Business and Personal Finance Dictionary

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• TYPE II SECURITIES
  
  A category of investment securities defined by the Office of the Comptroller of the Currency (OCC) (12 CFR 1). A Type II security is any one of the following: 1. Obligations issued by a State or a political subdivision or an agency of a state for housing, university, or dormitory purposes. 2. Obligations of international and multilateral development banks and organizations listed in 12 USC 24 (Seventh). 3. Other obligations listed in 12 USC 24 (Seventh) as permissible for a bank to deal in, underwrite, purchase, and sell for the bank’s own account, subject to a limitation per obligor of 10 percent of the bank’s capital and surplus. 4. Other securities that the OCC determines to be eligible as Type II securities under 12 USC 24 (Seventh).
  
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