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national bank definition - finance
A commercial bank that receives its charter, or permission to operate, from the Comptroller of the Currency instead of a state banking department. National banks must be members of the Federal Reserve System and the Federal Deposit Insurance Corp. (FDIC). They also must own stock in their regional federal reserve bank.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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