapted from: https://www.ffiec.gov/nicpubweb/Content/DataDownload/NPW%20Data%20Dictionary.pdf

bankers' bank subject to reserve requirements
type: Class
subclass of: bankers' bank
subclass of: Restriction
  on property: is subject to reserve requirements
  has value: true
definition: bankers' bank whose activities are limited by specific requirements of the Federal Reserve
adapted from: https://www.ffiec.gov/nicpubweb/Content/DataDownload/NPW%20Data%20Dictionary.pdf

branch of a depository institution
type: Class
subclass of: Branch
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: DepositoryInstitution
definition: any office or any place of business located in any State of the United States at which deposits are received
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21

commercial lending company
type: Class
subclass of: NonDepositoryInstitution
definition: any institution, other than a bank or an organization operating under section 25 of the Federal Reserve Act [12 U.S.C. 601 et seq.], organized under the laws of any State of the United States, or the District of Columbia which maintains credit balances incidental to or arising out of the exercise of banking powers and engages in the business of making commercial loans
adapted from: https://www.govinfo.gov/content/pkg/USCODE-2021-title12/pdf/USCODE-2021-title12-chap32-sec3101.pdf

cooperative bank
type: Class
subclass of: thrift institution
definition: state-chartered savings association that is organized and operates according to the laws of the state in which it is chartered or organized, including Massachusetts, New Hampshire, Rhode Island or Vermont
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

domestic branch of a foreign bank
type: Class
subclass of: branch of a depository institution
subclass of: office of a foreign bank
subclass of: Restriction
  on property: isDomiciledIn
  has value: UnitedStatesOfAmerica
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: foreign bank
disjoint with: Restriction
  on property: playsRole
  all values from: agency of a foreign banking organization
definition: place of business of a foreign bank, located in any state, at which deposits are received, and that is not an agency as defined in https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

domestic branch of domestic bank
type: Class
subclass of: branch of a depository institution
subclass of: Restriction
  on property: isDomiciledIn
  has value: UnitedStatesOfAmerica
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: U.S. bank
definition: branch that resides in the United States, and whose parent is also located in the United States
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

domestic entity
type: Class
subclass of: FinancialServiceProvider
subclass of: Restriction
  on property: isPlayedBy
  some values from: Class
    intersection of: Restriction
      on property: isDomiciledIn
      has value: UnitedStatesOfAmerica
    intersection of: Restriction
      on property: isIncorporatedIn
      has value: UnitedStatesJurisdiction
definition: financial service provider that is incorporated and domiciled in the United States

domestic entity other
type: Class
subclass of: domestic entity
definition: domestic institution that engages in banking activities usually in connection with the business of banking in the United States
abbreviation: DEO
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
explanatory note: This classification is used primarily to cover organizations acting as financial institutions in the US that are not otherwise classified in the context of the National Information Center (NIC).

domestic non-bank subsidiary of a domestic entity
type: Class
subclass of: domestic entity
subclass of: non-bank subsidiary of a domestic entity
definition: non-bank financial service provider based in the United States of which 25 percent or more of whose voting shares are owned or controlled by an entity that is also based in the United States, or of which a majority of its directors are controlled by such domestic entity, or of which 25 percent or more of whose voting shares are held by trustees for the benefit of the shareholders or members of such domestic entity
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

edge corporation
type: Class
subclass of: FinancialInstitution
subclass of: Restriction
  on property: isPlayedBy
  on class: Corporation
  qualified cardinality: 1
definition: corporation chartered by the Federal Reserve to engage in international banking and financial operations
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

edge corporation - banking
type: Class
subclass of: DepositoryInstitution
subclass of: edge corporation
definition: edge corporation whose charter allows the corporation to engage in international banking
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

edge corporation - domestic branch
type: Class
subclass of: Branch
subclass of: Restriction
  on property: isDomiciledIn
  has value: UnitedStatesOfAmerica
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: edge corporation
definition: branch of an edge corporation that is located in the United States
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

edge corporation - investment
type: Class
subclass of: InvestmentBank
subclass of: edge corporation
definition: edge corporation whose charter allows the corporation to engage in international investment banking
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

farm credit system institution
type: Class
subclass of: FinancialInstitution
subclass of: domestic entity
definition: federally-chartered financial institution that is supervised, examined, and regulated by the Farm Credit Administration and operates in accordance with the Farm Credit Act of 1971, as amended, 12 U.S.C. 2001 et seq
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
explanatory note: All Farm Credit System institutions are federally-chartered instrumentalities of the United States.

