nonbank

noun, often attributive
non·​bank | \ ˌnän-ˈbaŋk How to pronounce nonbank (audio) \

Definition of nonbank

: a business that is not an officially established bank but offers many similar services

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Examples of nonbank in a Sentence

Recent Examples on the Web Six of the 10 biggest U.S. mortgage lenders today are nonbanks, according to the research group. Annamaria Andriotis, WSJ, "The New Mortgage Kings: They’re Not Banks," 6 Sep. 2018 The bank had shied away from riskier leveraged finance amid steeper competition from nonbanks, Donofrio said in October. Bloomberg, latimes.com, "Bank of America warns of possible ‘carnage’ linked to leveraged loans," 4 June 2019 For now bank resilience is mostly based on more and better capital and liquidity, but there has also been a rapid growth in complex ways to shift risk to funds, and in lending by nonbanks. James Mackintosh, WSJ, "Lehman’s Lessons, 10 Years Later," 6 Sep. 2018 NetsUnion, or Wanglian, was set up in 2017 by the People’s Bank of China as an internet payment system for nonbanks, akin to the central bank’s monopoly payment-processing system for banks, known as China UnionPay. Stella Yifan Xie, WSJ, "Mastercard Renews Effort to Enter Chinese Market," 22 Feb. 2019 One of the principal gatekeepers to housing-finance markets is stepping up scrutiny of nonbank mortgage lenders, concerned that some may not have the financial heft needed to overcome stressed conditions. Nick Timiraos, WSJ, "Cooling Housing Market Prompts Closer Scrutiny of Some Lenders," 29 Jan. 2019 Prudential was the last nonbank on the SIFI list, and this week’s decision reflects the Administration’s promise to take a fresh look at the overreach of Dodd-Frank. The Editorial Board, WSJ, "Jack Lew’s Last Defeat," 18 Oct. 2018 Some lenders—particularly nonbanks that don’t have other lines of business —could take on riskier customers to keep up their level of loan volume, or be forced to sell themselves. Christina Rexrode, WSJ, "Mortgage Rates Fast Approaching 5%, a Fresh Blow to Housing Market," 11 Oct. 2018 But nonbanks tend to be more flexible on their underwriting. Christina Rexrode, WSJ, "Retreat of Smaller Lenders Adds to Pressure on Housing," 22 Nov. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'nonbank.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of nonbank

1935, in the meaning defined above

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Time Traveler for nonbank

Time Traveler

The first known use of nonbank was in 1935

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Last Updated

23 Dec 2019

Cite this Entry

“Nonbank.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/nonbank. Accessed 23 January 2020.

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More Definitions for nonbank

nonbank

adjective
non·​bank | \ ˌnän-ˈbaŋk \

Legal Definition of nonbank

: being, done by, or involving some entity other than a bank nonbank lenders a nonbank depositor

Other Words from nonbank

nonbanking adjective

More from Merriam-Webster on nonbank

Rhyming Dictionary: Words that rhyme with nonbank

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