Safeguarding, transferring, lending and exchanging money
What are the functions of banks?
100
People who put money into banks
What are depositors?
100
Financial institutions that get funds from the public and use them to finance their business
What are depository intermediaries?
100
Occurs when one or more banks join or acquire another bank or banks
What is a merger?
200
An agreed-upon system for measuring the value of goods and services
What is a medium of exchange?
200
Customer with a good credit rating, sufficient collateral for loans, and ongoing income
What is creditworthy?
200
A percentage of revenue earned on the principal (original amount) over a period of time
What is interest?
200
Financial institutions that do not take or hold deposits?
What are non-depository intermediaries?
200
What is left of revenue after costs are deducted
What is profit?
300
An institution, firm, or individual who mediates between two or more parties in a financial context
What is financial intermediary?
300
Moving money between banks, banks and individual customers, between banks and industry, and between banks and goevernment
What is transferring funds?
300
The difference between what a bank pays in interest and what it receives in interest
What is the spread/ net interest income?
300
Financial institution that receives deposits primarily from individuals and concentrate on private real estate mortages
What is a mutual savings bank?
300
A credit, debit, or other type of card embedded with a microchip
What is a smart card?
400
Institution commonly thought of as banks
What is a commercial bank?
400
When someone achieves financial gain by using another person's personal information to unlawfully assume the identity of the other person
What is identity theft?
400
Anything that can readily be exchanged, like cash
What is a liquid asset?
400
A commercial bank specializing in business accounts
What is a wholesale bank?
400
The most common type/form of loan
What is a credit card?
500
Mergers, technology, and competition
What are three factors in modern banking that have chaged the industry?
500
This act makes up MOST of banks' business
What is lending?
500
A cash obligation
What is a liability?
500
Savings and loan institution owned by depositors who share a common type of association, such as an employer
What is a credit union?
500
The income generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of an organization before any costs or expenses are deducted.