As used in this chapter—
(1)
(A) *Bank.—* — The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter.
(B) *Bank system.—* — The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director.
(2) **State.—** — The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.
(3) The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.
(4) The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.
(5) The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
(6) The term “unpaid principal,” when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus
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Stable record: federal_law:legal_authorities:record_usc_6d5b16854743cce5a5220743 Source file: Laws/federal/codes/united-states-code/title-12/section-1422-definitions--fa2423a502.md Pages: Not recorded – Not recorded Passage SHA-256: 3b4336b815783e59cea41653c270cac85518c8a3e0d2d543cdcc87f7c058610a Retained source evidence SHA-256: 56a22bc9bf349e98d4b1d599792cc80b80bee562f2b7696400887cf750347ddf
Source location: Title 12, Chapter 11, § 1422; chapter-011-federal-home-loan-banks.md
Stored source content
As used in this chapter—
(1)
(A) *Bank.—* — The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter.
(B) *Bank system.—* — The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director.
(2) **State.—** — The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.
(3) The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.
(4) The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.
(5) The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
(6) The term “unpaid principal,” when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus earnings or dividends apportioned or credited thereon.
(7) An “amortized” or “installment” home mortgage loan shall, for the purposes of this chapter, be a home mortgage loan to be repaid or liquidated in not less than eight years by means of regular weekly, monthly, or quarterly payments made directly in reduction of the debt or upon stock or shares pledged as collateral for the repayment of such loan.
(8) **Savings association.—** — The term “savings association” has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)].
(9) **Insured depository institution.—** — The term “insured depository institution” means—
(A) an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)]), and
(B) except as used in sections 1441a 11 See References in Text note below. and 1441b of this title, an insured credit union (as defined in [section 1752 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1752&num=0&edition=prelim)).
(10) **Community financial institution.—**
(A) *In general.—* — The term “community financial institution” means a member—
(i) the deposits of which are insured under the Federal Deposit Insurance Act [[12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) et seq.]; and
(ii) that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
(B) *Adjustments.—* — The $1,000,000,000 limit referred to in subparagraph (A)(ii) shall be adjusted annually by the Director, based on the annual percentage increase, if any, in the Consumer Price Index for all urban consumers, as published by the Department of Labor.
(11) **Director.—** — The term “Director” means the Director of the Federal Housing Finance Agency.
(12) **Agency.—** — The term “Agency” means the Federal Housing Finance Agency, established under [section 4511 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4511&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
§ 1422. Definitions
As used in this chapter—
Page 281
TITLE 12—BANKS AND BANKING
§ 1422
1 See References in Text note below.
(1)(A) BANK.—The term ‘‘Federal Home Loan
Bank’’ or ‘‘Bank’’ means a bank established
under the authority of this chapter.
(B) BANK SYSTEM.—The term ‘‘Federal Home
Loan Bank System’’ means the Federal Home
Loan Banks under the supervision of the Di-
rector.
(2) STATE.—The term ‘‘State’’, in addition to
the States of the United States, includes the
District of Columbia, Guam, Puerto Rico, the
United
States
Virgin
Islands,
American
Samoa, and the Commonwealth of the North-
ern Mariana Islands.
(3) The term ‘‘member’’ means any institu-
tion which has subscribed for the stock of a
Federal Home Loan Bank.
(4) The term ‘‘home mortgage loan’’ means a
loan made by a member upon the security of a
home mortgage.
(5) The term ‘‘home mortgage’’ means a
mortgage upon real estate, in fee simple, or on
a leasehold (1) under a lease for not less than
ninety-nine years which is renewable or (2)
under a lease having a period of not less than
fifty years to run from the date the mortgage
was executed, upon which is located, or which
comprises or includes, one or more homes or
other dwelling units, all of which may be de-
fined by the Director and shall include, in ad-
dition to first mortgages, such classes of first
liens as are commonly given to secure ad-
vances on real estate by institutions author-
ized under this chapter to become members,
under the laws of the State in which the real
estate is located, together with the credit in-
struments, if any, secured thereby.
