national bank

n.1. A bank in a system of federally chartered commercial banks in the United States, supervised by the Office of the Comptroller of the Currency, a department of the US Treasury.2. A bank controlled by or associated with a national government, especially a central bank.

national bank

n 1. (Banking & Finance) (in the US) a commercial bank incorporated under a Federal charter and legally required to be a member of the Federal Reserve System. Compare state bank 2. (Banking & Finance) a bank owned and operated by a government

na′tional bank′

n. a bank chartered by the U.S. government and formerly authorized to issue notes that served as money. [1780–90]

Thesaurus

Noun

national bank - a commercial bank chartered by the federal governmentFederal Reserve, Federal Reserve System, FRS, Fed - the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"commercial bank, full service bank - a financial institution that accepts demand deposits and makes loans and provides other services for the public

national bank

national bank,

in the United States, financial institution of a class authorized by Congress in acts of 1863 and 1864. The acts were intended to provide a way of marketing the large bond issues made necessary by the Civil War and to give circulation to a paper currency more trustworthy than the notes of state banks had proved to be. The act of 1864 authorized the formation of private banking corporations that were to invest a large part of their capital in bonds of the United States and that might then issue their notes as currency. The amount of the notes was not to exceed 90% of either the face value or the par value of the bonds, depending on which of the two was smaller. Subsequent acts modified the act of 1864 in various details, and the plan was changed fundamentally by the Federal Reserve Act of Dec. 23, 1913, which provided for the gradual substitution of Federal Reserve notes and Federal Reserve bank notes for national bank notes. The Federal Reserve Act also required all national banks to become members of the Federal Reserve SystemFederal Reserve System,
central banking system of the United States. Established in 1913, it began to operate in Nov., 1914. Its setup, although somewhat altered since its establishment, particularly by the Banking Act of 1935, has remained substantially the same.
..... Click the link for more information. .

Bibliography

See bibliography under bankingbanking,
primarily the business of dealing in money and instruments of credit. Banks were traditionally differentiated from other financial institutions by their principal functions of accepting deposits—subject to withdrawal or transfer by check—and of making loans.
..... Click the link for more information. .

National bank

A commercial bank approved by the U.S. Comptroller of the Currency, which is required to be a member of and purchase stocks in the Federal Reserve System.

National Bank

In the United States, a bank that has received its charter from the Office of the Comptroller of the Currency (OCC). National banks are regulated by the OCC and are required to be member banks of the Federal Reserve System. Deposits in national banks are insured by the FDIC.

National bank.

All banks in the United States are chartered by either a state government or the federal government. Federally chartered banks, called national banks, are overseen by the Comptroller of the Currency of the US Department of the Treasury.

All national banks are members of the Federal Reserve System and deposits are insured by the Federal Deposit Insurance Corporation (FDIC).

The dual banking system of federal- and state-chartered banks can be traced to the National Banking Act of 1863. The act created the new federal bank system in an attempt to impose order on what had been a chaotic situation. State banks have survived, however, and the two banking systems coexist.

national bank

national bank

national bank

na′tional bank′

national bank

national bank,

Bibliography

National bank

National bank

National Bank

National bank.

national bank

Words related to national bank

noun a commercial bank chartered by the federal government

Related Words