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Webster's New World Finance and Investment Dictionary » full faith and credit
full faith and credit
full faith and credit definition - finance
Refers to debt obligations that are guaranteed by the
U.S. government. Government debt or other obligations are “backed by the full
faith and credit of the U.S. government.” Because the U.S. government is very
strong and stable, its taxing authority can be used to ensure that the debt
obligations are honored in the event of a default by the issuer.
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