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| Definitions by InvestorWords.com |
| What is...? |
| bank An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects checks, drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks. see also account, member bank, check, money order, certified check, brokered CD, credit, commercial credit, cashier's check, central bank, commercial bank, commercial paper, depository, Glass-Steagall Act, home banking, institution, savings & loan, credit union, brokerage, investment bank, LIBOR, money center bank, mortgage banking, National Bank, passbook, PIN, regional bank, state bank, World Bank, mutual savings bank |
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