A commercial bank approved by the U.S. Comptroller of the Currency, which is required to be a member of and purchase stocks in the Federal Reserve System. Bloomberg Financial Dictionary
* * *
* * *
national bank UK US noun [C] BANKING
► CENTRAL BANK(Cf. ↑central bank)
► in the US, a private bank that is a member of the Federal Reserve System and provides its services to people and businesses: »
The biggest national banks charged the highest fees, according to the report.
Financial and business terms. 2012.