bank

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Related to International banking: HSBC, International Banking Act of 1978

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 ?
First National Bank, a subsidiary of FNB Corporation (NASDAQ: FNB), has announced strategic enhancements to its comprehensive suite of international banking services.
The asset and wealth management division contributes more than 9% of the bank's total assets, followed by consumer banking (4%), international banking (32%) and corporate banking (72%).
Added to this, the report revealed lending to related parties without any collateral contravening Banking laws, company policies, and compliance standards in accordance with international banking regulations.
In the international banking arena, Bradeso has operations in Argentina, The Bahamas, Cayman Islands, Japan, Luxembourg, and the United States (Bradesco Securities, Inc.
In keeping with the regulatory structure prescribed in the Bank Holding Act of 1956 and in the International Banking Act of 1978, the Reserve Bank has maintained regular contact with the State of Florida, and with the Comptroller of the Currency in its routine supervision of BCCI and NBG's parent holding company, relying, as directed by statute, on the reports of these other supervisory agencies whenever possible.
Bridge Capital Holdings (NASDAQ: BBNK), the parent of Bridge Bank, a full-service business bank headquartered in Silicon Valley, has said that Ken Rosenberg has joined its International Banking Division as senior vice president and group manager.
and Latin America -- has expressed concern at the $1 billion decline in the economic impact of international banking since their last industry survey in 2001.
This standard of comprehensive and consolidated supervision was not a generally accepted principle of international bank supervision at the time the International Banking Act was adopted, as it is today, and became so only after experience demonstrated the problems associated with fragmented review of an international bank's operations.
In this regard, a Senior Director of the institution, said: "This certification shows the professionalism of each of our executives as well as the company's the proactive action in striving to continuously improve our compliance with international banking standards.
HSBC Holdings (LSE: HSBA) has announced that it has named a head of international banking for Malta.
Peterman has been with Columbia Bank for 7 years and has over 18 years of international banking experience.
She will also be responsible for assisting with Umpqua's international banking business development efforts throughout the bank's territories.

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