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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 ?
Again, a stem cell bank could find itself, in its gatekeeping role, in the position of having to determine whether the law in a particular jurisdiction was complied with when consent was obtained from or compensation was given to a donor, for example.
He said once the stem cell bank is established, those people who pull their teeth can save and use their cells for producing and planting new teeth.
State funding for the bank came as part of a larger state effort to expand life science research across Massachusetts using targeted state grants, tax benefits and by supporting facilities such as the stem cell bank.
The project is spear-headed by Dr Michael Pepper, extraordinary professor in the department of immunology at the University of Pretoria and a director of Netcell, one of the country's three private stem cell banks.
A study paving the way to clinical stem cell banks found that a small subset of potential "super-donors" exists in the population.
What is particularly salient in the article is the authors' concern to establish the kind of stem cell banks that might ameliorate the problem of "unequal biological access.
The stem cell banks provide researchers with human embryonic stem cell lines for fundamental biological investigation and the development of disease therapies.
Plans for the stem cell bank call for it to house and distribute stem cell lines now maintained by all the leading embryonic stem cell institutions in the state, including lines maintained by Harvard University, Children's Hospital in Boston and the Massachusetts Institute of Technology, as well as lines held by researchers at the University of Massachusetts.
Ramakant Kini had approached CCI alleging that the hospital had abused its dominant position in the area of stem cell banks and did not allow the stem cell of the child to be collected by any other service provider except M/s Cryobank with whom it had an exclusive agreement.
AssureImmune LLC (AI), the premier family stem cell bank in the United States, today announced their merger with Banco de Cordon Umbilical (BCU), the largest cord blood bank in Latin America.
The bank will ensure that researchers can explore the enormous potential of this exciting science for the future benefit of patients," said Professor Colin Blakemore, chief executive of the UK's Medical Research Council, one of the 2 government agencies funding the stem cell bank.
The Medical Research Council, which is overseeing plans for the National Stem Cell Bank, strongly denied today that the cell store would lead to more human embryos being destroyed for research.