bank

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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 ?
He travelled extensively, acquiring a lot of art work, and he was passionate about getting them back to his homes in the UK, which also included the former Bankes family seat of Kingston Lacy, in Dorset, which is now in the ownership of the National Trust.
Under its provenance and list of former owners was the name W J Bankes.
Since he began officiating secondtier matches in 2015, Bankes has become known as a strict referee who is not afraid to show a card where necessary.
Steven Schumacher's tackle, which was punished by referee Peter Bankes.
Based in Boston, Bankes will report to US Trust chief investment officer Chris Hyzy, and will be responsible for overseeing all aspects of Equity, Fixed Income and Custody Trading at US Trust.
Students will be joined by the Bankes Piglets, 12 dynamic and diverse "savers and spenders," who help them analyze financial habits and create responsible financial plans.
1) The real William Bankes of Kingston Hall (now Kingston Lacey) and Corfe Castle--who was the MP for Cambridge University, a lifelong friend of Lord Byron, and was known for his interest in painting and the Old Masters, his skills as a draughtsman, and his appropriation of Egyptian and Nubian antiquities--figures vividly in at least three sources Woolf refers to in her writing: Dr.
Through a variety of situational vignettes, the Benjamin Bankes character inspires 25-to-34-year-olds to take small, easy steps to manage their finances.
Anne Sebba's THE EXILED COLLECTOR: WILLIAM BANKES AND THE MAKING OF AN ENGLISH COUNTRY HOUSE (0719565715, $15.
Printed for Allen Bankes and Charles Harper, at the Flowerde-Luce near Cripplegate Church.
We are already planning for next year," said Bankes.
In May 1849, William Bankes, owner of Kingston Lacy, wrote a memorandum describing a pair of paintings 'by Bonifacio'--An allegorical representation of the origin of Rome ('[Una] Rappresentazione allegorica dell'origine di Roma') and Lycurgus giving the law to the people ('Licurgo che consegna il codice al popolo')--that he had recently bought in Venice for an undisclosed price (Figs.