Cayman Islands Financial Institution definition

Cayman Islands Financial Institution means (i) any Financial Institution resident in the Cayman Islands, but excluding any branches of such Financial Institution that are located outside the Cayman Islands, and (ii) any branch of a Financial Institution not resident in the Cayman Islands, if such branch is located in the Cayman Islands.
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Examples of Cayman Islands Financial Institution in a sentence

  • An Entity that is a Cayman Islands Financial Institution solely because it is an Investment Entity, provided that each direct holder of an Equity Interest in the Entity is an exempt beneficial owner, and each direct holder of a debt interest in such Entity is either a Depository Institution (with respect to a loan made to such Entity) or an exempt beneficial owner.

  • A Reporting Cayman Islands Financial Institution must implement procedures to ensure that a relationship manager identifies any change in circumstances of an account.

  • A Reporting Cayman Islands Financial Institution may not rely on a self-certification or documentary evidence if the Reporting Cayman Islands Financial Institution knows or has reason to know that the self-certification or documentary evidence is incorrect or unreliable.

  • The Reporting Cayman Islands Financial Institution/Cayman Islands resident trustee must undertake the reporting obligations in respect of a Cayman Islands resident trust, where required, unless it has actual knowledge that the information that is required to be reported under the Agreements is being reported by another Financial Institution, whether that Financial Institution is a Cayman Islands Financial Institution or not.

  • For purposes of determining the aggregate balance or value of accounts held by a person to determine whether an account is a High Value Account, a Reporting Cayman Islands Financial Institution shall also be required, in the case of any accounts that a relationship manager knows or has reason to know are directly or indirectly owned, controlled, or established (other than in a fiduciary capacity) by the same person, to aggregate all such accounts.

  • If a Preexisting Individual Account is a High Value Account as of 30 June 2014, the Reporting Cayman Islands Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by 30 June 2015.

  • With respect to New Entity Accounts not described in paragraph A of this section, the Reporting Cayman Islands Financial Institution must determine whether the Account Holder is: (i) a Specified United Kingdom Person; (ii) a Non-United Kingdom Resident Entity which is a Financial Institution; (iii), a non-reporting Financial Institution; (v) an exempt beneficial owner; (vi) an Active NFFE or a Passive NFFE.

  • If based on this review such account is identified as a United Kingdom Reportable Account, the Reporting Cayman Islands Financial Institution must report the required information about such account with respect to the year in which it is identified as a United Kingdom Reportable Account and subsequent years on an annual basis, unless the Account Holder ceases to be a Specified Person.

  • If there is a change of circumstances with respect to a High Value Account that results in one or more United Kingdom indicia described in subparagraph B.1. of this section being associated with the account, then the Reporting Cayman Islands Financial Institution must treat the account as a United Kingdom Reportable Account unless it elects to apply subparagraph B.4. of this section and one of the exceptions in that subparagraph applies with respect to that account.

  • Once a Reporting Cayman Islands Financial Institution applies the enhanced review procedures described in paragraph D of this section to a High Value Account, the Reporting Cayman Islands Financial Institution shall not be required to re-apply such procedures, other than the relationship manager inquiry in subparagraph D.4. of this section, to the same High Value Account in any subsequent year.

Related to Cayman Islands Financial Institution

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • Qualified United States financial institution means an institution that:

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • Partner Jurisdiction Financial Institution means (i) any Financial Institution established in a Partner Jurisdiction, but excluding any branch of such Financial Institution that is located outside the Partner Jurisdiction, and (ii) any branch of a Financial Institution not established in the Partner Jurisdiction, if such branch is located in the Partner Jurisdiction.

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Participating Financial Institution means a Financial Institution that has been approved by the Authority to enroll Qualified Loans in the Program and has agreed to all terms and conditions set forth in the Law and this Article and as may be required by any applicable federal law providing matching funding.

  • Financial institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

  • Financial Institutions has the meaning set forth in the preamble in this Agreement.

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • National bank means a national banking association

  • Nonparticipating Financial Institution means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a [FATCA Partner] Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution identified as a Nonparticipating Financial Institution pursuant to paragraph 2 of Article 5.

  • International Borrower In connection with any Mortgage Loan, a borrower who is (a) a United States citizen employed in a foreign country, (b) a non-permanent resident alien employed in the United States or (c) a citizen of a country other than the United States with income derived from sources outside the United States.

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • Licensed financial institution means a financial institution issued a license under this act.

  • Goldman Sachs means Goldman Sachs & Co. LLC.

  • Foreign Bank means an organization that (i) is organized under the laws of a foreign country, (ii) engages in the business of banking, (iii) is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations, (iv) receives deposits to a substantial extent in the regular course of its business, and (v) has the power to accept demand deposits, but does not include the U.S. branches or agencies of a foreign bank;

  • Investment Bank means each of those reputable internationally recognised investment banks, selected from time to time as First Choice Investment Banks or as a Third Investment Bank in terms of Section 1.4 or Section 1.5 of the Subscription Agreement (as the case may be), whose Mandate Letters remain effective.