CFR > Title 12 > Chapter II > Subchapter A > Part 223 > Subpart E – Exemptions From the Provisions of Section 23A
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In CFR > Title 12 > Chapter II > Subchapter A > Part 223 > Subpart E - Exemptions From the Provisions of Section 23A
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC