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Banks (go-between for individuals and businesses that have extra…
Banks
(go-between for individuals and businesses that
have extra money and those that wish to borrow money)
Functions
thrift
credit
payment
cash management
underwriting
brokerage
Granting credit
to
overdraw
stipulate the date
interest charge
Loan
Business loan
Line of credit
usually repaid in installme
nts
closed-end line
open-end line
Consumer loan
mortgage loans
real estate as the security
installment credit
regular intervals
loans of reserves
securities dealers
repurchase agreements
federal funds market
Сredit balances
Savings accounts
a time deposit account
an early withdrawal penalty
Transaction accounts
and interest earning checking accounts
NOW accounts
non-interest earning checking
accounts
demand deposit
Bank services
Electronic banking
remote terminal
transactions
automated
teller machine
a point-of-sale (POS)
terminal
telephone transactions
one or two business days
safe deposit box
stored in a vault
unauthorized access is preventedure
family heirlooms
check clearing
payment system
instantaneous transfers
ianywhere in the world
The umbrella term
keep funds working
speed up the payment receipt process
improve profitability
Bank trust divisions
conversion of stocks into debt
retiring the securities
issue proxies and count votes
paying dividends
issue letters of credit
issuing securities