Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
029 - BUREAU OF FINANCIAL INSTITUTIONS
Chapter 131 - ASSESSMENTS - FINANCIAL INSTITUTIONS (REG. 31)
Section 029-131-III - DEFINITIONS

Universal Citation: 02 ME Code Rules ยง 029-131-III

Current through 2024-38, September 18, 2024

For purposes of this regulation, the following terms have the following meanings:

A. "Federal regulator" means the Federal Deposit Insurance Corporation for banks, the Office of Thrift Supervision for savings and loans associations, and the National Credit Union Administration for credit unions.

B. "Financial institution" means a universal bank, limited purpose bank, trust company, savings bank, industrial bank, savings and loans association or credit union organized under the laws of this State. Excluded from the definition of "financial institution" is any limited purpose bank that is predominantly engaged in the business of a nondepository trust company and is subject to Bureau of Financial Institutions Regulation 41 (Chapter 141).

C. "Total assets" means the total of assets plus the total of the Allowance for Loans and Lease Losses reported on the financial institution's Report of Condition as required by the institution's federal regulator.

D. "Total of average assets" means the sum of total assets reported for all months in the assessment period divided by the number of months in the assessment period.

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