(6) The term ‘‘unpaid principal,’’ when used
in respect of a loan secured by a home mort-
gage means the principal thereof less the sum
of (1) payments made on
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1811. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 1811. Federal Deposit Insurance Corporation
(a) Establishment of Corporation
There is hereby established a Federal Deposit
Insurance Corporation (hereinafter referred to
as the ‘‘Corporation’’) which shall insure, as
hereinafter provided, the deposits of all banks
and savings associations which are entitled to
the benefits of insurance under this chapter, and
which shall have the powers hereinafter granted.
(b) Asset disposition division
(1) Establishment
The Corporation shall have a separate divi-
sion of asset disposition.
(2) Management
The division of asset disposition shall have
an administrator who shall be appointed by
the Board of Directors.
(3) Responsibilities of division
The division of asset disposition shall carry
out all of the responsibilities of the Corpora-
tion under this chapter relating to the liquida-
tion of insured depository institutions and the
disposition of assets of such institutions.
(Sept. 21, 1950, ch. 967, § 2[1], 64 Stat. 873; Pub. L.
101–73, title II, § 202, Aug. 9, 1989, 103 Stat. 188;
Pub. L. 103–204, § 22(a), Dec. 17, 1993, 107 Stat.
2407.)
Editorial Notes
CODIFICATION
The Federal Deposit Insurance Corporation was origi-
nally created as a part of the Federal Reserve Act by
act June 16, 1933, ch. 89, § 8, 48 Stat. 168, which added
section 12B to the Federal Reserve Act, act Dec. 23,
1913, ch. 6, 38 Stat. 103, and was classified to section 264
of this title. Act Dec. 23, 1913, ch. 6, § 12B, as added June
16, 1933, ch. 89, § 8, 48 Stat. 168 has been amended by acts
June 16, 1934, ch. 546, § 1(1)–(10), 48 Stat. 969, 970; June 28,
1935, ch. 335, 49 Stat. 435; Aug. 23, 1935, ch. 614, § 101, 49
Stat. 684; Apr. 21, 1936, ch. 244, 49 Stat. 1237; May 25,
1938, ch. 276, 52 Stat. 442; June 16, 1938, ch. 489,
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1811. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1813. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 1813. Definitions
As used in this chapter—
(a) Definitions of bank and related terms
(1) Bank
The term ‘‘bank’’—
(A) means any national bank and State
bank, and any Federal branch and insured
branch;
(B) includes any former savings associa-
tion.
(2) State bank
The term ‘‘State bank’’ means any bank,
banking association, trust company, savings
bank, industrial bank (or similar depository
institution which the Board of Directors
finds to be operating substantially in the
same manner as an industrial bank), or
other banking institution which—
(A) is engaged in the business of receiv-
ing deposits, other than trust funds (as de-
fined in this section); and
(B) is incorporated under the laws of any
State or which is operating under the Code
of Law for the District of Columbia,
including any cooperative bank or other un-
incorporated bank the deposits of which
were insured by the Corporation on the day
before August 9, 1989.
(3) State
The term ‘‘State’’ means any State of the
United States, the District of Columbia, any
territory of the United States, Puerto Rico,
Guam, American Samoa, the Trust Territory
of the Pacific Islands, the Virgin Islands,
and the Northern Mariana Islands.
(b) Definition of savings associations and re-
lated terms
(1) Savings association
The term ‘‘savings association’’ means—
(A) any Federal savings association;
(B) any State savings association; and
Page 967
TITLE 12—BANKS AND BANKING
§ 1813
(C) any corporation (other than a bank)
that the Board of Directors and the Comp-
troller of the Currency jointly determine
to be operating in substantially the same
manner as a savings association.
(2) Federal savings association
The term ‘‘Federal savings association’’
means any Federal savings association or
Federal
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1813. This identifies an authority to review, not proof of applicability.