bank

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Related to Credit institutions: credit bureau, Credit report

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 provision does not take into consideration that there are international banks operating in Cyprus, which trade extensively with their parent credit institutions and other banks abroad.
The following are not included in this category: the state, central, regional and local public administration authorities, government agencies, central banks, credit institutions, financial institutions, other similar institutions and any other person deemed a qualified investor in the capital market legislation.
Unlike the group of the large credit institutions, concerning the small credit institutions, we can notice a high degree of heterogeneity in terms of the capital value rates (Chart).
The Bank of Greece has statutory authority to terminate the operating license of a credit institution for, among other things, maintaining insufficient capital, impeding supervision by any means, or violating legal provisions, decisions, or regulations set out by the banking supervisory authorities.
Loans to agriculture and rural areas reached VND 15,111 billion, up 6.53% compared to the end of 2018 and accounted for 28.35% / total outstanding loans of credit institutions. In the first 6 months of 2019, 22 dialogues and banking and business conferences were organized with the amount of VND 5,616 billion for 291 enterprises and 6 other customers, outstanding loans were VND 3,134 billion.
According to the central bank, the draft legislation should be changed so that the loss of credit institutions could be covered with profit from the following periods without generating a tax liability for the credit institution.
Credit institutions have been instructed to review bad debt and prepare plans to sell it to a debt trading firm this year.
The number of cooperative credit institutions will be reduced to 18 via mergers.
Cyprus Ministry of Finance issued Friday a second decree, exempting four credit institutions operating in Cyprus from the capital restrictions imposed on Cypriot banks.
The pattern mentioned previously was followed also at the construction of the present Romanian banking system, this allowing the identification of both the pluri-institutional level represented by the category of credit institutions, Romanian legal entities, and the mono-institutional level at which the National Bank of Romania is situated.
The study showed variations across the member states in the regulation and supervision of mortgage lenders that are not registered as credit institutions' under domestic law.
Under this directive, investment firms, like credit institutions, would be able to provide services across borders and establish branches throughout the Community without obtaining authorization from the host country.