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Glossary   >   B   >   "Bank" Definition            Bank A commercial institution licensed as a receiver of deposits. Banks are mainly concerned with making and receiving payments as well as supplying short-term loans to individuals. A business that holds money for its clients, lends money at interest and trades generally in money. An institution which:takes deposits from individuals, companies, organisations etc. and provides them with various financial servicespays interest on deposits, which may be fixed or variable, but which usually vary according to the amount of money deposited and the amount of time it stays in the accountmakes loans and charges interest on themBanks operating in the UK, formerly regulated by the Bank of England, are now authorised and supervised by the Financial Services Authority. In the USA, banks are regulated under the Federal Reserve System. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Bank \ A commercial institution licensed as a receiver of deposits. Banks are mainly concerned with making and receiving payments as well as supplying short-term loans to individuals.

A business that holds money for its clients, lends money at interest and trades generally in money.

An institution which:takes deposits from individuals, companies, organisations etc. and provides them with various financial servicespays interest on deposits, which may be fixed or variable, but which usually vary according to the amount of money deposited and the amount of time it stays in the accountmakes loans and charges interest on themBanks operating in the UK, formerly regulated by the Bank of England, are now authorised and supervised by the Financial Services Authority. In the USA, banks are regulated under the Federal Reserve System.