federal agency of foreign banking organization
type: Class
subclass of: agency of a foreign banking organization
definition: agency of a foreign bank established and operating under section 3102 of CFR Title 12, Chapter 32 and section 4 of the International Banking Act of 1978
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
adapted from: https://www.govinfo.gov/content/pkg/USCODE-2021-title12/pdf/USCODE-2021-title12-chap32-sec3101.pdf

federal branch of foreign banking organization
type: Class
subclass of: domestic branch of a foreign bank
definition: branch of a foreign bank established and operating under section 3102 of CFR Title 12, Chapter 32 and section 4 of the International Banking Act of 1978
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
adapted from: https://www.govinfo.gov/content/pkg/USCODE-2021-title12/pdf/USCODE-2021-title12-chap32-sec3101.pdf

federal credit union
type: Class
subclass of: U.S. credit union
definition: credit union that has a federal affiliation

federal savings bank
type: Class
subclass of: savings bank
definition: savings bank that has a federal affiliation
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

financial holding company
type: Class
subclass of: BankHoldingCompany
definition: financial entity engaged in a broad range of banking-related activities as permitted under the Gramm-Leach-Bliley Act of 1999
note: Can be a domestic or foreign domiciled holding company
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
explanatory note: These activities include: insurance underwriting, securities dealing and underwriting, financial and investment advisory services, merchant banking, issuing or selling securitized interests in bank-eligible assets, and generally engaging in any non-banking activity authorized by the Bank Holding Company Act. The Federal Reserve Board is responsible for supervising the financial condition and activities of financial holding companies. Similarly, any non-bank commercial company that is predominantly engaged in financial activities, earning 85 percent or more of its gross revenues from financial services, may choose to become a financial holding company. These companies are required to sell any non-financial (commercial) businesses within ten years.
synonym: Financial Holding Company / BHC

foreign bank
type: Class
subclass of: Bank
subclass of: Restriction
  on property: has home country supervisor
  on class: RegulatoryAgency
  min qualified cardinality: 0
subclass of: Restriction
  on property: has home country
  some values from: Country
disjoint with: CentralBank
disjoint with: U.S. bank
definition: financial institution organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which engages in the business of banking, or any subsidiary or affiliate, organized under such laws, of any such institution
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/nicpubweb/Content/HELP/Institution%20Type%20Description.htm
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
explanatory note: For the purposes of the International Banking Act of 1978, the term 'foreign bank' includes, without limitation, foreign commercial banks, foreign merchant banks and other foreign institutions that engage in banking activities usual in connection with the business of banking in the countries where such foreign institutions are organized or operating.
explanatory note: Foreign bank means an organization that is organized under the laws of a foreign country and that engages directly in the business of banking outside the United States. The term foreign bank does not include a central bank of a foreign country that does not engage or seek to engage in a commercial banking business in the United States through an office.

foreign banking organization
type: Class
subclass of: FinancialServiceProvider
subclass of: Restriction
  on property: has home country supervisor
  on class: RegulatoryAgency
  min qualified cardinality: 0
subclass of: Restriction
  on property: has home country
  some values from: Country
definition: financial service provider that is headquartered outside the United States and that can acquire or establish freestanding banks or bank holding companies in the United States
abbreviation: FBO
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/nicpubweb/Content/HELP/Institution%20Type%20Description.htm
explanatory note: Foreign banking organization means: (1) A foreign bank, as defined in section 1(b)(7) of the International Banking Act of 1978 (12 U.S.C. 3101(7)), that: (i) Operates a branch, agency, or commercial lending company subsidiary in the United States; (ii) Controls a bank in the United States; or (iii) Controls an Edge corporation acquired after March 5, 1987; and (2) Any company of which the foreign bank is a subsidiary.
explanatory note: These entities are regulated and supervised as domestic institutions.

