ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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commercial banks
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savings and loans
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credit unions
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None of the above
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Detailed explanation-1: -What Is a Commercial Bank? The term “commercial bank” refers to a financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
Detailed explanation-2: -Commercial banks provide services for small businesses and consumers and offer services for everyday banking needs; investment banks provide financial services for institutional investors and larger enterprises.
Detailed explanation-3: -Commercial Banks A financial institution that engages in various financial services, such as accepting deposits and making loans.
Detailed explanation-4: -Accepting money on various types of Deposit accounts. Lending money by overdraft, and loans both secured and unsecured. Providing transaction accounts. Cash management. Treasury management. Private equity financing. Issuing Bank drafts and Bank cheques. More items