# 12 U.S.C. § 221: Definitions

> Federal · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/usc_t12_s221

## Section

- **Citation:** 12 U.S.C. § 221
- **Heading:** Definitions
- **Jurisdiction:** Federal
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** July 23, 2026
- **Source:** Publisher's official text
- **Location:** Title 12—BANKS AND BANKING > CHAPTER 3—FEDERAL RESERVE SYSTEM > SUBCHAPTER I—DEFINITIONS, ORGANIZATION, AND GENERAL PROVISIONS AFFECTING SYSTEM

## 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. 86–70, § 8(a) , June 25, 1959 , 73 Stat. 142 ; Pub. L. 97–258, § 2(c) , Sept. 13, 1982 , 96 Stat. 1058 ; Pub. L. 109–351, title VII, § 725(a)(1) , Oct. 13, 2006 , 120 Stat. 2001 ; Pub. L. 109–356, title I, § 123(a)(1) , Oct. 16, 2006 , 120 Stat. 2028 .)

## Nearby sections

- [12 U.S.C. § 221 Definitions](https://www.frixlaw.com/law-library/statutes/usc_t12_s221.md)
- [12 U.S.C. § 221a Additional definitions](https://www.frixlaw.com/law-library/statutes/usc_t12_s221a.md)
- [12 U.S.C. § 222 Federal reserve districts; membership of national banks](https://www.frixlaw.com/law-library/statutes/usc_t12_s222.md)
- [12 U.S.C. § 223 Number of Federal reserve cities in district](https://www.frixlaw.com/law-library/statutes/usc_t12_s223.md)
- [12 U.S.C. § 224 Status of reserve cities under former statutes](https://www.frixlaw.com/law-library/statutes/usc_t12_s224.md)
- [12 U.S.C. § 225 Federal reserve banks; title](https://www.frixlaw.com/law-library/statutes/usc_t12_s225.md)
- [12 U.S.C. § 225a Maintenance of long run growth of monetary and credit aggregates](https://www.frixlaw.com/law-library/statutes/usc_t12_s225a.md)
- [12 U.S.C. § 225b Appearances before and reports to the Congress](https://www.frixlaw.com/law-library/statutes/usc_t12_s225b.md)
- [12 U.S.C. § 226 “Federal Reserve Act”](https://www.frixlaw.com/law-library/statutes/usc_t12_s226.md)
- [12 U.S.C. § 227 “Banking Act of 1933”](https://www.frixlaw.com/law-library/statutes/usc_t12_s227.md)
- [12 U.S.C. § 228 “Banking Act of 1935”](https://www.frixlaw.com/law-library/statutes/usc_t12_s228.md)
- [12 U.S.C. § 241 Creation; membership; compensation and expenses](https://www.frixlaw.com/law-library/statutes/usc_t12_s241.md)
- [12 U.S.C. § 242 Ineligibility to hold office in member banks; qualifications and terms of office of members; chairman and vice chairman; oath of office](https://www.frixlaw.com/law-library/statutes/usc_t12_s242.md)
- [12 U.S.C. § 243 Assessments upon Federal reserve banks to pay expenses](https://www.frixlaw.com/law-library/statutes/usc_t12_s243.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/usc_t12_s221. Check the current official text before relying on it. Not legal advice.