bank located in a major financial center that participates in both national and international money markets. Money center banks offer regional banks and community banks access to master trust, foreign exchange, and depository services, as well as check clearings, through correspondent banking networks. Money center banks are found mainly in New York, Chicago, and San Francisco, and also in London and other world financial centers.
one of the largest banks in one of the major financial centers of the world, among them New York, Chicago, San Francisco, Los Angeles, London, Paris, and Tokyo. These banks have major national and international influence.
bank in one of the major financial centers of the world, among them New York, Chicago, San Francisco, Los Angeles, London, Paris, and Tokyo. These banks play a major national and international economic role because they are large lenders, depositories, and buyers of money market instruments and securities as well as large lenders to international governments and corporations. In the stock market, bank analysts usually categorize the money center banks as separate from regional banks-those that focus on one area of the country. Also known as money market bank.
