National bank


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National bank

A commercial bank approved by the U.S. Comptroller of the Currency, which is required to be a member of and purchase stocks in the Federal Reserve System.

National Bank

In the United States, a bank that has received its charter from the Office of the Comptroller of the Currency (OCC). National banks are regulated by the OCC and are required to be member banks of the Federal Reserve System. Deposits in national banks are insured by the FDIC.

National bank.

All banks in the United States are chartered by either a state government or the federal government. Federally chartered banks, called national banks, are overseen by the Comptroller of the Currency of the US Department of the Treasury.

All national banks are members of the Federal Reserve System and deposits are insured by the Federal Deposit Insurance Corporation (FDIC).

The dual banking system of federal- and state-chartered banks can be traced to the National Banking Act of 1863. The act created the new federal bank system in an attempt to impose order on what had been a chaotic situation. State banks have survived, however, and the two banking systems coexist.

References in periodicals archive ?
Hamza Islam, Country Director for Pakistan at WorldRemit, comments: "National Bank Pakistan is a natural partner for WorldRemit, as we both look to extend access to remittances through formal and safe channels.
Postal Minister, Moulana Amir Zaman Bukhari also highlighted the salient features of the MoU according to which National Bank of Pakistan will install ATM Machines in the major Post Offices across the country for quick transfer of home remittances, international remittances, and further improvement of disbursement of pension including introduction of Islamic Bank.
The agreement is part of National Bank of Egypt's initiative to strengthen relations with international financial institutions, thereby diversifying sources of funding for the bank's activities and products.
That is why National Bank's Deputy head, Kuat Kozhahmetov came out to meet protesters.
Modifications to the National Bank's decision concerning the mandatory reserve have also been passed.
The introduction of Islamic banking in Oman will lead to loan growth of 15 percent this year, NBK Capital said and upgraded the sultanate's largest lenders, Bank Muscat SAOG and National Bank of Oman.
The National Bank Council reviewed the financial statements of the National Bank of the Republic of Macedonia (NBRM) and the annual account for 2011, which were audited by an independent external auditor.
Federal regulators closed Williamsburg First National Bank of Kingstree on Friday and turned it over to First Citizens Bank and Trust Co.
Abu Dhabi-listed National Bank of Umm Al Quwain is to appeal against a Dubai court decision ordering it to pay $250 million to Kuwait's Global Investment House.
adults say they have "considered moving some or all of (their) banking from a large national bank to a community bank or credit union because (they) are unhappy with the policies or behavior of large national banks."
adults surveyed by Zogby International said they've considered moving some or all of their banking business from a large national bank to a community bank or credit union because they're "unhappy with the policies or behavior of large national banks." Fourteen percent said they have moved some of their banking in the past year from a large national bank to a community bank or credit union, with 9 percent saying they've moved some of their business from large national banks as a protest.
While this particular argument was leveled against branching restrictions up until the 1994 repeal, the homogeneity of community life was particularly acute during the antebellum and national bank eras.

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