### Question
What does qualified note mean?


### Answer
**Qualified note** has the following meaning in *12 U.S.C. § 1831e*:

> 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 Director of the Office of Thrift Supervision

#### Citation:
  - *12 U.S.C. § 1831e*
  - Heading: **CHAPTER 15-FEDERAL LOAN AGENCY**

