What is required for a bank charter?
What is required for a bank charter? Applying for a Bank Charter The proposed bank must first receive approval for a federal or state banking charter. Additional approvals are required from the Federal Reserve if, at formation, a holding company would control the new bank or a state-chartered bank would become a member of the Federal Reserve. What is a national bank charter? Key Takeaways. In the U.S., a national bank is a commercial bank chartered by the U.S. Treasury. Internationally, national banks are controlled by the international governments themselves and are also called "central banks." National banks may facilitate...