Bank is a legal entity, one of the principal financial institutions that for the conduct of its activities requires a banking license. Activity and the existence of banks is regulated by the state and they are subject to banking supervision. Banks are part of the financial sector.
A wide range of financial services are the subject of bank’s activities:
- Acceptance of deposits from the public
- Providing credit
- Investing in securities on own account
- Financial leasing
- Payment and Settlement
- Issuing and managing means of payment such as credit cards and travelers checks
- Provision of guarantees
- Opening letters of credit
- Collection services
- Provision of investment services
- Financial brokerage
- Depository
- Foreign exchange service
- Providing banking information
- Trading for own account or on behalf of a client in foreign exchange and gold
- Rental of safe deposit boxes
The national (central) banks have a special position among banks.
Comments
You cannot contribute to the discussion because it is locked