{"id":358837,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/bank.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"bank","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/bank.html","title":{"rendered":"Bank"},"content":{"rendered":"\n
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term:<\/p>\n

<\/h1>\n\n
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n<\/p><\/dt>\n

:<\/b> an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds <\/p>\n

branch bank<\/b>
:<\/b> a banking facility that is a separate but dependent part of a chartered bank
;esp<\/i>
:<\/b> a facility that performs some banking functions and is separate from a main office <\/p>\n

bridge bank<\/b>
:<\/b> a national bank that is chartered for a limited time to operate an insolvent bank until it is sold <\/p>\n

central bank<\/b>
:<\/b> a national bank that establishes monetary and fiscal policy and controls the money supply and interest rate <\/p>\n

collecting bank<\/b>
:<\/b> a bank other than the payor bank that is handling for collection a negotiable instrument or a promise or order to pay money <\/p>\n

commercial bank<\/b>
:<\/b> a bank organized chiefly to handle the everyday financial transactions of businesses (as through deposit accounts and commercial loans) <\/p>\n

cooperative bank<\/b>
:<\/b> an association (as a credit union) owned by and offering banking services for its members
;specif<\/i>
:<\/b> savings and loan association <\/a> <\/p>\n

depositary bank<\/b>
:<\/b> the first bank to take a negotiable instrument or promise or order to pay money unless the instrument, promise, or order is presented for immediate payment over the counter <\/p>\n

federal land bank<\/b>
:<\/b> a land bank that is under federal charter and regulated by the Farm Credit Administration <\/p>\n

Federal Re·serve bank<\/b>
:<\/b> one of 12 central banks set up under the Federal Reserve Act to hold reserves for and extend credit to affiliated banks in their respective districts <\/p>\n

intermediary bank<\/b>
:<\/b> a bank other than the depositary or payor bank to which a negotiable instrument or promise or order to pay is transferred in the course of collection <\/p>\n

land bank<\/b>
1<\/b> :<\/b> a bank that provides financing for land development and farm mortgages esp. by issuing stock see also federal land bank in this entry
2<\/b> :<\/b> a trust that holds land for purposes of preservation or conservation <\/p>\n

national bank<\/b>
:<\/b> a bank operating under federal charter and supervision <\/p>\n

nonbank bank<\/b>
:<\/b> a financial organization (as a branch of an out-of-state bank) that either accepts demand deposits or makes commercial loans <\/p>\n

payor bank<\/b>
:<\/b> a bank that is the drawee of a draft <\/p>\n

presenting bank<\/b>
:<\/b> a bank other than a payor bank that presents a negotiable instrument or promise or order to pay money <\/p>\n

sav·ings bank<\/b>
:<\/b> a bank organized to hold depositors’ funds in interest-bearing accounts and to make long-term investments (as in home mortgage loans) <\/p>\n

state bank<\/b>
:<\/b> a bank operating under state charter and law
bank·er [ba-kər]
n<\/i>
<\/b><\/i><\/p>\n<\/dd>\n<\/dl>\n

Source: Merriam-Webster’s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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