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 share of the bank's corporate banking business in total segment revenue was 56%, followed by international banking (18%), asset and wealth management (5%) and consumer banking (4%).
Rosenberg has over 30 years of experience in international banking and trade finance to Bridge Bank, including having founded and held executive-level positions at several international banking and trade finance firms.
In his role, Debono would cover the management of the bank's international banking centre, which is a unit within HSBC Bank Malta.
While the International Banking Act gives the Board the residual responsibility for supervising all of a foreign bank's U.
The SWIFT announcement follows Umpqua Bank's establishment of an international banking division last May.
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.
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.
explained, "We invite all non-residents of Belize to enjoy the freedom and the benefits of International Banking in Belize.
MetroBank in Texas has been offering trade finance and other international banking services to its customers for over 10 years.
During his 22-year tenure with Crocker, he was team leader/manager - and, later senior vice president - of the International Division in San Francisco, as well as senior vice president and manager of Crocker's Los Angeles International banking office.
Asset Finance Division is part of the Wholesale and International Banking division of the Lloyds TSB Group.
Our International Banking colleagues have tremendous insight about foreign currency, international markets and trade financing, and delivering this information to our clients and others via RSS and podcasting demonstrates our commitment to providing value-added content online.

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