Banking refers to the financial services provided by institutions, known as banks, which facilitate the management of money and financial transactions. It encompasses a range of activities, including accepting deposits, extending loans, offering investment products, and providing payment and clearing services. Banks serve both individual consumers and businesses, playing a crucial role in the economy by promoting liquidity, credit availability, and financial stability.
There are various types of banking, such as retail banking, which caters to individual customers; commercial banking, which serves businesses; investment banking, which focuses on large-scale financial transactions; and central banking, which manages a nation’s currency, money supply, and interest rates. Banking operations are essential for the functioning of the economy, as they enable the movement of money, the creation of credit, and the facilitation of other financial services. Regulatory frameworks govern banking to ensure the protection of depositors, the stability of the financial system, and adherence to ethical standards.
**Important Notification on Account Status** Detected irregularities on your TipRanks account might be putting your access at risk. If you've noticed unexpected activity, it can lead to restrictions on your…