State bank
State bank
Definition
☆ State bank
noun
a bank chartered by a state of the U.S. and subject to its regulations
state bank Finance Definition
A
bank that is organized under state laws, not federal laws. State banks have
their deposits guaranteed by the Federal Deposit Insurance Corporation (FDIC),
and have the option of joining the Federal Reserve System. If they dont use
that option, they still can purchase services from the Fed, such as check
processing and clearing. For a consumer, there is little detectable difference
between a state-chartered bank and a federally chartered bank.
Browse dictionary entries near State bank
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