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The Banks and Banking Portal

The Bank of England, established in 1694

A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.

Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalised a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. (Full article...)

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Selected banking articles

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A bank card is typically a plastic card issued by a bank to its clients that performs one or more of a number of services that relate to giving the client access to bank account.

Physically, a bank card will usually have the client's name, the issuer's name, and a unique card number printed on it. It will have a magnetic strip on the back enabling various machines to read and access information. Depending on the issuing bank and the preferences of the client, this may allow the card to be used as an ATM card, enabling transactions at automatic teller machines; as debit card, linked to the client's bank account and able to be used for making purchases at the point of sale. (Full article...)
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The CELS ratings or CAMELS rating is a supervisory rating system originally developed in the U.S. to classify a bank's overall condition. It is applied to every bank and credit union in the U.S. and is also implemented outside the U.S. by various banking supervisory regulators.

The ratings are assigned based on a ratio analysis of the financial statements, combined with on-site examinations made by a designated supervisory regulator. In the U.S. these supervisory regulators include the Federal Reserve, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Farm Credit Administration, and the Federal Deposit Insurance Corporation. (Full article...)
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Giro or GIRO may refer to: (Full article...)
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A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a state or formal monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks.

Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. (Full article...)
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The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank of America, JP Morgan, Wells Fargo, and Citigroup—responded by halting their foreclosure proceedings temporarily in some or all states. The foreclosure crisis caused significant investor fear in the U.S. A 2014 study published in the American Journal of Public Health linked the foreclosure crisis to an increase in suicide rates.

One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. (Full article...)
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The 100 point check is a personal identification system adopted by the Australian Government to combat financial transaction fraud by individuals and companies, enacted by the Financial Transactions Reports Act (1988) (FTR Act), which established the Australian Transaction Reports and Analysis Centre (AUSTRAC) and which continued in existence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

The 100 point system applies to individuals opening new financial accounts in Australia, including bank accounts or betting accounts. Points are allocated to the types of documentary proof of identity that the person can produce, and they must have at least 100 points of identification to be able to operate an account. The system now also applies to the establishment of a number of official identity documents, such as an Australian passport and driving licence. (Full article...)
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Islamic banking, Islamic finance (Arabic: مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include Mudarabah (profit-sharing and loss-bearing), Wadiah (safekeeping), Musharaka (joint venture), Murabahah (cost-plus), and Ijara (leasing).

Sharia prohibits riba, or usury, defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to riba). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also haram ("sinful and prohibited"). (Full article...)
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An industrial loan company (ILC) or industrial bank is a financial institution in the United States that lends money, and may be owned by non-financial institutions. They provide niche financial services nationwide. ILCs offer FDIC-insured deposits and are subject to FDIC and state regulator oversight. All "FDIC-insured entities are subject to Sections 23A and 23B of the Federal Reserve Act, which limits bank transactions with affiliates, including the non-bank parent company." ILCs are permitted to have branches in multiple states (which is permitted by many states on a reciprocal basis). They are regulated and supervised by state-charters and insured by the Federal Deposit Insurance Corporation. They are authorized to make consumer and commercial loans and accept federally insured deposits. Banks may not accept demand deposits if the bank has total assets greater than $100 million. ILCs are exempted from the Bank Holding Company Act.

ILCs assist numerous charities and provide millions of dollars annually in grants, low interest loans, and service through the Community Reinvestment Act (CRA). Currently, only seven states offer an ILC bank charter. Most ILCs have been chartered by the Utah Department of Financial Institutions. Other states permitting ILCs include California, Colorado, Minnesota, Indiana, Hawaii, and Nevada. (Full article...)
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Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account. These payments are typically executed electronically as a direct deposit through a national payment system, operated by the banks or in conjunction with the government. Payment is typically initiated by the payer but can also be set up as a direct debit.

In addition to the bill payment facility, most banks will also offer various features with their electronic bill payment systems. These include the ability to schedule payments in advance to be made on a specified date (convenient for installments such as mortgage and support payments), to save the biller information for reuse at a future time and various options for searching the recent payment history. In many cases the payment data can also be downloaded and posted directly into the customer's accounting or personal finance software. (Full article...)
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Private banks are banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

These banks have a long tradition in Switzerland, dating back to at least the Revocation of the Edict of Nantes (1685). Private banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672. (Full article...)

Selected banks

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Royal Bank of Canada (RBC; French: Banque royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 17 million clients and has more than 89,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains a corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.

