covered contractual payment obligation
Defined in 1 place of the United States Code.
The term “covered contractual payment obligation” means—
(A) an obligation of a financial institution to make payment, subject to a netting contract to another financial institution; and
(B) a covered clearing obligation.
Source
- 1994–present12 U.S.C. § 4402Banks and Banking · Definitions · for purposes of this subchapter