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 ?
In recent years, the number of donor corneas procured by eye banks is steadily increasing all over the world.
Review of data from the eye bank indicated that the donor body was refrigerated within 3 hours after death; eyes were recovered approximately 8 hours after death.
Mrs Aida Breckinridge became the first eye bank director, and she worked hard to publicise the need for donations.
Dr Murphy said the Denver eye bank had been thoroughly evaluated.
The Lions Eye Bank, incorporated in 1984, is instrumental in encouraging people to donate their eyes to the program and in providing the skilled staff and medical equipment needed to perform the transfer.
Rao, who served on the Medical Advisory Board of the Eye Bank Association of America, played a major role in the creation of the Eye Bank Association of India (EBAI), of which he is also the former president.
com)-- Stakeholders holders and city officials broke ground at the new Lions Eye Bank of Wisconsin (LEBW) facility at 5003 Tradewinds Parkway, in Madison Wisconsin, on Thursday, January 25.
KARACHI -- A 10-member delegation of Chinese ophthalmologists, eye surgeons and support staff are arriving in Karachi tomorrow to perform 500 cataract eye operations at Pakistan Eye Bank Society (PEBS) Hospital in North Karachi from January 10 to 24, 2018.
KARACHI -- Chinese team of Doctors will perform free eye surgeries of poor and needy patients from 10-24th January, 2018 at Pakistan Eye Bank Society Hospital North Karachi.
A scientific letter on corneal donations at the Gauteng Cornea and Eye Bank reported that the numbers of corneal graft donations in Gauteng Province had steadily diminished between 1998 and 2008.
MATERIALS AND METHODS: The study was performed at Mahatme Eye Bank Eye Hospital, Nagpur, India between July 2006 to April 2007 after approval of ethics committee.