Title 12 — Banks and BankingRelease 119-73

§2282 Definitions

Title 12 › Chapter CHAPTER 24— - FEDERAL FINANCING BANK › § 2282

Last updated Apr 6, 2026|Official source

Summary

Defines four key words used in this chapter. Federal agency means an executive department, an independent federal agency, or a company set up by Congress that the United States owns all or part of. Obligation means a note, bond, debenture, or other IOU, but not Federal Reserve notes or stock that shows ownership in the agency. Guarantee means a promise, insurance, or pledge to cover all or part of the principal or interest on an obligation, but not deposit insurance or guarantees for withdrawable bank accounts. Bank means the Federal Financing Bank created by law.

Full Legal Text

Title 12, §2282

Banks and Banking — Source: USLM XML via OLRC

For the purposes of this chapter—

(1)The term “Federal agency” means an executive department, an independent Federal establishment, or a corporation or other entity established by the Congress which is owned in whole or in part by the United States.

(2)The term “obligation” means any note, bond, debenture, or other evidence of indebtedness, but does not include Federal Reserve notes or stock evidencing an ownership interest in the issuing Federal agency.

(3)The term “guarantee” means any guarantee, insurance, or other pledge with respect to the payment of all or part of the principal or interest on any obligation, but does not include the insurance of deposits, shares, or other withdrawable accounts in financial institutions, or any guarantee or pledge arising out of a statutory obligation to insure such deposits, shares, or other withdrawable accounts.

(4)The term “Bank” means the Federal Financing Bank established by section 2283 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 2282

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73