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 ?
On the other hand-side, in July 2010, Bulgarian tissue bank "Osteocenter Bulgaria" was nominated for the prestigious International Star Award for Quality presented by Business Initiative Directions Awards.
Fifteen of the musculoskeletal tissues were implanted; the remaining 28 were returned to the tissue bank.
She will be working at the new human tissue bank (inset)
Paul Lee, investment manager at Finance Wales, said: "Finance Wales is pleased to invest in this funding round which will help Abcellute, a Cardiff University spin-out headquartered in Wales, to expand and establish its new Tissue Bank.
The advantage of lyophilization is hospitals and tissue banks don't need huge freezers to store it and tissue can basically be shelf-ready.
Cooke's bones were sold to Regeneration Technologies, one of the country's largest tissue banks.
M2 PHARMA-August 12, 2013-Bioheart Inc wins validated FDA registration for stem tissue bank establishment(C)2013 M2 COMMUNICATIONS
com)-- ReproTech's Minnesota cryostorage center is approved as a Tissue Bank for the storage of human reproductive tissues, as well as for comprehensive tissue procurement for its embryo donation program.
M2 EQUITYBITES-April 3, 2013-Bioheart Inc concludes tissue bank FDA registration process(C)2013 M2 COMMUNICATIONS http://www.
Prof Innes, who is one of two founding members of the Veterinary Tissue Bank, Europe's first donor service for pets, said: "Poor Merlin's injuries were both severe and extensive.
The Bulgarian tissue bank "Osteocenter Bulgaria" has been nominated for the prestigious International Star Award for Quality presented by Business Initiative Directions Awards.
Veterinary Tissue Bank Ltd, based at Chirk, will process and supply bone and soft tissue to help vets heal badly injured pets.