Title 12 — Banks and BankingRelease 119-73not60
§2282 Definitions
Title 12 › Chapter 24— FEDERAL FINANCING BANK › § 2282
Summary
Defines words used in the chapter. "Federal agency" is an executive department, an independent federal establishment, or a Congress-created corporation partly or wholly owned by the United States. "Obligation" covers notes, bonds, debentures, or other debt instruments but not Federal Reserve notes or ownership stock. "Guarantee" covers promises or insurance to pay principal or interest, excluding deposit insurance. "Bank" means the Federal Financing Bank established by section 2283.
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 3, 2026
Release point: 119-73not60