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 classic literature ?
The Black Hawk money-lender who held mortgages on Peter's livestock was there, and he bought in the sale notes at about fifty cents on the dollar.
To talk of the soul of a money-lender in a beast that never had the courage of a jackal is child's talk.
I say,' began the money-lender, pursing his lips, 'that there is not one rule of right living which these te-rains do not cause as to break.
Moreover, he invariably employed the same "fence," who was ostensibly a money-lender in a small (but yet notorious) way, and in reality a rascal as remarkable as Raffles himself.
Next," proceeded the Sergeant, "and last, I propose to send one of my brother-officers to make an arrangement with that money-lender in London, whom I mentioned just now as formerly acquainted with Rosanna Spearman-- and whose name and address, your ladyship may rely on it, have been communicated by Rosanna to Miss Verinder.
The father of this young gentleman had been a money-lender, who had transacted professional business with the mother of this young gentleman, when he, the latter, was waiting in the vast dark ante- chambers of the present world to be born.
Hooroar for the principle, as the money-lender said ven he vouldn't renew the bill,' observed Mr.
There was a rather heavy bill for a chased silver Louis-Quinze toilet-set that he had not yet had the courage to send on to his guardians, who were extremely old-fashioned people and did not realize that we live in an age when unnecessary things are our only necessities; and there were several very courteously worded communications from Jermyn Street money-lenders offering to advance any sum of money at a moment's notice and at the most reasonable rates of interest.
Had I gone forth on an innocent errand, I had met a dozen stout priests or a score of pursy money-lenders.
One hair of him's worth more than a world-full of skunks of money-lenders.
My credit with the money-lenders was at an end; my friends had all turned their backs on me.