banking


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Related to banking: Investment banking, Banking Regulations

banking

the business of receiving deposits from the public or via the financial markets, with the object of on-lending at a higher rate of interest. Sums deposited by customers with bankers become the property of the bank, over which the customer has no further control. In return, the customer obtains a personal right to repayment of the sum deposited on demand. The banker owes a number of duties to his customer, including the duty to encash cheques drawn on the account while in credit or within agreed overdraft limits and the duty to maintain confidentiality. To carry on the business of banking in the UK, authorization is required from the BANK OF ENGLAND. There is a banking code governing the relationship of banker and customer and a Banking Ombudsman to deal with disputes.
References in periodicals archive ?
In the Charlotte-Rock Hill banking market, Wachovia is the second largest depository organization, controlling approximately $24.
This represented 76 percent of the banking fees we paid, or about $3.
Between 2000-2006 banking assets have increased at a very high rate (almost 50% p.
Telephone or computer banking can be another timesaver, if available.
Under the IBA and Regulation K, in acting on an application by a foreign bank to establish a representative office, the Board must consider whether the foreign bank (1) engages directly in the business of banking outside of the United States; (2) has furnished to the Board the information it needs to assess the application adequately; and (3) is subject to comprehensive supervision on a consolidated basis by its home country supervisor (12 U.
What are the regulatory factors involved in Indian banking industry?
This leads to another major problem in the Japanese banking system: lack of adequate disclosure.
The banking sector in CEE stood firmly as a pillar of the countries' economies.
The proposed branch would engage in wholesale banking business focusing on trade finance and lending activities.
Until people get familiar and comfortable with online banking, they need the convenience of banks that are open late and on weekends.
Operational quality is number one in our banking relationships.
Assembling a 10-member board of community leaders, including former Thousand Oaks City Council member Robert Lewis and Larry Janss of the city's pioneer Janss family, Kourounis hopes to resurrect the old-fashioned ideals of community banking.