eligible bank
noun[C]
BANKINGukusin the UK, abankthat isapprovedby the Bank ofEnglandtoacceptparticularbillsofexchange(=documentsorderingpaymentforgoodsorservices), which the Bank ofEnglandhasagreedtobuyimmediately:
Most of themajorbanksthatoperatein the City of London are on thelistofeligiblebanksmaintainedby the Bank ofEngland.