DFI-SL 21.02   Financial activity.

DFI-SL 21.03   Control and interest.

DFI-SL 21.04   Application.

DFI-SL 21.05   Conditions and requirements.

DFI-SL 21.06   Capital deduction.

DFI-SL 21.07   Disclosure.

DFI-SL 21.08   Safeguards for the financial institution.

DFI-SL 21.09   Affiliate requirements.

DFI-SL 21.10   Preservation of existing subsidiaries.

DFI-SL 21.11   Examination and supervision.

DFI-SL 21.12   Report of disposition of financial subsidiary.

DFI-SL 21.01 DFI-SL 21.01 Definitions. In this chapter:

DFI-SL 21.01(1) (1) “Affiliate” has the meaning set forth in s. 221.0901, Stats.

DFI-SL 21.01(2) (2) “Company” has the meaning set forth in s. 221.0901, Stats.

DFI-SL 21.01(3) (3) “Control” has the meaning set forth in s. 221.0901, Stats.

DFI-SL 21.01(4) (4) “Division” means the division of banking.

DFI-SL 21.01(5) (5) “Financial institution” means a state savings and loan chartered under ch. 215, Stats.

DFI-SL 21.01(6) (6) “Financial subsidiary” means any company that is controlled by one or more insured depository institutions other than a subsidiary that a financial institution is authorized to control under other applicable law, or a subsidiary that engages solely in activities that a financial institution is permitted to engage in directly and are conducted subject to the same terms and conditions that govern the conduct of such activities by the financial institution.

DFI-SL 21.01(7) (7) “Insured depository institution” has the meaning set forth in 12 USC 1813(c)(2).

DFI-SL 21.01(8) (8) “Subsidiary” has the meaning set forth in s. 221.0901, Stats.

DFI-SL 21.01(9) (9) “Well capitalized” has the meaning set forth in 12 USC 1831o(b)(1)(A).

DFI-SL 21.01 History History: Cr. Register, October, 2000, No. 538, eff. 11-1-00; correction in (4) made under s. 13.92 (4) (b) 6., Stats., Register March 2020 No. 771.

DFI-SL 21.02 DFI-SL 21.02 Financial activity. For the purposes of this chapter, the following activities shall be considered to be financial in nature:

DFI-SL 21.02(1) (1) Lending, exchanging, transferring, investing for others, or safeguarding money or securities.

DFI-SL 21.02(2) (2) Engaging as agent or broker in any state for purposes of insuring, guaranteeing, or indemnifying against loss, harm, damage, illness, disability, death, or defects in title, or providing annuities as agent or broker.

DFI-SL 21.02(3) (3) Issuing or selling instruments representing interests in pools of assets permissible for a bank to hold directly.

DFI-SL 21.02(4) (4) Underwriting, dealing in, or making a market in securities.

DFI-SL 21.02(5) (5) Extending credit and servicing loans, including making, acquiring, brokering, or servicing loans or other extensions of credit (such as factoring, issuing letters of credit, and accepting drafts) for the financial subsidiary’s account or for the account of others.