state bank

noun [C] BANKING, GOVERNMENT

Definition

› a bank that is owned by the government of a country: Millions of savers put their savings in the state banks precisely because the government owns them. The country's private companies are being starved of cash by both the stockmarket and the state banks.

› in the US, a bank that is controlled by the laws of a state rather than by national laws. A state bank does not have to be a member of the Federal Reserve System

→ Compare central bank, national bank

(Definition of state bank noun from the Cambridge Business English Dictionary © Cambridge University Press)