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.
Section 3 of the Federal Deposit Insurance Act, referred to in par. (2), is classified to section
1813 of Title
12, Banks and Banking.
Section 25A of the Federal Reserve Act, referred to in par. (3), popularly known as the Edge Act, is classified to subchapter II (§ 611 et seq.) of chapter
6 of Title
12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under section
611 of Title
12 and Tables.
Section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991, referred to in par. (3), which was classified to section
4422 of Title
12, Banks and Banking, was repealed by Pub. L. 111–203, title VII, § 740,July 21, 2010, 124 Stat. 1729.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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