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 ?
After the tissue bank was shaken by scandals, the Bishop himself had given up on it.
If someone goes into hospital with colorectal cancer and has the tumour removed in surgery, it goes to the pathologist to check that it has all been removed and then into waste, but we are requesting that it goes to the tissue bank instead," added Dr Steele.
To support the business, two key executives from the human tissue bank sector, Jacki Trafford and Dr Shaun Kingston, have joined Abcellute to drive the new Abcellute Tissue Bank service forward.
The advantage of lyophilization is hospitals and tissue banks don't need huge freezers to store it and tissue can basically be shelf-ready.
Cooke's bones were sold to Regeneration Technologies, one of the country's largest tissue banks.
Among the specimens in the tissue bank are 20 to 30 brains taken from individuals whose deaths were subject to inquests 10-20 years ago.
American Association of Tissue Banks Recognizes Medical Shipping Company For Service
Licensure is an intensive process, and is required for all tissue banking activities in New York, including collection, processing, storage, and distribution, as well as any tissue bank distributing tissues in New York.
The Bulgarian tissue bank "Osteocenter Bulgaria" has been nominated for the prestigious International Star Award for Quality presented by Business Initiative Directions Awards.
Northwestern Ontario Technology Centre (NOTC) has been chosen to direct and develop a Regenerative Medicine and Research Institute and Tissue Bank in Thunder Bay.
The Chernobyl Tissue Bank is being co-ordinated by the Cancer Institute at Swansea's Singleton Hospital.
In Englewood, Colorado, another tissue bank has been in operation since 1976.