clearing bank
Defined in 1 place of the United States Code.
Clearing bank.—The term "clearing bank" means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 1 of the Federal Deposit Insurance Corporation Improvement Act of 1991.
Source
- 2011–present11 U.S.C. § 781Bankruptcy · Definitions · for purposes of this subchapter
Clearing bank.—The term “clearing bank” means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991.
Source
- 2000–201111 U.S.C. § 781Bankruptcy · Definitions · for purposes of this subchapter
The term “clearing bank” means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 1 of the Federal Deposit Insurance Corporation Improvement Act of 1991.
Source
- 201311 U.S.C. § 781Bankruptcy · Definitions · for purposes of this subchapter