Banks and Banking

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Banks and Banking
The principal types of banking in the modern industrial world are commercial banking and central banking.A commercial banker is a dealer in money and in substitutes for money, such as checks or bills of exchange.
Banks and Banking

Banks and Banking
The banks of the banking business is borrowing from individuals (firms and occasionally governments)- receiving “deposits” from them. With these resources and also with the bank’s own capital, the banker makes loans or extends credit and also invests in securities. The banker makes profit by borrowing at an rate of interest and lending at a higher rate and by charging commissions for services rendered.

Banks and Banking
A bank must always have cash balances on hand in order to pay its depositors upon demand or when the amounts credited to them become due. It must also keep a proportion of its assets in form that can readily be converted into cash. Only in this way can confidence in the banking system be maintained.

Banks and Banking
Provided it honours its promises, a bank can create credit for use by its customers by issuing additional notes or by making new loans which in their turn become new deposits. The amount of credit may considerably exceed the sums available to it in cash, but the bank is able to do this, only as long as the public believes the bank can and will honour its obligations. The claims against the bank can be transferred by means of checks or other negotiable instruments from one party to another.

Banks and Banking
These are the essentials of deposit banking as practiced throughout the world today, with the partial exception of socialist-type institutions.
Another type of banking is carried out by central banks, bankers to governments and “lenders of last resort” to commercial banks and other financial institutions. They are often responsible for formulating and implementing monetary and credit policies, usually in cooperation with the government.

In some cases, the US Federal Reserve System have been established specifically to lead or regulate the banking system; the Bank of England have come to perform these functions through a process of evolution.
Finance companies, savings banks, investments banks, trust companies are often called banks, but they don’t perform the banking functions described and are only financial intermediaries, cannot create money, they can lend no more than savers place with them.

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