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 ?
It was William John (WJ) Bankes who bought the Rubens masterpiece in around 1845.
Ramsbo mad phrh Mrs Bankes had made her own photographic record of the hall when it was still a family home, and she responded to an appeal by Mr Ramsbottom for people to come forward with photos, artefacts and memories of the place.
Yet to take charge of one of Newcastle's games, the Liverpoolbased Bankes has officiated nine games this season handing out 34 yellow cards and five red - including two in the Championship clash between Brentford and Sheffield Wednesday.
But, once the ball had run safe, Mr Bankes summoned Schumacher for a yellow card, demonstrating that he not only fully understands the spirit of advantage but also, far more unusually, grasps the fact that a tackle does not necessarily have to involve physical contact to constitute a foul.
US Trust, Bank of America Private Wealth Management, a unit of Bank of America Corporation (NYSE: BAC) has announced the appointment of Rowland Bankes as head of Trading.
Among these vital tools are two specifically devoted to aiding those involved with making policy decisions in complex situations or in an environment of uncertainty: "Decision Modeling" by The Futures Group International and "Robust Decisionmaking" by Robert Lempert, Steven Popper, and Steve Bankes of the RAND Corporation.
Our efforts on this front won World BankEs praise last year.
Benjamin Bankes, an adult-sized pig who evokes memories of the piggy bank, is the icon of the original Feed the Pig campaign.
The abandonment by the Bankes family of Corfe Castle, defended by the indomitable royalist Lady Mary Bankes, and its replacement by the handsome Kingston Lacy symbolized the new world the gentry, having got their civil war over, were going to make for themselves.
As an example of this, I want to suggest how understanding the historical referents of a minor character such as William Bankes in To the Lighthouse deepens our understanding of the novel.
We want to be available to customers when they want services from us," stated Marketing Manager Scott Bankes.
The PSAs transform the piggy bank, the traditional symbol of childhood savings, into Benjamin Bankes, an icon who inspires 25-34-year-aids to save and build long-term financial security.