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 ?
By the end of the 1970s, privated money that was operating in a deregulated international environment through money center banks began to take advantage of the enhanced sophistication of computer and information technologies to globalize the world's financial system.
The net interest margin of the banking industry fell in 1990, with sharp drops at money center banks and small changes at other banks (chart 7, top panel).
As in 1988, loans to foreign governments declined more slowly at the money center banks.
Most money center banks, with a longer history of involvement in these countries and multinational corporate clientele requiring ongoing banking services, have a more optimistic view of this business.
Liquidity and financing issues are currently front-page issues for money center banks, while an equally interesting and important story is playing out in middle-market companies," said Ronald H.
So long as no major money center banks are lending, there will be no supply.
Partly to improve capital ratios, money center banks reduced their assets by stepping up loan sales and striving to pare back holdings of narrow-margin assets.
ABA is the nation's largest bank trade association, representing community, regional and money center banks and bank holding companies, savings associations, trust companies and savings banks.
We represent to a large degree the valuation needs of large institutions, money center banks, and Wall Street groups," he said.
2) Exposure to Mexico by the nine money center banks totaled $14 billion and represented almost 50 percent of their combined gross capital funds.
Mayo joins Deutsche Bank from Prudential Equity Group where he spent the past six years covering money center banks, large regional banks, brokers and processor banks.
The transaction was significant, Flexnet said, not only because a construction loan of this size has not been seen for some time, but because it involved four major money center banks from beginning to end.