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:
“Science is neither a single tradition, nor the best tradition there is, except for people who have become accustomed to its presence, its benefits and its disadvantages. In a democracy it should be separated from the state just as churches are now separated from the state.”
—Paul Feyerabend (1924–1994)
“on a May morwening upon Malverne hilles
Me befel a ferly, of fairye me thoughte;
I was wery ofwandred and wente me to reste
Under a brod bank by a bournes side;
And as I lay and lenede and lookede on the watres,
I slomerede into a sleeping, it swyede so merye.”
—William Langland (1330–1400)