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Bank

An institution that provides a great variety of financial services. At their most basic, banks hold money on behalf of customers, which is payable to the customer on demand, either by appearing at the bank for a withdrawal or by writing a check to a third party. Banks use the money they hold to finance loans, which they make to businesses and individuals to pay for operations, mortgages, education expenses, and any number of other things. Many banks also perform other services for a fee; for instance they offer certified checks to customers guaranteeing payment to third parties. In some countries they may provide investment and insurance services. With the exception of Islamic banks, they pay interest on deposits and receive interest on their loans. Banks are regulated by the laws and central banks of their home countries; normally they must receive a charter to engage in business. Banks are usually organized as corporations.

bank

a deposit-taking institution which is licensed by the monetary authorities of a country (the BANK OF ENGLAND in the UK) to act as a repository for money deposited by persons, companies and institutions, and which undertakes to repay such deposits either immediately on demand or subject to due notice being given. Banks perform various services for their customers (money transmission, investment advice, etc.) and lend out money deposited with them in the form of loans and overdrafts or use their funds to purchase financial securities, in order to operate at a profit. There are many types of banks, including COMMERCIAL BANKS, MERCHANT BANKS, SAVINGS BANKS and INVESTMENT BANKS. See BANKING SYSTEM, BANK OF ENGLAND, CENTRAL BANK.

bank

a deposit-taking institution that is licensed by the monetary authorities of a country (the BANK OF ENGLAND in the UK) to act as a repository for money deposited by persons, companies and institutions, and which undertakes to repay such deposits either immediately on demand (CURRENT ACCOUNT 2) or subject to due notice being given (DEPOSIT ACCOUNTS). Banks perform various services for their customers (money transmission, investment advice, etc.) and lend out money deposited with them in the form of loans and overdrafts or use their funds to purchase financial securities in order to operate at a profit. There are many types of banks, including COMMERCIAL BANKS, MERCHANT BANKS, SAVINGS BANKS and INVESTMENT BANKS. In recent years many BUILDING SOCIETIES have also established a limited range of banking facilities. See BANKING SYSTEM, CENTRAL BANK, FINANCIAL SYSTEM.

bank

An institution empowered by law to receive deposits, cash checks or drafts, discount commercial paper,make loans,and issue promissory notes payable to the bearer,known as bank notes. American commercial banks fall into two categories:(1) federally chartered and (2) state chartered. Federally chartered banks come under the regulatory and auditing supervision of the United States Comptroller of the Currency.State-chartered banks come under the control of the appropriate state banking authority.Typically the FDIC will audit state-chartered banks and the comptroller's office will audit federally chartered banks.

References in periodicals archive ?
During 2008, the Bank along with other Gulf and Arab financial institutions, as Gulf Finance House, has incepted First Energy BankE in Bahrain with a capital of $1 billion as well as Cemena HoldingE for cement industries in Bahrain with a capital of $500 million.
Bankes states that the pictures were described in a catalogue (the nature of which is sadly not specified, although it was shown to him by an as yet unidentified 'Signor Benfatto') and it is this text that he reproduces in the 1849 memorandum.
Bankes became a statistic in an alarming social trend: death and mayhem triggered by the anger of drivers on America's streets and highways.
Moisture problems, like delamination of plywood subflooring, used to be a concern, but I feel like the use of AdvanTech flooring has eliminated those hassles," said Jim Bankes, president of Jim Bankes Inc.
Meanwhile Peter Bankes, of Merseyside, will referee Town's home game against MK Dons next Tuesday, October 20.
BURTON boss Jimmy Floyd Hasselbaink refused to criticise referee Peter Bankes after Romain Vincelot's disputed winner sent Coventry second.
Referee Peter Bankes ignored numerous Walsall protests to award the penalty and Forster-Caskey dusted himself off to fire into the bottom left-hand corner.
MAN IN BLACK MAN IN BLACK PETER BANKES (Merseyside) New to the League list this season, it's the first time he's been in charge of a Sky Blues game but he handled Fleetwood four times during their Conference years.
Goods vehicle Operator's Licence Javed Hussain trading as Mr Recovery Salvage of 17 Bankes Road, Small Heath, Birmingham B10 9PP is applying for a licence to use Fort Self Storage, Fort Parkway, ay, ay Erdington, Birmingham B24 9FD as an operating centre for 3 goods vehicles and 0 trailers and to use 2 Whitehall Road, Small Heath, Birmingham B9 5EJ as an operating centre for 1 goods vehicle and 0 trailers.
Liverpudlian whistler Peter Bankes was officiating his first Championship game in his first season on the referees' list.
Northop Cricket Club was formed in 1864 by the Bankes family, who still own the picturesque Flint Road ground.
However, Cleverley's trip on substitute Adam Johnson - the midfielder appeared as horrified as his manager later revealed he was at referee Andre Marriner's decision, which was taken on the advice of assistant Peter Bankes - gave Fabio Borini the chance to smash home a 65thminute penalty.