((a)) ** In general** For purposes of this subchapter, unless the context otherwise requires, the following definitions shall apply:

((1)) ** Bank holding company** The term “bank holding company” has the same meaning as in section 2 of the Bank Holding Company Act of 1956 (). A foreign bank or company that is treated as a bank holding company for purposes of the Bank Holding Company Act of 1956 [ et seq.], pursuant to , shall be treated as a bank holding company for purposes of this subchapter.12 U.S.C. 184112 U.S.C. 1841section 3106(a) of this title

((2)) ** Chairperson** The term “Chairperson” means the Chairperson of the Council.

((3)) ** Member agency** The term “member agency” means an agency represented by a voting member of the Council.

((4)) ** Nonbank financial company definitions**

((A)) ** Foreign nonbank financial company** The term “foreign nonbank financial company” means a company (other than a company that is, or is treated in the United States as, a bank holding company) that is—

((i)) incorporated or organized in a country other than the United States; and

((ii)) predominantly engaged in, including through a branch in the United States, financial activities, as defined in paragraph (6).

((B)) ** U.S. nonbank financial company** The term “U.S. nonbank financial company” means a company (other than a bank holding company, a Farm Credit System institution chartered and subject to the provisions of the Farm Credit Act of 1971 ( et seq.), or a national securities exchange (or parent thereof), clearing agency (or parent thereof, unless the parent is a bank holding company), security-based swap execution facility, or security-based swap data repository registered with the Commission, or a board of trade designated as a contract market (or parent thereof), or a derivatives clearing organization (or parent thereof, unless the parent is a bank holding company), swap execution facility or a swap data repository registered with the Commodity Futures Trading Commission), that is—

((i)) incorporated or organized under the laws of the United States or any State; and

((ii)) predominantly engaged in financial activities, as defined in paragraph (6).

((C)) ** Nonbank financial company** The term “nonbank financial company” means a U.S. nonbank financial company and a foreign nonbank financial company.

((D)) ** Nonbank financial company supervised by the Board of Governors** The term “nonbank financial company supervised by the Board of Governors” means a nonbank financial company that the Council has determined under shall be supervised by the Board of Governors.section 5323 of this title

((5)) ** Office of Financial Research** The term “Office of Financial Research” means the office established under .section 5342 of this title

((6)) ** Predominantly engaged** A company is “predominantly engaged in financial activities” if—

((A)) the annual gross revenues derived by the company and all of its subsidiaries from activities that are financial in nature (as defined in section 4(k) of the Bank Holding Company Act of 1956 []) and, if applicable, from the ownership or control of one or more insured depository institutions, represents 85 percent or more of the consolidated annual gross revenues of the company; or

((B)) the consolidated assets of the company and all of its subsidiaries related to activities that are financial in nature (as defined in section 4(k) of the Bank Holding Company Act of 1956) and, if applicable, related to the ownership or control of one or more insured depository institutions, represents 85 percent or more of the consolidated assets of the company.

((7)) ** Significant institutions** The terms “significant nonbank financial company” and “significant bank holding company” have the meanings given those terms by rule of the Board of Governors, but in no instance shall the term “significant nonbank financial company” include those entities that are excluded under paragraph (4)(B).

((b)) ** Definitional criteria** The Board of Governors shall establish, by regulation, the requirements for determining if a company is predominantly engaged in financial activities, as defined in subsection (a)(6).

((c)) ** Foreign nonbank financial companies** For purposes of the application of parts A and C (other than ) with respect to a foreign nonbank financial company, references in this subchapter to “company” or “subsidiary” include only the United States activities and subsidiaries of such foreign company, except as otherwise provided.section 5323(b) of this title