Banking is an industry that handles cash, praise, and other financial dealings. Banks deliver a safe place to stock extra cash and credit.
They offer savings accounts, diplomas of deposit, and checking accounts. Banks use these credits to make loans. These advances include home mortgages, business loans, and car loans.
Banking is one of the key drivers of the U.S. economy. It provides the liquidity needed for families and industries to invest in the future.
Bank loans and credit mean relations don’t have to but up before going to college or ordering a house.
Businesses use loans to start hiring immediately to build for future demand and expansion.
The set of existing banks in the economic system makes up the banking or banking system. Having said all this, there are different types of bank depending on the sector to which this entity is directed and the size of its action. There are two types of banking:
Retail banking: the most common in simple operations for individuals and companies. In turn, it is divided into:
Private: financial advice, investment funds, etc.
From individuals: demand accounts, deposits, receipts and payroll, mortgages, credits, etc.
Wholesale banking: aimed at large volumes of money from important economic operations. It also divides into two segments:
Investment: financial structures, mergers and acquisitions (M&A), advice, etc.
For companies: Liability management (credit lines, factoring or confirming), fixed asset management (loans, leasing, renting, etc.).
Taking into account different classification criteria, it is also possible to classify banks into other classes:
Due to the origin of the property of each organization or banking entity, there would be:
Taking into account the type of operations that comprise it, we find:
Depending on their area of action, there are:
A large number of entities or corporations that make up the banking system is known as banking. They carry out their specific work of raising finance and granting resource loans in the economic and financial market.
And also, the main purpose and explanation of this sector’s existence is the need for certain organizations to be in charge of carrying out financial intermediation operations. In this way, money can move from one place to another, adjusting to certain risks and deadlines set by economic reality.
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