National Bank – Generally a banking institution owned and controlled by the state or government especially in developing countries like Philippines. The term national bank was been synonymously used with central bank. Today central banks were not commonly used some central banks may have national bank on their name. A national bank is a system of federally 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.

National banks are commonly associated with national finance system of a state or a government.

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Related ChexSystems Banking Information:

1. National Credit Union Association
2. Federal Reserve
3. FDIC
4. Federal Deposit Insurance Corporation
5. Member Bank

Tagged as: Government Owned Bank, National Bank