TYPES OF BANKS

Date: 2015-10-07; view: 504.

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Задание I

Unit 3

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Задание VI

industry, institution, category, potential, problem, group, agency, card, reaction, instrument, operation

Banks' activities can be divided into retail banking, dealing directly with individuals and small businesses; business banking, providing services to mid-market business; corporate banking, directed at large business entities; private banking, providing wealth management services to High Net Worth Individuals and families; and investment banking, relating to activities on the financial markets. Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profits.

Central banks are normally government owned banks, often charged with quasi-regulatory responsibilities, e.g. supervising commercial banks, or controlling the cash interest rate. They generally provide liquidity to the banking system and act as Lender of last resort in event of a crisis.

Commercial bank is the term used for a normal bank to distinguish it from an investment bank. After the Great Depression, the U.S. Congress required that banks only engage in banking activities, whereas investment banks were limited to capital market activities. Since the two no longer have to be under separate ownership, some use the term ‘commercial bank' to refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses.

Community Banks are locally operated financial institutions that empower employees to make local decisions to serve their customers and the partners. Community development banks are regulated banks that provide financial services and credit to under-served markets or populations. Postal savings banks are savings banks associated with national postal systems. Private banks manage the assets of high net worth individuals. Offshore banks are banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks.

Savings bank: in Europe, savings banks take their roots in the 19th or sometimes even 18th century. Their original objective was to provide easily accessible savings products to all strata of the population. In some countries, savings banks were created on public initiative, while in others socially committed individuals created foundations to put in place the necessary infrastructure. Nowadays, European savings banks have kept their focus on retail banking: payments, savings products, credits and insurances for individuals or small and medium-sized enterprises. Apart from this retail focus, they also differ from commercial banks by their broadly decentralised distribution network, providing local and regional outreach and by their socially responsible approach to business and society.

Building societies and Landesbanks conduct retail banking. Ethical banks are banks that prioritize the transparency of all operations and make only what they consider to be socially-responsible investments. Islamic banks are banks that transact according to Islamic principles.