national bank

Thân thiện

A family deposits their savings at the national bank.

Definition

1. Noun:
   • A commercial bank chartered by the federal government: A "national bank" is a type of bank in the United States that operates under a charter granted by the federal government, specifically the Office of the Comptroller of the Currency (OCC), rather than by a state government.

Usage Examples

• Noun:
  • The company decided to open an account with a national bank for its broader network.
  • National banks must display the word "National" in their names or use the abbreviation "N.A." (National Association).

Advanced Usage

• Historical Context: In U.S. banking history, the term "national bank" became prominent under the National Bank Acts of 1863 and 1864, which established a system of federally chartered banks to issue a uniform national currency.
  • The legislation created a dual banking system with both state banks and national banks.

Variants and Related Words

• National Banking System (n): The system comprising all federally chartered national banks and the regulations governing them.
  • The stability of the national banking system is a key concern for regulators.

Synonyms

• Federally chartered bank: A bank operating under a federal charter.
• National association (in a bank's legal name): Often appears as part of a national bank's official title (e.g., "Citibank, N.A.").

Different Meanings

• General/International Context: In a non-U.S. or general context, "national bank" can sometimes refer to a country's central bank (e.g., the National Bank of Switzerland). However, in the primary U.S. financial and legal context explained above, it specifically denotes a federally chartered commercial bank, not the central bank (which is the Federal Reserve).

Học thuật

Noun

1. a commercial bank chartered by the federal government