Member Bank (Noun)
Meaning
A bank that is a member of the Federal Reserve System.
Classification
Nouns denoting groupings of people or objects.
Examples
- The local bank was a member bank of the Federal Reserve System, which allowed it to access a wide range of financial services and resources.
- As a member bank, the institution was required to maintain a certain level of reserves and adhere to strict regulatory guidelines.
- The large commercial bank was a member bank of the Federal Reserve System, giving it a strong reputation and access to liquidity.
- The community bank's status as a member bank allowed it to offer its customers a wider range of financial products and services.
- The regional bank's membership in the Federal Reserve System as a member bank gave it a competitive edge in the market.