bank

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Related to Money center banks: Commercial banks

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 ?
Any surprise restrictions on dividends and share buybacks on the Fed CCAR 'stress tests' is also a risk for money center banks.
The one exception was the New York District, where the slight recovery in profitability mainly reflected reduced provisioning against foreign loans by the money center banks.
Therefore, each regional would lose less than the money center banks if everyone was forced to write off bad loans.
With the addition of Novartis, Composite Software is now the data virtualization solution of choice for six of the top ten pharmaceutical providers, three of Europe's top five money center banks, Europe's number three cellular phone provider, and Europe's top two integrated energy companies.
In response to the consolidation of many money center banks and insurance companies' ability to receive thrift charters, there have been an inordinate number of start-up banks chartered which provides an excellent growth opportunity for BISYS.
In the aggregate, the primary capital ratio of banks decreased, but most of the decline was at money center banks, which dipped into capital to pay dividends.
Smaller companies will not get attention from money center banks, she said, and if they go to regional banks, they will hear that the banks have gotten out of the export financing business.
Loan Origination Tops New York's Money Center Banks
He spent 12 years managing the lending departments at two New York City money center banks, and three years as managing director of a consulting firm retained by both the Resolution Trust Corporation and the Whitehall Fund in the disposition of distressed real estate.
With 52 FSCs in central and southern New Jersey and Delaware, and thirteen more about to open, Sun has the financial strength and management expertise to offer products and services the biggest money center banks can offer -- while zealously preserving its local community focus.
A slowing in the buildup of loan loss provisions, along with improvements in interest rate margins, contributed to these gains, with the money center banks showing the sharpest turnaround.