; and (3) by adding at the end the following: (8) any Federal Home Loan Bank (as defined in section 2 of the Federal Home Loan Bank Act). . 317. Treatment of certain funds (a) Amendment to the definition of commodity pool operator Section 1a(12) of the Commodity Exchange Act ( 7 U.S.C. 1a(11) ), as so redesignated by section 304(b)(1) of this Act, is amended by adding at the end the following: (C) (i) The term commodity pool operator does not include a person who serves as an investment adviser to an investment company registered pursuant to section 8 of the Investment Company Act of 1940 or a subsidiary of such a company, if the investment company or subsidiary invests, reinvests, owns, holds, or trades in commodity interests limited to only financial commodity interests. (ii) For purposes of this subparagraph only, the term financial commodity interest means a futures contract, an option on a futures contract, or a swap, involving a commodity that is not an exempt commodity or an agricultural commodity, including any index of financial commodity interests, whether cash settled or involving physical delivery. (iii) For purposes of this subparagraph only, the term commodity does not include a security issued by a real estate investment trust, business development company, or issuer of asset-backed securities, including any index of such securities. . (b) Amendment to the definition of commodity trading advisor Section 1a(13) of such Act ( 7 U.S.C. 1a(12) ), as so redesignated by section 304(b)(1) of this Act, is amended by adding at the end the following: (E) The term commodity trading advisor does not include a person who serves as an investment adviser to an investment company registered pursuant to section 8 of the Investment Company Act of 1940 or a subsidiary of such a company, if the commodity trading advice relates only to a financial commodity interest, as defined in paragraph (12)(C)(ii) of this section. For purposes of this subparagraph only, the term commodity does not include a security issued by a