foreign banking organization as a bank holding company
type: Class
subclass of: BankHoldingCompany
subclass of: foreign banking organization
subclass of: Restriction
  on property: isPlayedBy
  some values from: Restriction
    on property: isDomiciledIn
    has value: UnitedStatesOfAmerica
definition: foreign banking organization that is a bank holding company in the United States
adapted from: https://www.ffiec.gov/nicpubweb/Content/HELP/Institution%20Type%20Description.htm
explanatory note: A foreign banking organization that also acts as a bank holding company is thus supervised by the Board of Governors of the Federal Reserve.
synonym: Financial Holding Company / FBO

foreign banking organization of a bank holding company
type: Class
subclass of: foreign banking organization
definition: foreign banking organization that is owned or controlled by a bank holding company
adapted from: https://www.ffiec.gov/nicpubweb/Content/HELP/Institution%20Type%20Description.htm

foreign branch of foreign bank
type: Class
subclass of: branch of a depository institution
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: foreign bank
disjoint with: domestic branch of domestic bank
disjoint with: foreign branch of US bank
disjoint with: Restriction
  on property: isDomiciledIn
  has value: UnitedStatesOfAmerica
definition: branch that resides outside of the United States whose parent is located outside of the United States

foreign branch of foreign bank managed by US office
type: Class
subclass of: foreign branch of foreign bank
subclass of: Restriction
  on property: isManagedBy
  some values from: Class
    union of: Restriction
      on property: isPlayedBy
      some values from: domestic branch of a foreign bank
    union of: agency of a foreign banking organization
definition: branch that resides outside of the United States whose parent is located outside of the United States that is managed by a US branch or agency of the foreign bank

foreign branch of US bank
type: Class
subclass of: branch of a depository institution
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: U.S. bank
disjoint with: domestic branch of domestic bank
disjoint with: Restriction
  on property: isDomiciledIn
  has value: UnitedStatesOfAmerica
definition: branch that resides outside of the United States, but has a parent that is located in the United States
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

foreign entity other
type: Class
subclass of: FinancialInstitution
disjoint with: domestic entity
definition: foreign institution that engages in banking activities usually in connection with the business of banking in the countries where such foreign institutions are organized or operating
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

industrial bank
type: Class
subclass of: Bank
definition: limited service financial institution that raises funds by selling certificates called 'investment shares' and by accepting deposits
explanatory note: Often called Morris Plan banks or industrial loan companies, industrial banks are distinguished from commercial loan companies because industrial banks accept deposits in addition to making consumer loans. Industrial banks differ from commercial banks because they do not offer demand deposit (checking) accounts. Industrial banks are not regulated by the Federal Reserve.

insured federal branch of foreign banking organization
type: Class
subclass of: federal branch of foreign banking organization
definition: any office or any place of business of a foreign bank located in any State of the United States at which deposits are received established and operating under section 4 of the International Banking Act of 1978 that is insured and regulated by the Federal Deposit Insurance Corporation (FDIC)
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf

insured state branch of foreign banking organization
type: Class
subclass of: state branch of foreign banking organization
definition: any office or any place of business of a foreign bank located in any State of the United States at which deposits are received, established and operating under the laws of that State that is insured and regulated by the Federal Deposit Insurance Corporation (FDIC)
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf

intermediate holding company
type: Class
subclass of: BankHoldingCompany
definition: bank holding company established or designated by a foreign banking organization under subpart O of the Federal Reserve Board's Regulation YY (12 CFR part 252)

international bank of US depositary, edge, trust company
type: Class
subclass of: Bank
subclass of: Restriction
  on property: isPartOf
  some values from: Restriction
    on property: playsRole
    some values from: Class
      union of: DepositoryInstitution
      union of: edge corporation
      union of: TrustCompany
definition: bank that is owned or controlled by a US depository institution, Edge Act corporation or trust company

international non-bank subsidiary of a domestic entity
type: Class
subclass of: non-bank subsidiary of a domestic entity
disjoint with: domestic non-bank subsidiary of a domestic entity
definition: non-bank financial service provider based outside of the United States of which 25 percent or more of whose voting shares are owned or controlled by an entity that is based in the United States, or of which a majority of its directors are controlled by such domestic entity, or of which 25 percent or more of whose voting shares are held by trustees for the benefit of the shareholders or members of such domestic entity
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

limited branch of a foreign bank
type: Class
subclass of: domestic branch of a foreign bank
definition: branch of a foreign bank that receives only such deposits as would be permitted for a corporation organized under section 25A of the Federal Reserve Act (12 U.S.C. 611-631)
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21

mutual savings bank
type: Class
subclass of: savings bank
definition: financial institution that accepts deposits primarily from individuals and places a large portion of its funds into mortgage loans
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

national bank
type: Class
subclass of: CommercialBank
subclass of: U.S. bank
definition: commercial bank whose charter is approved by the Office of the Comptroller of the Currency (OCC) rather than by a state banking agency
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes#non-mem-banks
explanatory note: National Banks are required to be members of the Federal Reserve System and belong to the Federal Deposit Insurance Corporation.

