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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 ?
UK Stem Cell Bank, Code of Practice for the use of Human Stem Cell Lines (April 2010), online: <http://www.
A medical school spokesman said closing the stem cell bank is expected to eliminate about nine jobs.
The schedule: The stem cell bank could be distributing stem cell lines to researchers within the next 8-12 months.
The bank will serve the entire United States and will be operated out of Dallas by BioLife Cell Bank, LLC, utilizing the StemSource[R] Cell Bank equipment from Cytori Therapeutics.
Browse full research report with TOC on "Cell Banking Outsourcing Market Analysis By Bank Type (Master Cell Banks, Working Cell Banks, Viral Cell Banks), By Cell Type (Stem Cell, Cord Blood, Embryonic, Adult Stem, Dental, IPS Stem Cells, Non-stem Cells), By Phase (Bank Preparation, Storage, Characterization & Testing, Safety Testing, Viral, Microbial Banks, Gene Expression, Karyology, Gene Sequencing Testing) And Segment Forecasts To 2022" at: http://www.
The agreement increases the size and global reach of the stem cell bank, adds new information to the registry and clears the way for collaboration on education and training of stem cell workers, the university reported.
Bangalore, March 28(ANI):Narayana Health City,a hospital in Bangalore,has come-up with a public stem cell bank named the Rotary Narayana Tissue Bank and Stem Cell Research Centre.
Many critics have attacked the cord stem cell banks as a poor investment by families because the likelihood of a child needing a stem cell transplant is very remote to justify the costs.
Having a StemSource[R] Cell Bank will further distinguish our growing practice.
BOSTON - While it may be two years before the University of Massachusetts Medical School can build permanent facilities for a major stem cell bank and genetic medicine research centers, school officials hope to start those projects in temporary Worcester facilities within the next year.
This patent provides additional protection for the Company's cell banking platform, the StemSource[R] Cell Bank, which Cytori is currently commercializing in both Europe and Asia.
As part of the new relationship, GE Healthcare will commercialize the Celution System in the areas of cosmetic and reconstructive surgery, translational medicine, and stem cell banking in combination with Cytori's StemSource([R]) Cell Bank product.