日本銀行 is translated as "Bank of Japan".

(1) This would mean that it's a possessive, however no の is used. Is it
omitted?

(2) Then, is it an appositive possessive, meaning 'Japan' identifies 'Bank'?

(3) Or is it one type of nominal apposition which does not have to use の
anyway, which would mean that we could rephrase like this: 銀行は日本です.

2 and 3 would mean that "Bank Japan" would be the correct translation. We see
it in "My friend John", and in German it is common, but I have been told by
English speakers that it is uncommon to follow the "subject" with its name
like this (University NewYork, Island Madagascar).

(4) Or is 日本 a noun adjunct, and it is not identifying the noun 銀行, it's not
its name, therefore no appositive. Just like "Chicken soup", 日本銀行 would be a
compound noun: "Japan-Bank" / "Japan Bank".
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words particles
What is "日本銀行" ("Nippon Ginko")?
The structure of 日本銀行 is not different from that of Chicago Stadium, Brooklyn
Bridge, etc. It's a proper noun, so no の is usually used.

日本の銀行 usually means "bank(s) in Japan". See also: [Why isn't 日本料理 written as
日本の料理?](https://japanese.stackexchange.com/q/27485/5010)

日本 and 銀行 are **not** in apposition. Japan (日本) is not a bank but a country.

> 2 and 3 would mean that "Bank Japan" would be the correct translation.

Why? It's simply "Japan Bank", not "Bank Japan".

"Bank of X" and "X Bank" are two equally valid ways of naming the same thing
in English, but there is basically only one way to name a bank in Japanese,
which is "X銀行".
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