bank

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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 ?
The National Bank of Romania's competence to authorize, regulate and prudential surveillance the credit institutions, Romanian legal entities, represents one of the responsibility's components regarding the assurance of financial stability.
With respect to affiliate transactions, the Bank of Greece requires credit institutions, such as Piraeus, to report the value of each credit exposure to a subsidiary or affiliate that exceeds 10 percent of the credit institution's regulatory capital.
The issue publishes a list of credit institutions entitled to open accounts and secured (covered) letters of credit, to enter into bank account and bank deposit agreements with business entities of strategic significance for the defence and industrial complex and for the security of the Russian Federation, and with companies directly or indirectly controlled by them, on grounds stipulated by Parts 1 and 2 of Article 2 of Federal Law No.
As a result, the Finance Ministry proposed amending the regulations so credit institutions would report to the Office for Prevention Laundering of Proceeds Derived from Criminal Activity about suspicious or unusual transactions if the media write about new money laundering cases.
New management teams are in the process of being appointed, both at central and at credit institutions level.
It also stresses that all credit institutions should communicate in time with borrowers who are experiencing financial difficulties and consult in a positive spirit and a constructive way and to make continuous dialogue with borrowers in order to reach a mutually acceptable restructuring solution.
In parallel with the BGN 388 M decrease in resources from credit institutions (mainly nonresident ones), other sources of financing continued to increase.
The credit institution should be in a satisfactory financial condition and bear at least a B3 rating by Moody's and B- by Standard and Poor's and Fitch.
The latter ceiling is not applicable to credit institutions that are not fundamentally healthy, but they must present a restructuring plan.
Investment firms that engage in these activities include firms that are also credit institutions that would be governed by the Second Banking Directive.
TB&W's three main divisions are CommunityBanksOnline for community banks, TBDirect for independent mortgage brokers and independent brokerage firms, and CreditUnionsOnline for government, association and private credit unions and related credit institutions.
The Credit Institutions section publishes the following Bank of Russia orders: