Section 781 – Definitions

For purposes of this subchapter, the following definitions shall apply:

(1) Board.— The term “Board” means the Board of Governors of the Federal Reserve System.

(2) Depository institution.— The term “depository institution” has the same meaning as in section 3 of the Federal Deposit Insurance Act.

(3) 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.