(1) FFI stands for Foreign FinancialInstitution. It refers toany foreign entity that:
● Accepts deposits in the ordinarycourse of a banking orsimilar business (banks, creditunions),
● Holds financial assets for theaccount of others as a substantialportion of its business(brokerages, custodians),or
● Is engaged (or holding itselfout as being engaged) primarilyin the business of investing,reinvesting, or trading insecurities, partnership interests,commodities, or any interest