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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."

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
The story of his extraordinary life and exploits has now been told in nay new book, Adventures in Egypt and Nubia: The Travels of William John Bankes (1786-1855), published by British Museum Press, 2002 (25 [pounds sterling]).
Joel Asorocelebrated his birthday with a goal that put the Black Cats in the driving seat, and if bungling Bankes had not missed Tim Ream's blatant foul on Ovie Ejaria just before half-time, Sunderland would have had a penalty and a chance to go in 2-0 up at the interval.
The carvings are now on display in Kingston Lacy's Spanish room - home to the Bankes collection of Spanish art - and are available for sale to fund conservation work at Kingston Lacy.
When the already-booked Bishop went in hard on Gittings on the halfway line, referee Tony Bankes sent him off, to add to the red he was shown against Harriers at Aggborough early in the season.
William John Bankes was the son and heir of Henry Bankes of Kingston Lacy, Dorset, who in a fifty-year parliamentary career became one of the most respected backbenchers in the Commons.
But Lampard came out fighting against referee Peter Bankes and his assistants - as he faces up to the prospect of a onematch touchline ban.
But Warburton was upset by the cynical time-wasting that had the Forest crowd booing and said ref Peter Bankes should have taken action sooner.
Police found the notes in a swoop on an address in Bankes Road, Small Heath, on January 15 after a tip-off that Hassan Yousaf and Zain Islam were selling crack cocaine and heroin.
Broughton fired Alfreton in front from the penalty spot right on the half-hour mark after Harriers defender Luke Jones was judged to have shoved former Solihull Moors man Theo Streete in the back by fussy referee Peter Bankes.
Gloucester-based theatre company Fairgame will be giving a family show at the Edith Bankes Memorial Hal
On what became a graveyard for punters, Viscount Bankes landed odds of 33-1 when taking the Onny Hunters Chase for Rosemary Gasson.