### Question
How does the law define qualified note?


### Answer
Under *12 U.S.C. § 1831e*, **qualified note** is defined as:

> any note that—


(A) is at all times fully secured by the corporate debt security not of investment grade transferred in exchange for the note, or by other collateral of at least equivalent value that is acceptable to the Comptroller of the Currency or the Corporation, as appropriate

#### Citation:
  - *12 U.S.C. § 1831e*
  - Heading: **CHAPTER 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

