§ 221. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC221]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER I--DEFINITIONS, ORGANIZATION, AND GENERAL PROVISIONS
AFFECTING SYSTEM
Sec. 221. Definitions
Wherever the word ``bank'' is used in this chapter, the word shall
be held to include State bank, banking association, and trust company,
except where national banks or Federal reserve banks are specifically
referred to.
The terms ``national bank'' and ``national banking association''
used in this chapter shall be held to be synonymous and interchangeable.
The term ``member bank'' shall be held to mean any national bank, State
bank, or bank or trust company which has become a member of one of the
Federal reserve banks. The term ``board'' shall be held to mean Board of
Governors of the Federal Reserve System; the term ``district'' shall be
held to mean Federal reserve district; the term ``reserve bank'' shall
be held to mean Federal reserve bank; the term ``the continental United
States'' means the States of the United States and the District of
Columbia.
The terms ``bonds and notes of the United States'', ``bonds and
notes of the Government of the United States'', and ``bonds or notes of
the United States'' used in this chapter shall be held to include
certificates of indebtedness and Treasury bills issued under section
3104 of title 31.
(Dec. 23, 1913, ch. 6, Sec. 1, 38 Stat. 251; Aug. 23, 1935, ch. 614,
title II, Sec. 203(a), 49 Stat. 704; Pub. L. 86-70, Sec. 8(a), June 25,
1959, 73 Stat. 142; Pub. L. 97-258, Sec. 2(c), Sept. 13, 1982, 96 Stat.
1058.)
References in Text
This chapter, referred to in text, was in the original ``this Act'',
meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, known as the
Federal Reserve Act. For complete classification of this Act to the
Code, see References in Text note set out under section 226 of this
title and Tables.
Amendments
1982--Pub. L. 97-258 inserted provisions defining ``bonds and notes
of the United States'', ``bonds and notes of the Government of the
United States'', and ``bonds or notes of the United States''. These
provisions are based on acts Sept. 24, 1917, ch. 56, Sec. 5(c), 40 Stat.
290; Apr. 4, 1918, ch. 44, Sec. 4, 40 Stat. 504; Mar. 3, 1919, ch. 100,
Sec. 3, 40 Stat. 1311; restated June 17, 1929, ch. 26, 46 Stat. 20
(former 31 U.S.C. 754(c)).
1959--Pub. L. 86-70 inserted definition of ``the continental United
States''.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve
Board to Board of Governors of the Federal Reserve System.
Section Referred to in Other Sections
This section is referred to in sections 221a, 3102, 3105 of this
title.
