i) is subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking activities. "Regulated Affiliate" shall mean a Foreign Shell Bank that is an affiliate of a depository institution, credit union or Foreign Bank that maintains a Physical Presence in the U.S. or a foreign country r

s defined in the USA PATRIOT Act; and (v) its subscription funds do not originate from, nor will they be routed through, an account maintained at a Foreign Shell Bank, an "offshore bank,'" or a bank organized or charted under the laws of a jurisdiction deemed to be a non- cooperative country or territory ("Nccrt.