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Definitions from WordNet

Definitions from the Web

National Bank

Definition:

A national bank refers to a financial institution that is chartered and regulated by the government of a particular country. It operates at a national or federal level and provides various banking services to individuals, businesses, and other financial organizations.

Senses and Usages:

1. Financial Institution:

In this sense, a national bank is an organization that offers a wide range of banking services, such as accepting deposits, granting loans, providing credit cards, issuing cashier's checks, facilitating international transfers, and managing savings accounts.

Example sentence: I prefer keeping my money in a national bank because they offer competitive interest rates on savings accounts.

2. Government-Chartered Bank:

Here, a national bank refers to a financial institution that has received a formal charter or license from the government or central bank of a country. This charter provides certain privileges and subjects the bank to specific regulations and oversight.

Example sentence: The national bank's charter enables it to conduct business while having the full trust and backing of the government.

3. Central Bank:

In this usage, a national bank represents the central banking authority of a country, responsible for controlling and managing the country's money supply, formulating monetary policies, and regulating other financial institutions within the country.

Example sentence: The national bank plays a critical role in maintaining a stable economy through its control over interest rates and the money supply.

Related Products:

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• National Bank Accounts
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