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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 12 - Banks and Banking |
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Chapter VI - Farm Credit Administration |
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SubChapter B - Farm Credit System |
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Part 615 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations |
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Subpart B - Collateral |
§ 615.5045 - Definitions.
Latest version.
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§ 615.5045 Definitions.
(a) Cost means the actual amount paid for any asset.
(b) Market value means the price at which a willing seller would sell to a willing buyer, neither under any compulsion to buy or sell.
(c) Unpaid balance means total principal and accrued interest owed.
(d) Secured interbank loan means a loan from one Farm Credit System bank to another Farm Credit System bank, secured by assets of the borrowing Farm Credit System bank.