Bank: Difference between revisions
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A '''Bank''' is a [[Finance and investment|financial]] institution that provides [[banking]] services. By the term ''Bank'' is generally understood an institution that holds a [[Banking license|banking license]]. Under most jurisdictions a banking license provides the right to conduct the most fundamental banking services such as accepting deposits and making loans. There are also financial institutions that provides certain banking services with out meeting the legal definition of a bank, a so called [[Non-Bank|Non-Bank Bank]]. |
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The word '''bank''' is derived from Italian ''banca,'' a bench. A bank is an institution for economic and monetary transactions, which practices [[banking]]. |
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The word ''bank'' is derived from the [[Italian language|Italian]] ''banca,'' which means bench. The term [[bancrupt]] is similarly derrived from ''banca rotta'', which refers to an out of business bank, having its bench physically broken. |
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There are also many special types of banks: [[central bank]], [[merchant bank]], [[savings bank]], [[investment bank]]. |
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== Bank types == |
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See also [[currency]], [[economics]], [[macroeconomics]], [[money]], [[finance]], [[List of banks]]. |
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There several different types of banks. Some basic types are: |
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*[[Central bank]]s |
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*[[Investment bank]]s |
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*[[Merchant bank]]s |
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*[[Savings bank]]s |
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There are many different subtypes, which often are created by the different legal requirements in different countries. |
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''See also:'' [[List of banks]], [[Money]], [[Currency]], [[Economics]] |
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Revision as of 13:25, 10 March 2003
A Bank is a financial institution that provides banking services. By the term Bank is generally understood an institution that holds a banking license. Under most jurisdictions a banking license provides the right to conduct the most fundamental banking services such as accepting deposits and making loans. There are also financial institutions that provides certain banking services with out meeting the legal definition of a bank, a so called Non-Bank Bank.
The word bank is derived from the Italian banca, which means bench. The term bancrupt is similarly derrived from banca rotta, which refers to an out of business bank, having its bench physically broken.
Bank types
There several different types of banks. Some basic types are:
There are many different subtypes, which often are created by the different legal requirements in different countries.
See also: List of banks, Money, Currency, Economics