institutionin·sti·tu·tion /ˌɪnstəˈtjuːʃən-ˈtuː-/ noun1[countableC] a large important organizationJapanese institutions are steadily increasing their presence in Europe.
the Royal Institution of Chartered Surveyors
→ depository institution → financial institution2[uncountableU] the introduction of a new system or ruleMost companies are in favour of the institution of a common economic policy.