A state bank is generally a financial institution that is chartered by a state. It differs from a reserve bank in that it does not necessarily control monetary policy (indeed, the state in question may have no legal capacity to create monetary policy), but instead usually offers only retail and commercial services.
A state bank that has been in operation for five years or less is called a de novo bank.
Read more about State Bank: United States, Australia, List of State Banks
Famous quotes containing the words state and/or bank:
“... in every State there are more women who can read and write than the whole number of illiterate male voters; more white women who can read and write than all Negro voters; more American women who can read and write than all foreign voters.”
—National Woman Suffrage Association. As quoted in History of Woman Suffrage, vol. 4, ch. 13, by Susan B. Anthony and Ida Husted Harper (1902)
“When women can support themselves, have entry to all the trades and professions, with a house of their own over their heads and a bank account, they will own their bodies and be dictators in the social realm.”
—Elizabeth Cady Stanton (1815–1902)