Section 52
SEC. 52. A new section is hereby added after Section one hundred of the same Act to read as follows: "SEC. 100-A Definition of deposit substitutes. — The term 'deposit substitutes' is defined as an alternative form of obtaining funds from the public, other than deposits, through the issuance endorsement, or acceptance of debt instruments for the borrower's own account, for the purpose of relending or purchasing of receivables and other obligations. These instruments may include, but need not be limited to, bankers acceptances, promissory notes, participations, certificates of assignment and similar instruments with recourse, trust certificates and repurchase agreements. The Monetary Board shall determine what specific instruments shall be considered as deposit substitutes for the purpose of Sections 100 and 109: Provided, however, That deposit substitutes of commercial, industrial and other non-financial companies issued for the limited purpose of financing their own needs or the needs of their agents or dealers shall not be covered by the provisions of Sections 100 and 109."