eligible debt
Defined in 1 place of the United States Code.
The term “eligible debt” means unsecured long-term debt that—
(A) is not supported by any form of credit enhancement, including a guarantee or standby letter of credit; and
(B) is not held in whole or in any significant part by any affiliate, officer, director, principal shareholder, or employee of the bank or any other person acting on behalf of or with funds from the bank or an affiliate of the bank.
Source
- 1999–present12 U.S.C. § 24ABanks and Banking · Financial subsidiaries of national banks · for purposes of this section