What is the meaning of nonmember bank?

Depository institution that is not a member of the Federal Reserve System. Specifically, a state-chartered commercial bank that has elected not to join the System.

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APABarry Goldsmith. (2010). nonmember bank. Retrieved September 21, 2026, from http://smartdefine.org/nonmember_bank/definitions/1159280
ChicagoBarry Goldsmith. 2010. "nonmember bank" http://smartdefine.org/nonmember_bank/definitions/1159280 (accessed September 21, 2026).
HarvardBarry Goldsmith 2010, nonmember bank, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/nonmember_bank/definitions/1159280>.
MLABarry Goldsmith. "nonmember bank" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/nonmember_bank/definitions/1159280>