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                            32.301 Definitions.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart32.032.132.232.332.432.532.632.732.832.932.1032.11
Section32.30032.30132.30232.30332.30432.30532.306
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32.301 Definitions.32.301 Definitions.       As used in this subpart-          *Borrower* means a contractor, subcontractor (at any tier), or other supplier who receives a guaranteed loan.          *Federal Reserve Board* means the Board of Governors of the Federal Reserve System.          *Guaranteed loan* or "V loan" means a loan, revolving credit fund, or other financial arrangement made pursuant to Regulation V of the Federal Reserve Board, under which the guaranteeing agency is obligated, on demand of the lender, to purchase a stated percentage of the loan and to share any losses in the amount of the guaranteed percentage.          *Guaranteeing agency* means any agency that the President has authorized to guarantee loans, through Federal Reserve Banks, for expediting national defense production.    **Parent topic:**  Subpart 32.3 - Loan Guarantees for Defense Production
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