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Bank

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Definition Edit

Banking Edit

A bank is

any person that is located in a State and engaged in the business of banking and includes —
(A) any depository institution (as defined in section 19(b)(1)(A) of the Federal Reserve Act);
(B) any Federal reserve bank;
(C) any Federal home loan bank; or
(D) to the extent it acts as a payor —
(i) the Treasury of the United States;
(ii) the United States Postal Service;
(iii) a State government; or
(iv) a unit of general local government (as defined in section 602(24) of the Expedited Funds Availability Act).[1]

References Edit

  1. 12 U.S.C. §5002(3)(2).

See also Edit

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