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LegalText 12 U.S.C. § 221 Definitions us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 221 12 U.S.C. § 221 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s221 data/legal/raw/us/code/title-12/usc12.xml 04ca08a5a6fde2fd0c57daaa1e5e727579c1371ec6ae9154f4c2a58c6ed89f20 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa f65b0ed8e764c5e5ee6e3569996066d7e1ac1c8bd5663a4e5fb60d34786388ee 2026-07-04 official
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12 U.S.C. § 221 - Definitions

Text

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. For purposes of this chapter, a State bank includes any bank which is operating under the Code of Law for the District of Columbia. 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, § 1 (pars.), 38 Stat. 251; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; Pub. L. 8670, § 8(a), June 25, 1959, 73 Stat. 142; Pub. L. 97258, § 2(c), Sept. 13, 1982, 96 Stat. 1058; Pub. L. 109351, title VII, § 725(a)(1), Oct. 13, 2006, 120 Stat. 2001; Pub. L. 109356, title I, § 123(a)(1), Oct. 16, 2006, 120 Stat. 2028.)

Notes

Editorial Notes

References in TextThis chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, 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.

Codification This section is comprised of the second to fourth pars. of section 1 of act Dec. 23, 1913. The first par. of section 1 is classified to section 226 of this title.

Amendments2006—Pub. L. 109351 and 109356 amended section identically, inserting “For purposes of this chapter, a State bank includes any bank which is operating under the Code of Law for the District of Columbia.” at end of first par. 1982—Pub. L. 97258 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, § 5(c), 40 Stat. 290; Apr. 4, 1918, ch. 44, § 4, 40 Stat. 504; Mar. 3, 1919, ch. 100, § 3, 40 Stat. 1311; restated June 17, 1929, ch. 26, 46 Stat. 20 (former 31 U.S.C. 754(c)). 1959—Pub. L. 8670 inserted definition of “the continental United States”.

Statutory Notes and Related Subsidiaries

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.