Senior Unsecured Liability [Banks & Banking] Law and Legal Definition

According to 12 CFR 327.8 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter B -- Regulations and Statements of General Policy; Part 327 – Assessments; Subpart A -- in General], senior unsecured liability means “the unsecured portion of other borrowed money as defined in the quarterly report of condition for the reporting period, but shall not include any senior unsecured debt that the FDIC (Federal Deposit Insurance Corporation) has guaranteed under the Temporary Liquidity Guarantee Program.”