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Wisconsin Statutes Banking and Finance (Ch. 214 to 225) § 222.0102. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

In this chapter:

(1) “Capital” of a universal bank means the sum of the following, less the amount of intangible assets that is not considered to be qualifying capital by a deposit insurance corporation or the division:

(a) For a universal bank organized as a stock organization, the universal bank's capital stock, preferred stock, undivided profits, surplus, outstanding notes and debentures approved by the division, other forms of capital designated as capital by the division, and other forms of capital considered to be qualifying capital of the universal bank by a deposit insurance corporation.

(b) For a universal bank organized as a mutual organization, the universal bank's net worth, undivided profits, surplus, outstanding notes and debentures approved by the division, other forms of capital designated as capital by the division, and other forms of capital considered to be qualifying capital by a deposit insurance corporation.

(2) “Deposit insurance corporation” means the Federal Deposit Insurance Corporation or other instrumentality of, or corporation chartered by, the United States that insures deposits of financial institutions and that is supported by the full faith and credit of the U.S. government as stated in a congressional resolution.

(3) “Division” means the division of banking.

(4) “Financial institution” means a savings bank organized under ch. 214, savings and loan association organized under ch. 215, or bank chartered under ch. 221.

(5) “Universal bank” means a financial institution that has been issued a certificate of authority under s. 222.0205.

(6) “Well-capitalized” has the meaning given in 12 USC 1831o(b)(1)(A).

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Cite this article: FindLaw.com - Wisconsin Statutes Banking and Finance (Ch. 214 to 225) § 222.0102. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/wi/banking-and-finance-ch-214-to-225/wi-st-222-0102/

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