Reserve Bank (Noun)
Meaning
One of 12 regional banks that monitor and act as depositories for banks in their region.
Classification
Nouns denoting groupings of people or objects.
Examples
- The Federal Reserve Bank of New York serves as a key player in the US monetary system.
- The St Louis Reserve Bank provides financial services to banks in the Eighth District.
- Prior to its collapse, the bank had $123 million in deposits at the Chicago Reserve Bank.
- The Dallas Reserve Bank is responsible for regulating banks in Texas, northern Louisiana, and southern New Mexico.
- By law, commercial banks must keep a percentage of their deposits on reserve at a regional Reserve Bank.