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Issuer:Personal-Finance Credit requirement: A commercial bank's primary liabilities are deposits and primary assets are loans and bonds. As per the U. S. Banking Act of 1971, the "commercial bank" is an institution that offers demand deposits and originates loans. Therefore, a money market mutual fund is not a commercial bank as it does not originate loans. Similarly a finance company is also not a commercial bank as it does not offer demandable deposits. The term "commercial" distinguishes a commercial bank from an investment bank.Its primary liabilities are deposits and primary assets are loans and bonds. As per the U.S. Banking Act of 1971, the "commercial bank" is an institution that offers demand deposits and originates loans.” Therefore, a money market mutual fund is not a commercial bank as it does not originate loans. Similarly a finance company is also not a commercial bank as it does not offer demandable deposits.The term "commercial" distinguishes a commercial bank from an investment bank.Commercial banking activities are different from those of investment banking, which include underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating advices on mergers and other corporate reorganizations like turnovers and acquisitions, and also acting as a broker for institutional clients.Commercial banks are so named because they specialize in loans to commercial and industrial businesses. discover card 0 percent life Commercial banks are owned by private investors like stockholders or by bank holding companies. The majority of commercial banks are owned by bank holding companies. The sole objective of commercial banks is to make a profit. Commercial banks are owned by private investors, called stockholders, or by companies called bank holding companiesApart from other banking functions, since late 20s, most of the commercial banks in developing countries have been entering into micro-finance market discover card 0 percent life also in which they will provide soft loans based on character rather than collaterals to small businesses, small farmers and micro-entrepreneursdiscover card 0 percent life . In this way Commercial banking has become an essential sector of the modern economy by fulfilling the financial needs of all segments of the economy. Apply for Discover card 0 percent life |
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Credit Card Terminology Tidbits
Annual Percentage Rate (APR): This number is a measure of the cost of credit, expressed as a yearly rate. It must be disclosed before you become obligated on the account and on your account statements. Annual Fee: The fee charged for your card on a yearly basis. Depending on issuer some credit card providers may charge an annual fee, typically below the $50 dollar range, nevertheless some choose not to charge any amount. This latter type is called the no annual fee credit card. Balance Transfer Fee: A fee for transferring balances from another card to this card, if any. Debit Card: Payment card whose funds are withdrawn directly from the cardholder's checking account at the time of sale (online debit) or after the batch settlement occurs (off-line debit). Cardholder: Any person who holds a payment card account. Grace period: The number of days you have to pay your bill in full without triggering any finance charges. With most plans, the grace period applies only to purchases; cash advances and balance transfers may start accruing interest immediately.
Transaction Fees and Other Charges: Some issuers charge a fee if you use the card to get a cash advance, make a late payment,
or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
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