A state bank is generally a

financial institution Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial inst ...

that is chartered by a

federated state A federated state (which may also be referred to as a state, a province, a region, a canton, a land, a governorate, an oblast, an emirate or a country) is a territorial and constitutional community forming part of a federation. Such sta ...

, as opposed to one regulated at the federal or national level. State banks differ from a reserve bank in that it does not necessarily control monetary policy (the state in question may have no legal capacity to create monetary policy), but instead usually offers only retail and commercial services.

United States

In the United States, the terms "state-chartered bank" or "state-chartered savings bank" are used in contradistinction to " national bank" or " federal savings bank", which are technically chartered across all US states. A national bank must have "National" or "N.A." in its corporate name, a Federal Savings Bank must have "Federal" or "F.S.B." in its name, while a state chartered bank cannot have "National" or "Federal" in its name. All national banks and savings institutions are chartered and regulated by the

Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all nat ...

. State banks are chartered and regulated by a state agency (often called the Department of Financial Institutions) in the state in which its headquarters are located. In addition, state banks that are members of the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

are regulated by the Federal Reserve; state banks that are not members of the Federal Reserve are regulated by the

Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cr ...

(FDIC). Therefore, virtually every state chartered bank has both a state and federal regulator. There are a very small number of state banks that do not have FDIC insurance.

Australia

Each

Australian state The states and territories are federated administrative divisions in Australia, ruled by regional governments that constitute the second level of governance between the federal government and local governments. States are self-governing ...

formerly had a state bank, but all have since been privatised. Although the

Commonwealth Bank The Commonwealth Bank of Australia (CBA), or CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States and the United Kingdom. It provides a variety of financial services including retail, busine ...

was to some extent a state bank (although owned by the Federal or national Government and undertaking central bank functions until the split of these functions into the Reserve Bank of Australia in 1959) by the above definition before privatisation, the word ‘state’ in Australia refers predominantly to the subnational entities. * **

Government Savings Bank of New South Wales A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...

: established 1871, collapsed 1931 and taken over by

. **

State Bank of New South Wales The State Bank of New South Wales, from 1933 until 1981 known as the Rural Bank of New South Wales, was a bank that was owned by the Government of New South Wales. It existed from 1933 until 1994, when it was taken over by the Colonial State Ba ...

: established 1933, privatised and sold to

Colonial Mutual The Colonial Mutual Life Assurance Society Limited, later Colonial Limited, and commonly known as Colonial Mutual, Colonial Mutual Life, and/or CML, was a diverse international financial services company headquartered in Melbourne, Australia. ...

in 1994 * ** Queensland Government Savings Bank: established 1865, taken over by Commonwealth Bank of Australia in 1920. * ** Savings Bank of South Australia: established 1848 as a private institution, nationalised in 1945, merged into the State Bank of South Australia in 1984. ** State Bank of South Australia: established 1896, collapsed in 1991, subsequently privatised and rebranded as BankSA. * ** State Savings Bank of Tasmania: established 1902, taken over by Commonwealth Bank in 1913. * ** State Bank of Victoria: established 1842, collapsed in 1991 and sold to the Commonwealth Bank. * ** Bank of Western Australia: established 1895, privatised and sold to

Bank of Scotland The Bank of Scotland plc (Scottish Gaelic: ''Banca na h-Alba'') is a commercial and clearing bank based in Scotland and is part of the Lloyds Banking Group, following the Bank of Scotland's implosion in 2008. The bank was established by th ...

in 1995, now owned by Commonwealth Bank trading as Bankwest ** State Savings Bank of Western Australia: established 1863, taken over by Commonwealth Bank in 1931.

Other entities

State Bank of India State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 49th largest bank in the world by total assets and ranked 221st in the '' Fort ...

(founded as a private commercial bank, then nationalised by the

Government of India The Government of India ( ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...

) * State Bank of Pakistan * State Bank of Vietnam Banking Monetary reform {{Bank-stub