qualifying insured System bank
Defined in 1 dictionary — U.S. Code
United States Code
12 U.S.C. § 2277A — in this section
For purposes of subparagraph (A), the term “qualifying insured System bank” means any insured System bank that—
(i) is in receivership;
(ii) is, in the judgment of the Board of Directors, in danger of being placed in receivership; or
(iii) is, in the sole discretion of the Corporation, an insured System bank that, when severe financial conditions exist that threaten the stability of a significant number of insured System banks or of insured System banks possessing significant financial resources, requires assistance under subparagraph (A) to lessen the risk to the Corporation posed by such insured System bank under such threat of instability.