In Canada, the bank's personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale in French and serves approximately 10 million clients through its network of 1,209 branches. RBC Bank is a US banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States, but now only offers cross-border banking services to Canadian travellers and expats. RBC's other US subsidiary City National Bank operates 79 branches across 11 US states. RBC also has 127 branches across seventeen countries in the Caribbean, which serve more than 16 million clients. RBC Capital Markets is RBC's worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are also provided through RBC Bank and the focus is on middle market clients. (Full article...)
The Chase Tower (formerly the Bank One Plaza) housed the Bank One headquarters
Chemical's logo, adopted from Manufacturers Hanover after the banks' merger

Did you know...

... that the owner of the Solow Building tried to evict the Bank of America under a law normally used for evicting drug dealers and prostitutes?
... that the historic facade of Henry Miller's Theatre is preserved at the base of the Bank of America Tower, while the theater's interior was rebuilt underground?
... that after Haier bought the Greenwich Savings Bank Building, it turned the large banking hall into a showroom for refrigerators and air conditioners?
... that a special legislative session to deal with the Real Estate Bank of Arkansas was not called because a third of the legislature owed money to the bank?
... that Bank of England governor Andrew Bailey said that about 80% of the causes driving the ongoing UK cost of living crisis are global?
... that Kolkata's Currency Building has housed the Agra Bank, an office for the issue and exchange of currency, the Reserve Bank of India, and a public art museum?
... that Bray Hammond condemned the U.S. Supreme Court's ruling in Briscoe v. Bank of Kentucky, decided 185 years ago today, as "about as weak and timid as any the Court ever pronounced"?
... that the Bank of England has a device to prevent unwanted deposits?

Related portals

Selected images

Image 1Carved sign for The Standard Bank of Canada, in Brechin, Ontario. (from Standard Bank of Canada)
Image 2A branch of Union Bank in, Visakhapatnam (from Bank)
Image 3OTP Bank in Prešov (Slovakia) (from Bank)
Image 4Bank of Finland strong box which moved to Helsinki with the bank when it relocated from Turku. (from Bank of Finland)
Image 5An American bank in Maryland. (from Bank)
Image 6Branch of Nepal Bank in Pokhara, Western Nepal. (from Bank)
Image 7An illustration of Northern National Bank as advertised in a 1921 book highlighting the opportunities available in Toledo, Ohio (from Bank)
Image 8The BANK of Greenland, Nuuk (from Bank)
Image 9Interior of the Helsinki Branch of the Vyborg-Bank [fi] in the 1910s (from Bank)
Image 10The HSBC Canada Building in Vancouver houses the headquarters for HSBC's Canadian subsidiary (from HSBC Bank Canada)
Image 11Suburban bank branch (from Bank)
Image 12Standard Bank of Canada branch in Brechin, Ontario. Empty as of 2014, the building was later used as a Canadian Imperial Bank of Commerce branch, until they moved to the other side of the street. (from Standard Bank of Canada)
Image 13Sealing of the Bank of England Charter (1694), by Lady Jane Lindsay, 1905. (from Bank)
Image 14AMRO Bank (from AMRO Bank)
Image 15Banco de Venezuela in Coro. (from Bank)
Image 16An office of Nordea bank in Mariehamn, Åland (from Bank)
Image 17Bank of Commerce in Regina, 1910 (from Canadian Bank of Commerce)
Image 18The Bank of England, established in 1694 (from Bank)
Image 19An interior of a branch of National Westminster Bank on Castle Street, Liverpool (from Bank)
Image 20This 15th-century painting depicts money-dealers at a banca (bench) during the Cleansing of the Temple. (from Bank)
Image 21Large door to an old bank vault. (from Bank)
Image 22Global headquarters of the Bank for International Settlements in Basel (from Bank)
Image 23Branch of the Standard Bank of Canada in Markham, Ontario, shown in 1912. (from Standard Bank of Canada)
Image 24An HSBC Bank Canada branch in Toronto, 2008 (from HSBC Bank Canada)
Image 25The Bank of Finland, Helsinki, with the statue of Johan Vilhelm Snellman by sculptor Emil Wikström in front (from Bank of Finland)
Image 26Citibank, The People's Trust Company Building, Brooklyn, New York City. (from Bank)
Image 27National Copper Bank, Salt Lake City 1911 (from Bank)
Image 28ATM Al-Rajhi Bank (from Bank)
Image 29An AMRO bank in 1973 (from AMRO Bank)
Image 30The Bank of Finland's head office in Helsinki (from Bank of Finland)
Image 31An HSBC Bank Canada branch in Richmond Hill, Ontario, 2014 (from HSBC Bank Canada)
Image 32SEB main building in Tallinn, Estonia (from Bank)
Image 33A Banco do Brasil office in São Paulo, Brazil, the bank is the largest financial institution in Brazil and Latin America. (from Bank)
Image 34Safra National Bank, New York (from Bank)
Image 35National Bank of the Republic, Salt Lake City 1908 (from Bank)
Image 36A former building society, now a modern retail bank in Leeds, West Yorkshire. (from Bank)