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§ 242.4 - Significant nonbank financial companies and significant bank holding companies.

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For purposes of Title I of the Dodd-Frank Act, the following definitions shall apply:

Significant nonbank financial company. A “significant nonbank financial company” means—

Any nonbank financial company supervised by the Board; and

Any other nonbank financial company that had $50 billion or more in total consolidated assets (as determined in accordance with applicable accounting standards) as of the end of its most recently completed fiscal year.

Significant bank holding company. A “significant bank holding company” means any bank holding company or company that is, or is treated in the United States as, a bank holding company, that had $50 billion or more in total consolidated assets as of the end of the most recently completed calendar year, as reported on either the Federal Reserve's FR Y-9C (Consolidated Financial Statement for Bank Holding Companies), or any successor form thereto, or the Federal Reserve's Form FR Y-7Q (Capital and Asset Report for Foreign Banking Organizations), or any successor form thereto.

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§ 242.3 - Nonbank companies “predominantly engaged” in financial activities.
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