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 ?
I have always believed that the only way to champion corneal blindness is to provide clinical training courses and actually create new eye banks in impoverished countries.
To find out more about becoming an eye and tissue donor and for a list of other eye banks affiliated with Tissue Banks International, log on to www.
Mrs Aida Breckinridge became the first eye bank director, and she worked hard to publicise the need for donations.
The Rocky Mountain Lions Eye Bank is the recovery agency for donated eye tissue in Colorado and Wyoming.
We are working to change those attitudes," notes William Medley, CORE's eye bank coordinator and member of the new Committee.
Donate Life Illinois member organizations include: -- American Liver Foundation-Illinois -- Gift of Hope Organ & Tissue Donor Network -- Heartland Lions Eye Bank -- Illinois Coalition of Community Blood Centers -- Illinois Secretary of State Organ/Tissue Donor Program -- Mid-America Transplant Services -- Midwest Eye-Banks and Transplantation Center/Illinois Eye-Bank -- Muskuloskeletal Transplant Foundation -- National Kidney Foundation of Illinois
Under an agreement with the Tarrant County Medical Examiner's office, the newly formed Fort Worth Eye Bank will assess a decedent's eligibility to be an eye and tissue donor.
The Eye Bank Association of America (EBAA) has announced the new members either appointed or elected to its 2010-2011 Board of Directors.
According to the Rocky Mountain Lions Eye Bank, the increase is due in part to a new procedure known as Endothelial Keratoplasty or EK.
According to the Rocky Mountain Lions Eye Bank, there were 1,741 total eye donors in 2004.
Butters has extensive experience in the tissue banking community and most recently served as executive director of the Lions Eye Bank of Wisconsin.