Chartered Bank

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Chartered Bank

A bank that has received the appropriate regulatory approval to operate and/or to receive certain government guarantees. Banks are regulated by the laws and central banks of their home countries; normally, they must receive a charter to engage in business. A charter indicates that the bank complies and must continue to comply with appropriate regulations, such as maintaining a certain minimum capital. See also: Participating bank.
References in periodicals archive ?
There are roughly 300 state chartered banks in New York, The Bank of New York Mellon Corporation and Goldman Sachs among them.
During the past 10 years, federally chartered banks have been granted increased powers to make them more competitive with other financial-services providers.
Both the Bush and the Clinton Administrations recommended reorganizing financial supervision in order to permit nationally chartered banks to perform securities and insurance services within "operating subsidiaries" that would be part of the bank and not subject to supervision by the Fed.
The services and infrastructure developed by Texas Capital Bank enabled it to grow organically in seven years from a newly chartered bank to $3.
Texas Capital is a highly successful middle-market commercial bank that has grown organically in seven years from a newly chartered bank to $3 billion in assets.
In its March 2002 determination, the OCC concluded that the first three restrictions significantly interfered with and were preempted by Federal law as applied to the ability of nationally chartered banks to sell insurance.
Until at least October 1, 2004, the Treasury Department is precluded by law from enacting another regulation promulgated by the Federal Reserve Board and Treasury that would allow federally chartered banks to enter real estate brokerage and property management.
Such criteria is still applicable, including the assessment of additional credit enhancement, for loans originated in any jurisdiction by non-OTS-regulated entities and in Georgia by any entity which is not an OCC-regulated entity or a Georgia chartered bank or savings association.
In Alaska, state-chartered banks are supervised by the State of Alaska, while the Office of the Comptroller of the Currency (part of the US Treasury Department) supervises federally chartered banks.
10, 1995--Family Bancorp (NASDAQ:FMLY) announced today that it has completed its conversion from a Massachusetts chartered bank holding company to a federally chartered thrift holding company.

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