§ 216 Purpose
§ 216a Definitions
§ 216b Disposition of unclaimed property
§ 216c Rules and regulations
§ 216d Severability

Terms Used In U.S. Code > Title 12 > Chapter 2 > Subchapter XVII

  • 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