national bank

national bank

n.

1. A bank in a system of federally chartered privately owned banks in the United States, each required by law to be an investing member of its district Federal Reserve Bank and insured by the Federal Deposit Insurance Corporation.

2. A bank associated with national finances and usually owned or controlled by a government.

Thesaurus

Noun

1.

national bank - a commercial bank chartered by the federal government Federal Reserve, Federal Reserve System, FRS, Fed - the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply" commercial bank, full service bank - a financial institution that accepts demand deposits and makes loans and provides other services for the public