New York Article XII investment company
type: Class
subclass of: NonDepositoryInstitution
disjoint with: InvestmentCompany
definition: specialized non-depository lending institution that has broad borrowing and lending powers and may invest in stocks and bonds
adapted from: https://www.dfs.ny.gov/institution_definition
explanatory note: An Article XII Investment Company is not an 'investment company' subject to registration under the Investment Company Act of 1940. An Article XII Investment Company may accept credit balances in New York that are incidental to the exercise of its other powers and may accept deposits outside New York with the approval of the Superintendent. Article XII Investment Companies may specialize in commercial or retail sales finance; others are involved in domestic and international commercial and merchant banking.

non-bank subsidiary of a domestic entity
type: Class
subclass of: subsidiary of a domestic entity
subclass of: Restriction
  on property: isSubsidiaryOf
  some values from: Restriction
    on property: isPlayedBy
    some values from: FinancialInstitution
disjoint with: Bank
definition: non-bank entity of which 25 percent or more of whose voting shares are owned or controlled by an entity that is based in the United States, or of which a majority of its directors are controlled by such domestic entity, or of which 25 percent or more of whose voting shares are held by trustees for the benefit of the shareholders or members of such domestic entity
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

non-depository trust company
type: Class
subclass of: NonDepositoryInstitution
subclass of: TrustCompany
definition: trust company that accepts and executes trusts, but does not issue currency; non-depository trust companies can either be Federal Reserve Members or Federal Reserve Non-members
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

office of a foreign bank
type: Class
subclass of: Facility
definition: facility that is any branch, agency, representative office, or commercial lending company subsidiary of a foreign bank in the United States
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21

regional administrative office of a foreign bank
type: Class
subclass of: representative office of a foreign bank
definition: representative office that (1) Is established by a foreign bank that operates two or more branches, agencies, commercial lending companies, or banks in the United States; (2) Is located in the same city as one or more of the foreign bank's branches, agencies, commercial lending companies, or banks in the United States; (3) Manages, supervises, or coordinates the operations of the foreign bank or its affiliates, if any, in a particular geographic area that includes the United States or a region thereof, including by exercising credit approval authority in that area pursuant to written standards, credit policies, and procedures established by the foreign bank; and (4) Does not solicit business from actual or potential customers of the foreign bank or its affiliates.
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
synonym: regional administrative office

representative office of a foreign bank
type: Class
subclass of: office of a foreign bank
disjoint with: domestic branch of a foreign bank
disjoint with: Restriction
  on property: playsRole
  some values from: agency of a foreign banking organization
disjoint with: Restriction
  on property: playsRole
  some values from: commercial lending company
definition: office of a foreign bank which is located in any state and is not a federal branch, federal agency, state branch, state agency, or commercial lending company subsidiary
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
synonym: representative office

savings bank
type: Class
subclass of: thrift institution
definition: banking institution organized to accept savings deposits and pay interest on those savings deposits
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
explanatory note: Savings banks can have state and federal affiliations, for example, State Savings Banks and Federal Savings Banks

savings loan association
type: Class
subclass of: thrift institution
definition: financial institution that accepts deposits primarily from individuals and channels its funds primarily into residential mortgage loans
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
synonym: savings and loan association

savings loan holding company
type: Class
subclass of: HoldingCompany
subclass of: FinancialServiceProvider
subclass of: Restriction
  on property: hasPortfolioCompany
  some values from: Class
    union of: savings loan association
    union of: savings loan holding company
disjoint with: BankHoldingCompany
definition: company that directly or indirectly controls a savings association or related holding company, and explicitly excludes any company that is also a bank holding company
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
synonym: savings and loan holding company

state agency of foreign banking organization
type: Class
subclass of: agency of a foreign banking organization
definition: agency of a foreign bank established and operating under the laws of any state, where state means any State of the United States or the District of Columbia
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
adapted from: https://www.govinfo.gov/content/pkg/USCODE-2021-title12/pdf/USCODE-2021-title12-chap32-sec3101.pdf

state branch of foreign banking organization
type: Class
subclass of: domestic branch of a foreign bank
disjoint with: federal branch of foreign banking organization
definition: branch of a foreign bank located in any State of the United States at which deposits are received, established and operating under the laws of that State, where state means any State of the United States or the District of Columbia
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf

state-chartered bank
type: Class
subclass of: CommercialBank
subclass of: U.S. bank
definition: commercial bank whose charter is approved by a state banking regulator
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
explanatory note: A state bank is defined as any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution operating substantially in the same manner as an industrial bank), or other banking institution which is engaged in the business of receiving deposits other than trust funds, and in the US, is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia, including any cooperative bank or other unincorporated bank the deposits of which were insured by the Federal Deposit Insurance Corporation on the day before the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
explanatory note: State-chartered banks may or may not be members of the Federal Reserve System, but typically belong to the Federal Deposit Insurance Corporation, who may be their primary federal regulator for those that are not FRS members.

