Federal intermediate credit bank definition

Federal intermediate credit bank means any federal intermediate credit bank chartered by the farm credit administration pursuant to the "Federal Farm Loan Act", as amended.
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Federal intermediate credit bank means a bank sponsored by the federal government to provide funds to financial institutions for the mak- ing of agricultural loans.
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Examples of Federal intermediate credit bank in a sentence

  • Any Federal reserve bank may also buy and sell debentures and other such obligations is- sued by a Federal intermediate credit bank or by a national agricultural credit corporation, but only to the same extent as and subject to the same limitations as those upon which it may buy and sell bonds issued under title I of the Federal Farm Loan Act.(Dec.

  • Any Federal reserve bank may, subject to reg-tem, rediscount such notes, drafts, and bills mentioned in section 348 of this title for any Federal intermediate credit bank, except that no Federal reserve bank shall rediscount for a Federal intermediate credit bank any such note or obligation which bears the indorsement of a nonmember State bank or trust company which is eligible for membership in the Federal reserve system in accordance with subchapter VIII of this chapter.

  • Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporationsAny Federal reserve bank may also buy and sell debentures and other such obligations is- sued by a Federal intermediate credit bank or by a national agricultural credit corporation, but only to the same extent as and subject to the same limitations as those upon which it may buy and sell bonds issued under title I of the Federal Farm Loan Act.(Dec.

  • Loans made by a Federal intermediate credit bank in participation with a production credit association or another Federal intermediate credit bank shall adhere to the same security requirements as prescribed in § 614.4250 for production credit associations.

  • In accordance with the principle of decentralization, each Federal land bank and Federal intermediate credit bank shall develop human resources policies for associations within the district consistent with these regulations and policy direction provided by the bank board.

  • When an OFI has loans outstanding to borrowers in more than one Farm Credit district, it shall establish its eligibility with the Federal intermediate credit bank in whose territory the OFI has its principal place of business.

  • Where two or more entities combine resources to form an OFI to apply for access to a Federal intermediate credit bank, the request for access shall be evaluated according to the criteria set forth in §§ 614.4545 and 614.4550 of this subpart.

  • No OFI having access to a bank on the effective date of these regulations shall be required to change its relationship to another Federal intermediate credit bank unless the OFI changes its headquarters location or its lending territory.

  • No obligation offered for discount by an OFI shall be accepted if the rate charged the borrower exceeds by more than 4 percent the rate of the Federal intermediate credit bank in effect on the date the loan was made or, with respect to variable rate loans, the rate in effect from time to time throughout the loan.

  • Any Federal reserve bank may also buy and sell debentures and other such obligations is- sued by a Federal intermediate credit bank or by a national agricultural credit corporation, but only to the same extent as and subject to 1 See References in Text note below.the same limitations as those upon which it may buy and sell bonds issued under title I of the Federal Farm Loan Act.(Dec.

Related to Federal intermediate credit bank

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Designated Account Bank has the meaning specified therefor in Schedule D-1 to the Agreement (or such other bank that is located within the United States that has been designated as such, in writing, by Borrowers to Agent).

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Qualified United States financial institution means an institution that:

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Administrative agency or "agency" means each board, bureau, commission,

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Administrative Agent's Payment Office means the address for payments set forth on the signature pages hereof in relation to the Administrative Agent or such other address as the Administrative Agent may from time to time specify in accordance with Section 10.01.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • U.S. Credit Agreement means that certain credit agreement dated as of even date herewith by and among the U.S. Borrower, as borrower, the lenders party thereto, as lenders, and the U.S. Administrative Agent, as administrative agent.

  • Foreign Bank means an organization that (i) is organized under the laws of a foreign country, (ii) engages in the business of banking, (iii) is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations, (iv) receives deposits to a substantial extent in the regular course of its business, and (v) has the power to accept demand deposits, but does not include the U.S. branches or agencies of a foreign bank;

  • Eligible Bank means a bank or trust company that (i) is organized and existing under the laws of the United States of America or Canada, or any state, territory, province or possession thereof, (ii) as of the time of the making or acquisition of an Investment in such bank or trust company, has combined capital and surplus in excess of $500.0 million and (iii) the senior Debt of which is rated at least “A-2” by Moody’s or at least “A” by Standard & Poor’s.

  • Revolving Administrative Agent has the meaning assigned to such term in the preamble of this Agreement.

  • Blocked Account Banks means the banks with whom deposit accounts are maintained in which material amounts (as reasonably determined by the Administrative Agent) of funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Administrative Agent’s Fee Letter means that certain letter agreement, dated as of July 28, 2010, among the Administrative Agent, Banc of America Securities LLC, the Borrower and the Parent, as amended, modified, restated or supplemented from time to time.

  • Credit Facility Provider means the issuer of or obligor under a Credit Facility.

  • Banking Product Obligations means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person in respect of any treasury, depository and cash management services, netting services and automated clearing house transfers of funds services, including obligations for the payment of fees, interest, charges, expenses, attorneys’ fees and disbursements in connection therewith.

  • Administrative Agent’s Letter shall have the meaning specified in Section 10.9 [Administrative Agent’s Fee].

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • Cash Management System shall have the meaning assigned to such term in Section 9.01.

  • Applicable agency means GNMA, FNMA or FHLMC, as applicable.