National Bank

Definition

National Bank. A commercial bank whose charter is approved by the Office of the Comptroller of the Currency (OCC) rather than by a state banking department

National Banks are required to be members of the Federal Reserve System and belong to the Federal Deposit Insurance Corporation.

See Also

• http://www.ffiec.gov/nicpubweb/Content/HELP/Institution%20Type%20Description.htm

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.