state credit union
type: Class
subclass of: U.S. credit union
definition: credit union that has a state affiliation

state savings bank
type: Class
subclass of: savings bank
disjoint with: federal savings bank
definition: savings bank that has a state affiliation
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

subsidiary of a domestic entity
type: Class
subclass of: Subsidiary
subclass of: Restriction
  on property: isSubsidiaryOf
  some values from: Restriction
    on property: isPlayedBy
    some values from: domestic entity
definition: entity of which 25 percent or more of whose voting shares are owned or controlled by an entity that is based in the United States, or of which a majority of its directors are controlled by such domestic entity, or of which 25 percent or more of whose voting shares are held by trustees for the benefit of the shareholders or members of such domestic entity
explanatory note: From the perspective of the International Banking Act of 1978, the definition of subsidiary is the definition from the Bank Holding Act of 1956. Thus, the meaining of the term 'subsidiary' with respect to the NIC repository and, specifically, with respect to the definition of an 'international non-bank subsidiary of a domestic entity', is the definition from the Bank Holding Company Act of 1956.
explanatory note: The Bank Holding Company Act of 1956 defines a 'Subsidiary', with respect to a specified bank holding company, means (1) any company 25 per centum or more of whose voting shares (excluding shares owned by the United States or by any company wholly owned by the United States) is owned or controlled by such bank holding company; or (2) any company the election of a majority of whose directors is controlled in any manner by such bank holding company; or (3) any company 25 per centum or more of whose voting shares are held by trustees for the benefit of the shareholders or members of such bank holding company.

thrift institution
type: Class
subclass of: SavingsAssociation
subclass of: domestic entity
definition: savings association that primarily accepts savings account deposits and invests most of the proceeds in mortgages
example: Savings banks and savings and loan associations and credit unions are examples of thrift institutions.
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes

U.S. bank
type: Class
subclass of: Bank
subclass of: domestic entity
definition: bank that is licensed to conduct business in the United States
adapted from: As defined in the Federal Deposit Insurance Act, https://www.fdic.gov/regulations/laws/rules/1000-400.html#fdic1000sec.3a
explanatory note: A bank, as specified in the Investment Company Act of 1940, is a financial intermediary that is (a) a depository institution (as defined in section 3 of the Federal Deposit Insurance Act) or a branch or agency of a foreign bank (as such terms are defined in section 1(b) of the International Banking Act of 1978), (b) a member bank of the Federal Reserve System, (c) any other banking institution or trust company, whether incorporated or not, doing business under the laws of any State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to national banks under the authority of the Comptroller of the Currency, and which is supervised and examined by State or Federal authority having supervision over banks, and which is not operated for the purpose of evading the provisions of this title, and (d) a receiver, conservator, or other liquidating agent of any institution or firm included in clause (a), (b), or (c) of this paragraph.
explanatory note: The Bank Holding Company Act of 1956 defines a bank as any depository financial intermediary that accepts checking accounts (checks) or makes commercial loans, and its deposits are insured by a federal deposit insurance agency. A bank acts as a middleman between suppliers of funds and users of funds, substituting its own credit judgement for that of the ultimate suppliers of funds, collecting those funds from three sources: checking accounts, savings and time deposits; short-term borrowings from other banks; and equity capital. A bank earns money by reinvesting these funds in longer-term assets.

