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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 existing master cell bank and current production scale are sufficient to supply our anticipated product needs through pivotal clinical trials.
(43.) UK Stem Cell Bank, Code of Practice for the use of Human Stem Cell Lines (April 2010), online: <http://www.ukstemcellbank.org.uk/pdf/Code_ of_Practice_for_the_Use_of_Human_Stem_Cell_ Lines2/0282010%29.pdf>.
While it may have quickly outlived its usefulness, the initial investment in the stem cell bank was an important one "that made an important statement about the state's commitment to stem cell research," Mr.
A spokeswoman with the Health and Human Services Commission said the agency is in the very early stages of considering whether to create the stem cell bank. A few weeks ago, the agency received a letter from Houston Reps.
The project is spear-headed by Dr Michael Pepper, extraordinary professor in the department of immunology at the University of Pretoria and a director of Netcell, one of the country's three private stem cell banks.
However, in the United States, as in other regions with a majority white population, a stem cell bank designed to cover as many people as possible with a limited number of lines would disproportionately exclude people of non-European descent.
Britain already has a Stem Cell Bank but at present it contains stem cells suitable only for research, not medical treatment.
WiCell Research Institute, a nonprofit organization headquartered at the University of Wisconsin, Madison, will be home to a new national stem cell bank thanks to a $16.1 million grant from the National Institutes of Health.
Hatch (RUT) on March 17, calls for the provision of cord-blood units for research purposes and for the creation of a National Cord Blood Stem Cell Bank Network--a repository of a minimum 150,000 cordblood units ready for transplant upon successful matching with potential recipients.
* In May, the United Kingdom officially opened the world's first stem cell bank. Funded by the Medical Research Council and the Biotechnology and Biological Sciences Research Council, the bank will be run by the National Institute for Biological Standards and Controls and will hold stem cell lines derived originally from embryonic, fetal, and adult tissues.
A landmark in stem cell research will be reached today with the official launch of the UK Stem Cell Bank.
The study is being carried out by the Northwestern Ontario Technology Centre (NOTC) and a group of Thunder Bay medical community stakeholders working together to study the feasibility of a bone tissue bank and umbilical cord blood stein cell bank. The $30,000-study is being funded by the Northern Ontario Heritage Fund Corp.