commercial bank

commercial bank definition - business

commercial bank

A federally or state-chartered financial institution that makes loans, accepts deposits, and offers an array of related services that are likely to include issuing letters of credit, renting safe deposit boxes, and selling travelers checks, and buying and selling foreign currency. Compare investment bank.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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