Related Words

Fog Bank: A fairly well-defined mass of fog observed in the distance. Most commonly seen at sea, over a lake, or along coastal areas.

Member Bank: A national- or state-chartered bank that is a member of the Federal Reserve System.

Mitigation Bank: A bank is created when wetlands at a site are restored, enhanced or created in advance of destruction of similar wetlands in nearby locations. The bank then sells 'credits' in the bank to pe . . . View Full Definition

Merchant Bank: A British term for a bank that specializes not in lending its own funds, but in providing various financial services such as accepting bills arising out of trade, underwriting new issues, an . . . View Full Definition

London Interbank Offered Rate (LIBOR): The rate of interest that major international banks in London charge each other for borrowings. Many variable interest rates in the U.S. are based on spreads off LIBOR. By contrast with the . . . View Full Definition

Job Bank: Refers to pools of retired employees who are used by employers to fill part-time or temporary position needs.

Legal Bankruptcy: A legal proceeding for liquidating or reorganizing a business.

Money Center Banks: Banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.

Mortgage Banker: A lender, other than a bank, credit union, or savings and loan, that specializes in making residential mortgage loans.

National Bank Act Of 1863: In 1863, President Abraham Lincoln, at the urging of Salmon Chase, the Secretary of the Treasury, signed the National Bank Act. The Act established a national banking system and a uniform na . . . View Full Definition