It is necessary to know for economists. Banks -
financial institutions that offer the widest range of
financial services – especially credit, savings and payment
services and perform the widest range of financial functions of
any business firm in the economy.
Affiliated bank -
bank whose stock has been acquainted by a bank
holding company.
Bankers’ bank -
groups of banks that are given a legal permit to create
regional service firms in order to facilitate the delivery of certain
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customer services, such as rapid transfer and investment of customer
funds and the execution of orders to buy or sell securities.