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 ?
According to the above decision, the private healthcare institutions located in Dubai will not receive blood and blood products from the above blood banks (Abu Dhabi and Sharjah)," read the circular.
He affirmed that this conference is a preparatory conference for the coming conference that will review several joint GCC key policies, like establishing a system to deal with GCC blood banks services.
Now an exchange value of ` 1600 per litre of plasma has been fixed and the blood banks with surplus plasma can exchange it for consumables, equipments or plasma derived products, as per their need.
As the demand for stem cell storage is increasing, many blood banks have emerged to satisfy the expectation of people.
In partnership with the local authorities, Merlin will be developing an emergency preparedness plan for all blood banks within the Gaza Strip, with the Ministry of Health's blood banks as the lead supplier of blood for all.
Blood bank staff kept their own departmental log of telephone calls received during a 1-week period from May 5-11, 2005.
Blood banks make sure there's enough life-saving blood to go around.
Roger Der, co-director of the Henry Mayo Newhall Memorial Hospital blood bank, accepts an award from Patricia Le Blanc from the American Red Cross.
So why don't blood banks increase their efforts to recruit new donors?
MIAMI -- South Florida blood repositories and three Nobel Peace Prize winners launched the Children's World Blood Bank, aimed at ensuring a secure supply of safe blood for children in the developing world.
Boston, MA, has opened the UK Cord Blood Bank in London, England, the first private cord blood bank in the UK.
Three blood units at Munir Chowk Gujranwala, namely Punjab Blood Bank, Civic Centre Blood Transfusion Centre and Al-Qaim Blood Bank were sealed.