12 CFR 328.1

§ 328.1 Definitions.

United States · 12 CFR — Banks and Banking · Status: effective

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Citation: 12 CFR 328.1, § 328.1 Definitions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/46559
Permanent ID: ys:prov:46559@1
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Full text

Branch has the same meaning as the term “domestic branch” as set forth under section 3(o) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(o). Corporation means the Federal Deposit Insurance Corporation. Deposit has the same meaning as set forth under section 3(l) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(l). Digital deposit-taking channel means websites, banking applications, and any other electronic communications method through which an insured depository institution accepts deposits. Hybrid product means a product or service that has both deposit product features and non-deposit product features. A sweep account is an example of a hybrid product. Insured depository institution has the same meaning as set forth under section 3(c)(2) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(c)(2). Non-deposit product means any product that is not a “deposit”, including, but not limited to: insurance products, annuities, mutual funds, securities and crypto-assets. For purposes of this definition, credit products and safe deposit boxes are not non-deposit products.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.