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 oper- ates, or operates as, a multilateral clearing or- ganization pursuant to section 409 1 of the Fed- eral Deposit Insurance Corporation Improve- ment Act of 1991. (Added Pub. L. 106–554, § 1(a)(5) [title I, § 112(c)(5)(B)], Dec. 21, 2000, 114 Stat. 2763, 2763A–394.) Section 3 of the Federal Deposit Insurance Act, re- ferred to in par. (2), is classified to section 1813 of Title 12, Banks and Banking.
Appears in 3 contracts
Samples: Damages Measurement Agreement, Offset Agreement, Timing of Damage Measurement in Connection With Swap Agreements, Securities Contracts, Forward Contracts, Commodity Contracts, Repurchase Agreements, and Master Netting Agreements
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 oper- ates, or operates as, a multilateral clearing or- ganization pursuant to section 409 1 of the Fed- eral Deposit Insurance Corporation Improve- ment Act of 1991. (Added Pub. L. 106–554, § 1(a)(5) [title I, § 112(c)(5)(B)], Dec. 21, 2000, 114 Stat. 2763, 2763A–394.) Section 3 of the Federal Deposit Insurance Act, re- ferred to in par. (2), is classified to section 1813 of Title 12, Banks and Banking.
Appears in 1 contract
Samples: Netting Agreement
