### Question
How is the term qualified note defined?


### Answer
The term **qualified note** is defined in *12 U.S.C. § 1831e* as the following:

> 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 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

