Bank

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Related to International banking: HSBC, International Banking Act of 1978

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 bank said that it has shuffled three senior executives as part of a push to broaden international banking operations.
Anthony Oriti, senior vice president and managing director for Umpqua Bank's International Banking Division, said, 'International trade is increasingly important for small- to mid-size businesses, yet it also presents a number of obstacles in respect to securing and managing finances for these businesses.
The bank said that it has appointed John Iossifidis as its new executive vice president and head of international banking. He would be responsible for developing Mashreq's business across the Middle East and North Africa.
Three critically important areas of focus in international banking were emphasised, representing new trends, opportunities, and challenges for market participants, policymakers, and regulators.
She brings strong relationships with the international banking community to the firm and expects to build on these relationships to help broaden and deepen the practice scope for Polsinelli.
The estimate for the female managers is around 15%, which was reflected in the proportion of the female banking executives who attended international banking conference in December, 2009 and participated in the survey (16.84%).
In this role, Karto will establish the structure of FNB's full-service International Banking Unit and oversee foreign exchange, trade finance, global treasury, correspondent banking and continued expansion of the bank's international business.
The asset and wealth management division contributes more than 9% of the bank's total assets, followed by consumer banking (4%), international banking (32%) and corporate banking (72%).
Howard has over 25 years of international banking experience and has held senior roles with global bank HSBC as well as regional banks.
United Arab Bank, or UAB, announced on Saturday that it has appointed Howard Kitson as executive vice-president for Wholesale and International Banking.
Sharjah-based United Arab Bank (UAB), a leading bank in the emirates, has appointed Howard Kitson as the new executive vice president (Wholesale and International Banking).

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