Banking Service
A Banking Service is a financial service supports banking tasks (such as money deposits and money payments).
- Context:
- It can range from being a For-Profit Banking Service to being a Non-for-Profit Banking Service.
- It can range from being a Branch-Centric Banking Service to being a Branchless Banking Service.
- It can range from being a Brick-n-Mortar Banking Service to being an e-Banking Service (such as mobile banking).
- It can (typically) be performed by a Banking Worker, such as a banking clerk, a wealth management worker, a compliance worker, and a research analyst worker.
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- Example(s):
- Counter-Example(s):
- See: Financial Intermediary, Deposit Account, Capital Market, Financial System, Bank Regulation, Fractional Reserve Banking, Minimum Capital Requirement.
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/bank Retrieved:2015-2-16.
- A bank is a financial intermediary and money creator that creates money by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed directly by loaning or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking, central banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.
Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had its roots in the ancient world. In the history of banking, a number of banking dynastieshave played a central role over many centuries. The oldest existing retail bank is Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.
- A bank is a financial intermediary and money creator that creates money by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed directly by loaning or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking, central banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.
