7 U.S.C. § 27a: Exclusion of identified banking product

the Commodity Exchange Act ( 7 U.S.C. 1 et seq.) shall not apply to, and the Commodity Futures Trading Commission shall not exercise regulatory authority under the Commodity Exchange Act ( 7 U.S.C. 1 et seq.) with respect to, an identified banking product; and the definitions of “security-based swap” in section 3(a)(68) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78c(a)(68) ] and “security-based swap agreement” in section 1a(47)(A)(v) of the Commodity Exchange Act [ 7 U.S.C. 1a(47)(A)(v) ] and section 3(a)(78) of the Securities Exchange Act of 1934 [ 15 U.S.C. 78c(a)(78) ] do not include any identified bank product. would meet the definition of a “swap” under section 1a(47) of the Commodity Exchange Act ( 7 U.S.C. 1a [47]) or a “security-based swap” under that 1 section 3(a)(68) of the Securities Exchange Act of 1934; and 1 So in original. has become known to the trade as a swap or security-based swap, or otherwise has been structured as an identified banking product for the purpose of evading the provisions of the Commodity Exchange Act ( 7 U.S.C. 1 et seq.), the Securities Act of 1933 ( 15 U.S.C. 77a et seq.), or the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.). is a product of a bank that is not under the regulatory jurisdiction of an appropriate Federal banking agency; meets the definition of swap in section 1a(47) of the Commodity Exchange Act or security-based swap in section 3(a)(68) of the Securities Exchange Act of 1934; and has become known to the trade as a swap or security-based swap, or otherwise has been structured as an identified banking product for the purpose of evading the provisions of the Commodity Exchange Act ( 7 U.S.C. 1 et seq.), the Securities Act of 1933 ( 15 U.S.C. 77a et seq.), or the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.).