§ 781. Definitions

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

• (1) The term “Board” means the Board of Governors of the Federal Reserve System.
• (2) The term “depository institution” has the same meaning as in section 3 of the Federal Deposit Insurance Act.
• (3) 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 1 See References in Text note below. of the Federal Deposit Insurance Corporation Improvement Act of 1991.