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 ?
The GDN reported in 2010 that Prerna Bahrain had set up a People's Forum Against Interest committee to raise awareness about illegal moneylenders, after a man vanished because he was so indebted to loan sharks.
High interest rates, ranging between 24 and 50 per cent, by moneylenders are also a factor that puts intense pressure on the farmers.
Patricia Carey, Director of Services for the SVP Dublin region, said that some parents are lured into the clutches of moneylenders as it seems the easiest way to access cash.
Jesus entered the Temple of God and overthrew the tables of the moneylenders, saying: "My house shall be called the house of prayer, but ye have made it a den of thieves.
According to the Irish central bank, the growth in the number of moneylenders in the nation has been 'slight.
Perhaps, not surprisingly, these are the very people who can fall prey to moneylenders who might initially seem to be the answer to a pressing financial problem but can, in reality, lead to even bigger problems.
50 billion euros have been allocated as part of the second bailout package of 173 billion euros for Greece to ensure the recovery of capital assets of the biggest banks and to do away with minor moneylenders.
An XPRESS investigation has revealed that financially constrained residents are quick to turn to private moneylenders who run a parallel banking system almost, only to be caught between the devil and the deep sea.
u092833 VVUNWANTED distraction Channel 4 will do a great job covering the great races, but it is just a shame that they will have to share coverage of Royal Ascot with adverts for ambulance-chasing lawyers and moneylenders.
He hoped other political forces did not go the opposite way and encourage the international moneylenders to impose tough measures.
HARD-PRESSED families should stay away from expensive payday loans and unlicensed moneylenders but trust in their local credit union.
We had hopes in his words that he would pay the moneylenders money, get their passports and send them home.