Identified Banking Product Law and Legal Definition

The term identified banking product means:

a. a deposit account, savings account, certificate of deposit, or other deposit instrument issued by a bank;

b. a banker's acceptance;

c. a letter of credit issued or loan made by a bank;

d. a debit account at a bank arising from a credit card or similar arrangement;

e. a participation in a loan which the bank or an affiliate of the bank funds, participates in, or owns that is sold to qualified investors or to other; or

f. any swap agreement, including credit and equity swaps. [15 USCS § 78c].