Credit Outstanding Law and Legal Definition

According to 12 USCS § 1817(9)(B)(ii) [Title 12. Banks and Banking; Chapter 16. Federal Deposit Insurance Corporation] the term credit outstanding includes--

"(I) any loan or extension of credit,

(II) the issuance of a guarantee, acceptance, or letter of credit, including an endorsement or standby letter of credit, and

(III) any other type of transaction that extends credit or financing to the person or group of persons."