# § 27. Definitions
**(a)** **Bank** In sections 27 to 27f of this title, the term “bank” means—
**(1)** any depository institution (as defined in section 1813(c) of title 12);
**(2)** any foreign bank or branch or agency of a foreign bank (each as defined in section 3101 of title 12);
**(3)** any Federal or State credit union (as defined in section 1752 of title 12);
**(4)** any corporation organized under section 25A of the Federal Reserve Act [12 U.S.C. 611 et seq.];
**(5)** any corporation operating under section 25 of the Federal Reserve Act [12 U.S.C. 601 et seq.];
**(6)** any trust company; or
**1** any subsidiary of any entity described in paragraph [^1] (1) through (6) of this subsection, if the subsidiary is regulated as if the subsidiary were part of the entity and is not a broker or dealer (as such terms are defined in section 78c of title 15) or a futures commission merchant (as defined in section 1a of this title).
So in original. Probably should be “paragraphs”.
**(b)** **Identified banking product** In sections 27 to 27f of this title, the term “identified banking product” shall have the same meaning as in paragraphs (1) through (5) of section 206(a) of the Gramm-Leach-Bliley Act, except that in applying such section for purposes of sections 27 to 27f of this title—
**(1)** the term “bank” shall have the meaning given in subsection (a) of this section; and
**(2)** the term “qualified investor” means eligible contract participant (as defined in section 1a of this title, as in effect on December 21, 2000).
**(c)** **Hybrid instrument** section 27a of this titlesection 1a of this title
In sections 27 to 27f of this title, the term “hybrid instrument” means an identified banking product not excluded by , offered by a bank, having one or more payments indexed to the value, level, or rate of, or providing for the delivery of, one or more commodities (as defined in ).
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**Source Credit**: (Pub. L. 106–554, § 1(a)(5) [title IV, § 402], Dec. 21, 2000, 114 Stat. 2763, 2763A–457; Pub. L. 111–203, title VII, §§ 721(e)(9), 725(g)(1)(B), July 21, 2010, 124 Stat. 1672, 1694.)
## Editorial Notes
### References in Text
Section 25A of the Federal Reserve Act, referred to in subsec. (a)(4), is classified to subchapter II (§ 611 et seq.) of chapter 6 of Title 12, Banks and Banking. Section 25 of the Federal Reserve Act, referred to in subsec. (a)(5), is classified to subchapter I (§ 601 et seq.) of chapter 6 of Title 12.
Section 206 of the Gramm-Leach-Bliley Act, referred to in subsec. (b), is which is set out as a note under , Commerce and Trade.
### Codification
Section was enacted as part of the Legal Certainty for Bank Products Act of 2000, and also as part of the Commodity Futures Modernization Act of 2000, and not as part of the Commodity Exchange Act which comprises this chapter.
### Amendments
2010—Subsec. (a)(7). , substituted “section 1a” for “section 1a(20)”.
Subsec. (b)(2). , substituted “section 1a” for “section 1a(12)”.
Subsec. (c). , substituted “section 1a” for “section 1a(4)”.
Subsec. (d). , struck out subsec. (d) which defined covered swap agreement.
## Statutory Notes and Related Subsidiaries
### Effective Date of 2010 Amendment
Amendment by effective on the later of 360 days after , or, to the extent a provision of subtitle A (§§ 711–754) of title VII of requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see , set out as a note under .
### Short Title
For short title of sections 27 to 27f of this title as the “Legal Certainty for Bank Products Act of 2000”, see section 1(a)(5) [title IV, § 401] of , set out as a Short Title of 2000 Amendment note under .