### Question
How is the term securities defined?


### Answer
The term **securities** is defined in *12 U.S.C. § 371c* as the following:

> stocks, bonds, debentures, notes, or other similar obligations

#### Citation:
  - *12 U.S.C. § 371c*
  - Heading: **CHAPTER 3-FEDERAL RESERVE SYSTEM > SUBCHAPTER X-POWERS AND DUTIES OF MEMBER BANKS**

