; (II) discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt; and (III) loan money on personal security. (iii) Payment systems A national banking association may participate in payment systems, defined as instruments, banking procedures, and interbank funds transfer systems that ensure the circulation of money. (iv) Coin and bullion A national banking association may buy, sell, and exchange coin and bullion. (v) Investments in securities (I) In general A national banking association may invest in investment securities, defined as marketable obligations evidencing indebtedness of any person, copartnership, association, or corporation in the form of bonds, notes, or debentures (commonly known as investment securities ), obligations of the Federal Government, or any State or subdivision thereof, and includes the definition of investment securities , as may be jointly prescribed by regulation by— (aa) the Comptroller of the Currency; (bb) the Federal Deposit Insurance Corporation; and (cc) the Board of Governors of the Federal Reserve System. (II) Limitations The business of dealing in securities and stock by a national banking association shall be limited to— (aa) purchasing and selling such securities and stock without recourse, solely upon the order, and for the account of, customers, and in no case for its own account, and the national banking association shall not underwrite any issue of securities or stock