(ECONOMICS) A bank that is empowered to issue money. In the USA, between 1863 (nationwide Bank Act) and 1935, any bank with a federally issued charter (i.e., a national lender) had been allowed to issue money. After 1914, few did.The United States Treasury issued only a few banknotes until 1971.In the UK, banknotes for the Bank of England tend to be legal tender; however the Royal Bank of Scotland can also be a bank of concern.Today, in almost every nation worldwide, the only real bank of problem is the main bank of that country.
One authorized by law to issue unique notes intended to circulate as monev. Bank v. Gruber, 87 Pa. 471, 30 Was. Rep. 378.