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The term national bank has several meanings:
- especially in developing countries, a bank owned by the state
- an ordinary private bank which operates nationally (as opposed to regionally or locally or even internationally)
In the past, the term "national bank" has been used synonymously with "central bank", but it is no longer used in this sense today. Some central banks may have the words "National Bank" in their name; retrospectively if a bank is named in this way, it is not automatically considered a Central Bank. Example: National-Bank AG in Essen, Germany is a privately owned commercial bank, just like National Bank of Canada of Montreal, Canada. On the other side, National Bank of Ethiopia is the Central Bank of Ethiopia and National Bank of Cambodia is the Central Bank of Cambodia
Australia
The Commonwealth Bank of Australia was founded by an Australian Act of Parliament in 1911. Bank Nationalisation was the policy of the Andrew Fisher Labor Government. In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in Australia to receive a Federal Government guarantee.
In 1958 and 1959, there was a controversy concerning the dual function of the bank as the central bank on the one hand and a general bank on the other. As a result of this, the bank was split, giving the reserve bank function to the Reserve Bank of Australia and the general bank function to the Commonwealth Banking Corporation.
The Commonwealth bank was privatised in the 1990s by the Keating Labor government. At present it is the second largest bank in Australia, after the National Australia Bank which has always been privately owned.
India
National Bank for Rural and Agricultural Development (NABARD) - http://www.nabard.org
New Zealand
State-owned banks
New Zealand currently has one state-owned bank, Kiwibank created by Labour- Alliance coalition government.The New Zealand government formerly owned two other banks in New Zealand: The Bank of New Zealand, from 1945 to 1992 when it was privitized by Bolger's National government, and the Post Office Savings Bank from when it was created by separating New Zealand Post's functions to when it was privitized and sold to ANZ New Zealand in 1989. ANZ became known as ANZ-PostBank before later becoming completely assimilated.
National Bank of New Zealand
The National Bank of New Zealand is a private bank corporation which has been purchased by ANZ 2003 from its former owner, Lloyds TSB.Pakistan
National Bank of Pakistan is a major bank in Pakistan.
United States
In the United States, the term "national bank" originally referred to the revolutionary era Bank of North America, its successor First Bank of the United States, or its successor the Second Bank of the United States. All are now defunct.
In the modern U.S. the term "national bank" has a precise meaning: a banking institution chartered by the Office of the Comptroller of the Currency ("OCC"), an agency in the U.S. Treasury Department, pursuant to the National Bank Act. The inclusion of the word "National" in the bank's name or the designation "National Association" or its abbreviation "N.A." is a required part of the distinguishing legal title of a national bank, as in "Bank of America, N.A." Many "state banks," by contrast, are chartered by the FDIC.
Notwithstanding the name, not all "national banks" have nationwide operations. Some "national banks" have operations in only one state. Further, some state-chartered banks have nationwide operations, but are not properly called "national banks." "National banks" should also be distinguished from federal savings associations (which include federal savings & loans and federal savings banks), which are financial institutions chartered by the Office of Thrift Supervision, another agency in the U.S. Treasury Department.
External links
"National bank"