Found 1 items, similar to Bank credit.
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Definition: Bank credit
(kr[e^]d"[i^]t), n. [F. cr['e]dit (cf. It.
credito), L. creditum loan, prop. neut. of creditus, p. p. of
credere to trust, loan, believe. See Creed
1. Reliance on the truth of something said or done; belief;
faith; trust; confidence.
When Jonathan and the people heard these words they
gave no credit unto them, nor received them. --1
Macc. x. 46.
2. Reputation derived from the confidence of others; esteem;
honor; good name; estimation.
John Gilpin was a citizen
Of credit and renown. --Cowper.
3. A ground of, or title to, belief or confidence; authority
derived from character or reputation.
The things which we properly believe, be only such
as are received on the credit of divine testimony.
4. That which tends to procure, or add to, reputation or
esteem; an honor.
I published, because I was told I might please such
as it was a credit to please. --Pope.
5. Influence derived from the good opinion, confidence, or
favor of others; interest.
Having credit enough with his master to provide for
his own interest. --Clarendon.
6. (Com.) Trust given or received; expectation of future
playment for property transferred, or of fulfillment or
promises given; mercantile reputation entitling one to be
trusted; -- applied to individuals, corporations,
communities, or nations; as, to buy goods on credit.
Credit is nothing but the expectation of money,
within some limited time. --Locke.
7. The time given for payment for lands or goods sold on
trust; as, a long credit or a short credit.
8. (Bookkeeping) The side of an account on which are entered
all items reckoned as values received from the party or
the category named at the head of the account; also, any
one, or the sum, of these items; -- the opposite of
; as, this sum is carried to one's credit, and that
to his debit; A has several credits on the books of B.
, or Cash credit
. See under Cash
Bill of credit
. See under Bill
Letter of credit
, a letter or notification addressed by a
banker to his correspondent, informing him that the person
named therein is entitled to draw a certain sum of money;
when addressed to several different correspondents, or
when the money can be drawn in fractional sums in several
different places, it is called a circular letter of credit
(a) The reputation of, or general confidence in, the
ability or readiness of a government to fulfill its
(b) The ability and fidelity of merchants or others who
owe largely in a community.
He touched the dead corpse of Public Credit, and
it sprung upon its feet. --D. Webster.
, n. [F. banque, It. banca, orig. bench, table,
counter, of German origin, and akin to E. bench; cf. G. bank
bench, OHG. banch. See Bench
, and cf. Banco
1. An establishment for the custody, loan, exchange, or
issue, of money, and for facilitating the transmission of
funds by drafts or bills of exchange; an institution
incorporated for performing one or more of such functions,
or the stockholders (or their representatives, the
directors), acting in their corporate capacity.
2. The building or office used for banking purposes.
3. A fund to be used in transacting business, especially a
joint stock or capital.
Let it be no bank or common stock, but every man be
master of his own money. --Bacon.
4. (Gaming) The sum of money or the checks which the dealer
or banker has as a fund, from which to draw his stakes and
pay his losses.
5. In certain games, as dominos, a fund of pieces from which
the players are allowed to draw; in Monopoly, the fund of
money used to pay bonuses due to the players, or to which
they pay fines.
[1913 Webster +PJC]
6. a place where something is stored and held available for
future use; specifically, an organization that stores
biological products for medical needs; as, a blood bank,
an organ bank, a sperm bank.
, a credit by which a person who has given the
required security to a bank has liberty to draw to a
certain extent agreed upon.
Bank of deposit
, a bank which receives money for safe
Bank of issue
, a bank which issues its own notes payable to