bank

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bank

n. 1) an officially chartered institution empowered to receive deposits, make loans, and provide checking and savings account services, all at a profit. In the United States banks must be organized under strict requirements by either the Federal or a state government. Banks receive funds for loans from the Federal Reserve System provided they meet safe standards of operation and have sufficient financial reserves. Bank accounts are insured up to $100,000 per account by the Federal Deposit Insurance Corporation. Most banks are so-called "commercial" banks with broad powers. In the east and midwest there are some "savings" banks which are basically mutual banks owned by the depositors, concentrate on savings accounts, and place their funds in such safe investments as government bonds. Savings and Loan Associations have been allowed to perform some banking services under so-called deregulation in 1981, but are not full-service commercial banks and lack strict regulation. Mortgage loan brokers, and thrift institutions (often industrial loan companies) are not banks and do not have insurance and governmental control. Severe losses to customers of these institutions have occurred in times of economic contraction or due to insider profiteering or outright fraud. Credit Unions are not banks, but are fairly safe since they are operated by the members of the industry, union or profession of the depositors and borrowers. 2) a group of judges sitting together as an appeals court, referred to as "in bank" or "en banc."

bank

noun bursary, cash box, coffer, depository, monntary reservoir, money box, pecuniary resource, promptuary, public treasury, repository, reserve, safe, safe-deposit vault, storehouse, strongroom, till, vault
Associated concepts: bank account, bank bill, bank certificate, bank check, bank collections, bank deposit, bank draft, bank examiner, bank money order, bank note, bank of deposit, bank of issue, bank robber, bank stock, bank transaction, bank withdrawal, bankbook, banker's acceptance, banker's lien, banking hours, banking powers, banking privileges, commercial bank, savings bank
See also: border, coffer, deposit, edge, fund, garner, hoard, keep, margin, pool, repository, reserve, shelter, store, treasury

BANK, com. law. 1. A place for the deposit of money. 2. An institution, generally incorporated, authorized to receive deposits of money, to lend money, and to issue promissory notes, usually known by the name of bank notes. 3. Banks are said to be of three kinds, viz : of deposit, of discount, and of circulation; they generally perform all these operations. Vide Metc. & Perk. Dig. Banks and Banking.

References in periodicals archive ?
She contacted Faulkner and asked for the return of the bank book -- but he gave her a string of excuses to avoid having to return the book.
The city's magistrates' court heard how the bank book had been taken from a house in Gosforth days earlier and when the owner realised money had been taken out of his account, he called police.
The affidavit goes on to say that Griffin gave Dinkins his bank book in return for a fifteen dollar cash advance.
The Bank Book," heralded by the prestigious Library Journal as "One of the best books for wise and inquiring consumers," in addition to being available in hardcover, is available in softcover for $10.
Following instructions from an SSI pamphlet, they put the following information together to present to the Social Security people: Bill's Social Security number; his birth certificate (original or certified copy); information about where Bill lives (he pays no rent); payroll slips, copies of tax returns, bank books, and other information about income and resources (his only work outside the home is assisting his neighbor in delivering papers, where he has managed to accumulate a bank book balance of $870.
There was a savings bank in the 1930s down Cloth Hall Street which was a 'penny bank' for school children where they deposited their savings in a pass book named Upper Agbrigg bank book.
The Dubai Economic Council (DEC) in collaboration with the World Bank (WB) will jointly launch the World Bank book Natural Resource Abundance, Growth and Diversification in the Middle East and North Africa and the Dubai Economic Council's report on Foreign Trade in Dubai: Challenges and Policies in addition to the Deauville Partnership report on Trade and Foreign Direct Investment in Dubai on 28 November.
The attacker fled after taking cash, a rent book and bank book.
They stole my handbag with my purse and bus pass, my granddaughter's bank book, my credit card and lots of personal papers and my jewellery box.
She hung on to the original Aberdeen Savings Bank book and remained loyal when it became part of the TSB.
If more than pounds 3 is withdrawn the bank book will be retained for examination at Savings Bank headquarters, and will normally be returned within four days
The bag is black and contained a few pounds 20 and pounds 10 notes, a bus pass, Nationwide bank book, Iceland delivery card and some birthday cards.