Expression for the commitment by a state, local, or national government to pledge its taxing authority, plus nontax revenues, in payment of principal and interest on outstanding debt securities. For example, a General Obligation Bond is backed by the issuing municipality's Ad Valorem taxing power. U.S. Treasury obligations and some federal agency securities also are backed by this pledge.
Full Faith and Credit
| Banking Dictionary: Full Faith and Credit |
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 | Combination Bond (finance term) |
| Credit Money (in banking) |
| Governments (in banking) |
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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Mentioned in
- Combination Bond (finance term)
- Credit Money (in banking)
- Governments (in banking)
- General Obligation Bond (in accounting)
- Instrumentality (in banking)
- General Obligation Bond or G-O Bond (business term)
- Government Agency Securities (business term)
- Treasuries (business term)
- Government Securities (finance term)
- Special Assessment Bond (finance term)
- Full Faith and Credit Clause (legal term)
- Full Faith and Credit
- Sovereign Risk (in banking)
- Federal Agencies (in banking)
