Bank

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.