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 ?
The GDN reported yesterday that the blood bank targets to collect 20,000 units of blood annually.
Wendy Barnett, clinical director at Pet Blood Bank UK, said: "The launch of the mobile unit gives us a fantastic opportunity to reach more donors, as well as the flexibility to run extra sessions at short notice.
Conclusion: Availability of ABO and Rh blood bags in private and public hospital blood banks of Lahore and Peshawar cities were similar.
Official said that the authority has confined its role up-to some administrative affairs of check and balance in the blood banks but has contributed nothing to enhance the capacity of the blood banks.
It added that, as per European directives and the protocol of the blood bank itself, they had had to trace all of the recipients of the blood derivatives of the immediately preceding negative blood donation from the same donor and test them.
The Cord Blood Bank now banks about 30 percent of the public cord blood donated, Fox said.
The move will help the patients who are in urgent need of platelets as sometimes those in urgent need have to move to private blood banks to get the platelets at a much higher rate.
The investigation was ordered after a hospital staff in the safety of the blood bank was caught stealthily carrying blood in a tiffin box.
Blood Bank, Smartphone, blood bank system, Health System, IOS system, IPhone application.
Summary: DHA says the Abu Dhabi Blood Bank and Sharjah Blood Bank are no longer able to supply blood and blood products to the facilities outside the respective Emirates.
Shaikh Mohammed bin Abdullah Al Khalifa, the King Hamad University Hospital (KHUH) organised the first conference for blood banks services themed "Donate blood..Save a life", in cooperation with blood bank at the Salmaniya Medical Complex.
Blood Bank of Alaska has opened a new community blood center in Wasilla to serve Mat-Su Valley blood donors.