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| | FDIC: FIL-01-99: Inactive Financial Institution Letters: Federal Register Notice |
 | | Financial assets may include, but are not limited to, residential and commercial mortgage loans, commercial and industrial loans, consumer receivables, trade receivables, lease receivables, securities, and obligations satisfying the definition of ``permitted assets'' for purposes of Section 860L(c) of the Internal Revenue Code of 1986, as amended. |
 | | [[Page 71927]] B. ``Financial asset'' means cash or a contract or instrument that conveys to one entity a contractual right to receive cash or another financial instrument from another entity. |
 | | C. ``Loan participation'' means the transfer of an undivided interest in all or part of the principal amount of a loan from a seller, known as the ``lead'', to a buyer, known as the ``participant'', without recourse to the lead, pursuant to an agreement between the lead and the participant. |
| www.fdic.gov /news/news/inactivefinancial/1999/fil9901a.html (730 words) |
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