en     ru     jp
 
 
private banking
private banking
private banking
private banking
private banking
private banking
private banking
     
 
Home
      
Knowledge Base
      
Financial Glossary
      
State bank
       
 
Back

State bank

 Search definitions     
  Search  

State bank
Bank organized under a state, rather than a federal, Charter.
    
A state bank is generally a bank that is chartered by a state. It differs from a reserve bank in that it does not necessarily control monetary policy (indeed, the state in question may have no legal capacity to create monetary policy), but instead usually offers retail and commercial services.
    
In the United States the term state bank is used in contradistinction to "national bank." All national banks are chartered by the Office of the Comptroller of the Currency, as are some state banks. Other state banks choose to have their charters processed by the FDIC and correspondingly subject themselves to regulation by the FDIC and the Department of Finance (or equivalent) of their respective states. The Federal Deposit Insurance Corporation (FDIC) is a United States government Corporation .
    
The Australian states all used to have state banks, but all have since been privatized. Although the Commonwealth Bank of Australia was to some extent a state bank by the above definition before privatization, the word "state" in Australia refers predominantly to the sub national entities.
    
A state bank that has been in operation for five years or less is called a De Novo bank.
Posted by  Convention of Independent Financial Advisors CIFA
 
  Back  
  Print  
  Email  

 

private banking
Get Adobe Flash Player to view the media
FlashPlayer required to view the media
private banking
private banking
private banking
private banking
private banking

 
Home News Library Newsletters Event Calendar Advertise About Contact FAQ
Privacy Policy     Terms of Service
 

©