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omeli [17]
2 years ago
15

About two-thirds of all U.S. commercial banks are chartered by the state in which they are based.The banks are called _________

banks.
Business
1 answer:
erastova [34]2 years ago
8 0

Answer:

State.

Explanation:

About two-thirds of all U.S. commercial banks are chartered by the state in which they are based.The banks are called state banks.

A state bank can be defined as any bank that receives or got its charter from a state government but not the federal government of the United States of America. In the United States of America, a state bank reserves the right to either be a member of the Federal Reserve System ("The Fed") or not and as such, can only do business within the state and be regulated by the state where it is operating.

<em>Some examples of state banks in the United States of America are California Bank of Commerce, CalPrivate Bank, United Pacific Bank, Citizens Business Bank etc. </em>

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