bank

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Related to International banking: HSBC, International Banking Act of 1978

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 ?
The corporate banking division contributed 61% to the bank's total net interest income, followed by international banking (17%), consumer banking and asset and wealth management (4% each).
Consequently, the Board recommends that the International Banking Act be amended to clarify that the federal banking agencies are authorized to share supervisory information with their foreign counterparts, subject to adequate assurances of confidentiality, when such sharing is appropriate in carrying out the.
As the business environment becomes increasingly global, we look forward to offering businesses a local solution for their domestic and international banking needs.
The International Banking Centre is a unit of the HSBC Bank Malta, which provides professional banking services to overseas clients who wish to expand or relocate to Malta.
The International Banking Department will support business activities of Banner Bank's domestic customers.
Park, an expert on international banking and global financial markets, is currently Professor of International Banking and Finance at that School of Business and Public Management of George Washington University in Washington, D.
Banc One International Company is a newly formed subsidiary that will house all of BANC ONE's international banking operations.
City National Bank's International Banking Services department serves businesses, professional firms, business managers and their clients, and entrepreneurs through a range of international banking services, including trade financing, currency management, foreign exchange, foreign credit information, online foreign exchange and online letters of credit.
14 /PRNewswire/ -- David Konfino, a former senior vice president of NationsBank with extensive international banking experience, has joined Miami-based Capital Bank as executive vice president of the International Division, announced Daniel Holtz, Capital Bank's president and chief operating officer.
explained, "We invite all non-residents of Belize to enjoy the freedom and the benefits of International Banking in Belize.
NASDAQ: MTCI) a developer of software for international banking, will market a Unix-based international banking system developed by IBS-Ketel under an agreement providing MTI with a minimum of 50 percent of the product revenues from each sale.

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