bank


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Related to bank: Citibank

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 ?
Go, pick up my things, like a cherub, as you are," said Jo, dropping down under a maple tree, which was carpeting the bank with crimson leaves.
On the grassy bank Wing Biddlebaum had tried again to drive his point home.
On that day, two men were lingering on the banks of a small but rapid stream, within an hour's journey of the encampment of Webb, like those who awaited the appearance of an absent person, or the approach of some expected event.
The chief clerk and two bank messengers were waiting by the automobile with written calls for help from the office.
And we view Kentucke situated on the fertile banks of the great Ohio, rising from obscurity to shine with splendor, equal to any other of the stars of the American hemisphere.
The half a dozen cabins scattered along the banks of the North Fork, as if by some overflow of that capricious river, had become augmented during a week of fierce excitement by twenty or thirty others, that were huddled together on the narrow gorge of Devil's Spur, or cast up on its steep sides.
She had taken the advice of a friend and invested her savings in a bank on Ashland Avenue.
I went along up the bank with one eye out for pap and t'other one out for what the rise might fetch along.
While he trotted back with the message he was to deliver to the night watchman in his box at the door of Tellson's Bank, by Temple Bar, who was to deliver it to greater authorities within, the shadows of the night took such shapes to him as arose out of the message, and took such shapes to the mare as arose out of HER private topics of uneasiness.
The witch counselled her to go to the pond the first time there was a full moon, and to comb her black hair with a golden comb, and then to place the comb on the bank.
Robin did not fancy getting his feet wet, or his fine suit of mail rusted, so he paused on the hither bank to rest and take his bearings.
IT is no part of mine to narrate the adventures of John Nicholson, which were many, but simply his more momentous misadventures, which were more than he desired, and, by human standards, more than he deserved; how he reached California, how he was rooked, and robbed, and beaten, and starved; how he was at last taken up by charitable folk, restored to some degree of self-complacency, and installed as a clerk in a bank in San Francisco, it would take too long to tell; nor in these episodes were there any marks of the peculiar Nicholsonic destiny, for they were just such matters as befell some thousands of other young adventurers in the same days and places.