bank

(redirected from Credit institutions)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.
Related to Credit institutions: credit bureau, Credit report

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 ?
Other grounds for the refusal cited in a statement of the Bulgarian National Bank (BNB) include an article from the Credit Institutions Act relating to assessment of the capability of the group, of which the bank will become a part, to exercise efficient supervision over the bankas operations.
The bill brings national line in line with the EU directive relating to the operations of credit institutions and the supervision of credit institutions and investment companies.
Moscow-based Trade Construction Bank, Buzulukbank, located in the Orenburg Region in the south Urals and the non-bank credit institution, First Land Settlement Centre, based in Kursk, have lost their licenses.
The literature has expressed the view that the special importance of these activities and, in particular, that of attracting deposits, is one of the reasons that generated the need for regulation and supervision of credit institutions by the state (Diaconu, 2011: 18).
Reasons To Buy -- Gain insights into different responsible lending practices adopted by banks and credit institutions across the world.
The CBC calls on credit institutions to apply a "fair and viable pricing policy regarding loan restructuring which aims at minimizing cost, levies and loyalties, other expenses and interest rates for borrowers subject to loan restructuring.
Also, the Cibil report that credit institutions access is tailored for them.
Hejira attributed the improvement of this percentage to various factors, notably credit facilities, competition between real estate credit institutions, and decline in interest rates.
Under the amendments, banks, bureaux de change and credit institutions would "be obliged to ensure that Euro notes and coins which they have received .
Many banks and credit institutions also rely on reporting agencies such as ChexSystems, which provides a consumer's bank account and check-writing history.
Money laundering is a criminal offense in Mexico, and credit institutions are required to establish internal policies, procedures, and systems for the detection and prevention of money laundering throughout their worldwide operations.