§5202 Definitions

Summary

Defines key words used in this chapter and says which people, agencies, funds, programs, and types of financial assets those words refer to. appropriate committees of Congress — the Senate committees on Banking, Housing, and Urban Affairs; Finance; Budget; and Appropriations, and the House committees on Financial Services; Ways and Means; Budget; and Appropriations. Board — the Board of Governors of the Federal Reserve System. congressional support agencies — the Congressional Budget Office and the Joint Committee on Taxation. Corporation — the Federal Deposit Insurance Corporation. financial institution — banks, savings associations, credit unions, broker‑dealers, insurance companies, and similar firms set up and supervised under U.S. law and operating in the United States, the District of Columbia, Puerto Rico, the Northern Mariana Islands, Guam, American Samoa, or the U.S. Virgin Islands, but not foreign central banks or government‑owned foreign institutions. Fund — the Troubled Assets Insurance Financing Fund (section 5212). Secretary — the Secretary of the Treasury. TARP — the Troubled Asset Relief Program (section 5211). troubled assets — (A) residential or commercial mortgages and related securities issued on or before March 14, 2008, that the Secretary decides help market stability; and (B) any other financial instrument the Secretary, after consulting the Chair of the Federal Reserve Board, decides is needed for market stability, but only after sending that written decision to the appropriate congressional committees.