Banks
Banks are financial institutions that provide services such as accepting deposits, making loans, and providing other financial services. Banks are regulated by governments and are typically divided into two categories: commercial banks and investment banks. Commercial banks provide services such as checking and savings accounts, mortgages, and other consumer banking services. Investment banks provide services such as underwriting securities, providing advice on mergers and acquisitions, and providing other services to corporations and governments.
History of Banks
The history of banking dates back to ancient times, when merchants and traders would deposit their money with goldsmiths for safekeeping. The goldsmiths would then issue receipts for the deposits, which could be used as a form of currency. This eventually evolved into the modern banking system, which is regulated by governments and provides a variety of services to individuals and businesses.
Comparison of Banks
| Bank | Services | Interest Rates |
|---|---|---|
| Commercial Bank | Checking and Savings Accounts, Mortgages, Consumer Banking Services | Varies |
| Investment Bank | Underwriting Securities, Mergers and Acquisitions, Corporate and Government Services | Varies |
Summary
Banks are financial institutions that provide services such as accepting deposits, making loans, and providing other financial services. Banks are regulated by governments and are typically divided into two categories: commercial banks and investment banks. Commercial banks provide services such as checking and savings accounts, mortgages, and other consumer banking services. Investment banks provide services such as underwriting securities, providing advice on mergers and acquisitions, and providing other services to corporations and governments. For more information about banks, visit websites such as the Federal Deposit Insurance Corporation (FDIC) and the Consumer Financial Protection Bureau (CFPB).
See Also
- Savings Accounts
- Checking Accounts
- Mortgages
- Underwriting
- Mergers and Acquisitions
- Securities
- FDIC
- CFPB
- Financial Services
- Consumer Banking
