national bank

noun

1. a bank chartered by the U.S. government and formerly authorized to issue notes that served as money.

2. a bank owned and administered by the government, as in some European countries.

national bank

noun

1. (in the US) a commercial bank incorporated under a Federal charter and legally required to be a member of the Federal Reserve System Compare state bank

2. a bank owned and operated by a government

Word History and Origins

Origin of national bank¹

An Americanism dating back to 1780–90