full faith and credit - Investment & Finance Definition
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.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana. Used by arrangement with John Wiley & Sons, Inc.
full faith and credit - Legal Definition