U.S. Code > Title 11 Bankruptcy > CHAPTER 7—LIQUIDATION (§§ 701—784) > SUBCHAPTER V—CLEARING BANK LIQUIDATION (§§ 781—784) > § 781. Definitions

§ 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 of the Federal Deposit Insurance Corporation Improvement Act of 1991.