U.S. bank holding company
type: Class
subclass of: BankHoldingCompany
subclass of: domestic entity
subclass of: Restriction
  on property: hasPortfolioCompany
  some values from: U.S. bank
definition: bank holding company that is licensed to conduct business in the United States and is regulated and supervised by the Federal Reserve in accordance with the Bank Holding Company Act of 1956
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
explanatory note: According to the FFIEC, a bank holding company is a company that owns and/or controls one or more U.S. banks or one that owns, or has controlling interest in, one or more banks. A bank holding company may also own another bank holding company, which in turn owns or controls a bank; the company at the top of the ownership chain is called the top holder. The Board of Governors is responsible for regulating and supervising bank holding companies, even if the bank owned by the holding company is under the primary supervision of a different federal agency (OCC or FDIC).
explanatory note: From the Bank Holding Company Act of 1956, a 'bank holding company' means any company (1) which directly or indirectly owns, controls, or holds with power to vote, 25 per centum or more of the voting shares of each of two or more banks or of a company which is or becomes a bank holding company by virtue of this Act, or (2) which controls in any manner the election of a majority of the directors of each of two or more banks, or (3) for the benefit of whose shareholders or members 25 per centum or more of the voting shares of each of two or more banks or a bank holding company is held by trustees; and for the purposes of this Act, any successor to any such company shall be deemed to be a bank holding company from the date as of which such predecessor company became a bank holding company. Notwithstanding the foregoing, (A) no bank shall be a bank holding company by virtue of its ownership or control of shares in a fiduciary capacity, except where such shares are held for the benefit of the shareholders of such bank, (B) no company shall be a bank holding company which is registered under the Investment Company Act of 1940, and was so registered prior to May 15, 1955 (or which is affiliated with any such company in such manner as to constitute an affiliated company within the meaning of such Act), unless such company (or such affiliated company), as the case may be, directly owns 25 per centum or more of the voting shares of each of two or more banks, (C) no company shall be a bank holding company by virtue of its ownership or control of shares acquired by it in connection with its underwriting of securities and which are held only for such period of time as will permit the sale thereof upon a reasonable basis, (D) no company formed for the sole purpose of participating in a proxy solicitation shall be a bank holding company by virtue of its control of voting rights of shares acquired in the course of such solicitation, and (E) no company shall be a bank holding compan…

U.S. credit union
type: Class
subclass of: CreditUnion
subclass of: thrift institution
subclass of: Restriction
  on property: isPlayedBy
  on class: NotForProfitCorporation
  qualified cardinality: 1
definition: cooperative association organized for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes
explanatory note: As soon as you deposit funds into a credit union account, you become a partial owner and participate in the union's profitability. Credit unions may be formed by large corporations and organizations for their employees and members.

uninsured federal agency of foreign banking organization
type: Class
subclass of: federal agency of foreign banking organization
definition: agency of a foreign bank established and operating under section 3102 of CFR Title 12, Chapter 32 and section 4 of the International Banking Act of 1978 that is not insured or regulated by the Federal Deposit Insurance Corporation (FDIC)
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf

uninsured federal branch of foreign banking organization
type: Class
subclass of: federal branch of foreign banking organization
disjoint with: insured federal branch of foreign banking organization
definition: any office or any place of business of a foreign bank located in any State of the United States at which deposits are received established and operating under section 4 of the International Banking Act of 1978 that is not insured or regulated by the Federal Deposit Insurance Corporation (FDIC)
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
explanatory note: An uninsured branch does not accept retail deposits and need not apply for federal deposit insurance.

uninsured state agency of foreign banking organization
type: Class
subclass of: state agency of foreign banking organization
definition: agency of a foreign bank established and operating under the laws of any state that is not insured or regulated by the Federal Deposit Insurance Corporation (FDIC)
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf

uninsured state branch of foreign banking organization
type: Class
subclass of: state branch of foreign banking organization
disjoint with: insured state branch of foreign banking organization
definition: any office or any place of business of a foreign bank located in any State of the United States at which deposits are received, established and operating under the laws of that State that is not insured or regulated by the Federal Deposit Insurance Corporation (FDIC)
adapted from: https://www.ffiec.gov/npw/Help/InstitutionTypes
adapted from: https://www.govinfo.gov/content/pkg/COMPS-275/pdf/COMPS-275.pdf
explanatory note: An uninsured branch does not accept retail deposits and need not apply for federal deposit insurance.

has home country
type: ObjectProperty
sub property of: hasCountry
domain: FinancialServiceProvider
range: Country
definition: indicates, with respect to a foreign bank, the country in which the foreign bank is chartered or incorporated
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21

has home country supervisor
type: ObjectProperty
sub property of: isRegulatedBy
domain: FinancialServiceProvider
range: RegulatoryAgency
definition: indicates, with respect to a foreign bank, the governmental entity or entities in the foreign bank's home country with responsibility for the supervision and regulation of the foreign bank
adapted from: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-211/subpart-B/section-211.21

is subject to reserve requirements
type: DatatypeProperty
domain: FinancialServiceProvider
range: boolean
definition: indicates whether some capability of a financial service provider is contingent on conformance with certain Federal Reserve policies, regulations, or other requirements