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Banks and Other Financial Institutions Chapter 17-1

Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

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Page 1: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Banks and Other Financial Institutions

Chapter 17-1

Page 2: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

A bank is business just like a store or factory

Sells services such as checking, and payment accounts, savings accounts, loans, and investments.

Banks are regulated more strictly than most other businesses.

The Banking System

Page 3: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Banks for banks Supervises and regulates member banks Helps banks serve the public efficiently US divided into 12 Federal Reserve districts

Federal Reserve System

Page 4: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Holding of reserves Clearing checks in different cities

Federal Reserve Activities

Page 5: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Deposits do not remain idle in banks. When you deposit money in the bank, you

are helping to create jobs and economic growth.

Banking and the Economy

Page 6: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Accept deposits from people and businesses and use them to finance their business.

Commercial Banks – wide range of services

Savings & Loans – savings and loans for home mortgages

Mutual savings banks – owned and operated for the benefit of its depositors.

Credit Unions – user-owned, not-for-profit, cooperative financial institution.

Deposit Institutions

Page 7: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Do not take or hold deposits Life Insurance Company Investment Companies Consumer Finance Companies Mortgage Companies Check-Cashing outlets Pawnshops

Non-Deposit Financial Institutions

Page 8: Chapter 17-1. A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and

Services Safety – FDIC Convenience Fees and Charges Restrictions

Selecting a Financial Institution


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