(ECONOMICS) A bank that is empowered to issue currency. In the USA, between 1863 (National Bank Act) and 1935, any bank with a federally issued charter (i.e., a national bank) was allowed to issue currency. After 1914, few did.
The US Treasury issued a small number of banknotes until 1971.
In the UK, banknotes of the Bank of England are legal tender; but the Royal Bank of Scotland is also a bank of issue.
Today, in almost every country of the world, the sole bank of issue is the central bank of that country.
The US Treasury issued a small number of banknotes until 1971.
In the UK, banknotes of the Bank of England are legal tender; but the Royal Bank of Scotland is also a bank of issue.
Today, in almost every country of the world, the sole bank of issue is the central bank of that country.
by Abu Yahya May 5, 2010
Get the bank of issuemug. How my man said
by Da Whiz Kid October 15, 2003
Get the lloyd banksmug. Lloyd is the hottest no question.He say" nigga what kind of beef do you want, little kids will find your body in the grass after the easter egg hunt. WHAT!!!!!!!!!!!!!!!!!!!!! some one throw some water on him to cool him down
by Anonymous September 22, 2003
Get the lloyd banksmug. You laughin and dancin, until they stick you have you holdin your chest like im singing the national anthem
by chingy November 6, 2003
Get the Lloyd Banksmug. A nice, large, smooth, and attractive penis.
Note:
Should never be refered to as a "phil banks" or anything other than "phillip banks".
Note:
Should never be refered to as a "phil banks" or anything other than "phillip banks".
by Doug709 January 10, 2006
Get the Phillip Banksmug. 
cockney ryhming slang ( rob a bank = have a wank )
( robbed a bank = had a wank )
( robbing a bank = having a wank )
( robbed a bank = had a wank )
( robbing a bank = having a wank )
by matthew david quick December 9, 2008
Get the Rob a bankmug.