Long-Term Issuer Credit Rating Law and Legal Definition

According to 12 CFR 208.77 [Title 12 -- Banks and Banking; Chapter II -- Federal Reserve System; Subchapter A -- Board of Governors of the Federal Reserve System; Part 208 -- Membership of State Banking Institutions in the Federal Reserve System (Regulation H); Subpart G -- Financial Subsidiaries of State Member Banks], long-term issuer credit rating means “a written opinion issued by a nationally recognized statistical rating organization of the bank's overall capacity and willingness to pay on a timely basis its unsecured, dollar-denominated financial obligations maturing in not less than one year.”