BANKS Meaning and
Definition
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Banks are financial institutions that play a vital role in the economy by facilitating the flow of money in the form of deposits, loans, and various financial services. They serve as intermediaries between individuals, businesses, and governments to manage the financial transactions in a safe and efficient manner.
Banks offer a wide range of services, including accepting deposits from customers such as individuals and businesses. These deposits can be in the form of savings accounts, checking accounts, or time deposits like certificates of deposit (CDs). Banks use these deposits to fund their lending activities.
Lending is another critical function of banks. They provide loans to individuals and businesses for various purposes, such as purchasing a home or a car, expanding a business, or investing in infrastructure projects. Banks earn interest on these loans, which helps generate revenue.
In addition to deposits and lending, banks provide various financial services. They offer payment services, such as issuing debit and credit cards, facilitating electronic fund transfers, and enabling online and mobile banking. Banks also provide investment and wealth management services, including offering investment products like mutual funds and helping customers with retirement planning.
Furthermore, banks play a significant role in the creation of money through the fractional reserve banking system. They are required to hold a fraction of their deposits as reserves while lending out the remainder. This process enables banks to create credit and increase the money supply in the economy, thereby stimulating economic growth.
Overall, banks serve as integral pillars of the financial system, promoting economic stability and growth by facilitating financial transactions, providing credit, and offering a range of financial services to individuals, businesses, and governments.
Top Common Misspellings for BANKS *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for BANKS
Etymology of BANKS
The word "banks" has multiple etymological origins depending on its specific context. Here are some common origins for this word:
1. As a noun referring to the financial institutions: The word "bank" comes from the Middle English word "banke", which itself was derived from the Old Italian word "banca", meaning a bench or counter. This is likely because in medieval Europe, moneylenders and money changers conducted their business on benches or counters.
2. As a noun referring to the natural landscape feature: The word "bank" as a sloping raised land alongside rivers or water bodies comes from the Old Norse word "bakki", meaning "river bank" or "hillside". This term was borrowed into Old English as "banc" and eventually evolved into the word "bank".
Similar spelling words for BANKS
- bannock,
- banas,
- baynes,
- bangs,
- banish,
- bankia,
- banes,
- bank,
- banshee,
- baines,
- banns,
- BAINS,
- banksia.
Conjugate verb Banks
CONDITIONAL
I
would bank
we
would bank
you
would bank
he/she/it
would bank
they
would bank
FUTURE
I
will bank
we
will bank
you
will bank
he/she/it
will bank
they
will bank
FUTURE PERFECT
I
will have banked
we
will have banked
you
will have banked
he/she/it
will have banked
they
will have banked
PAST
I
banked
we
banked
you
banked
he/she/it
banked
they
banked
PAST PERFECT
I
had banked
we
had banked
you
had banked
he/she/it
had banked
they
had banked
PRESENT
I
bank
we
bank
you
bank
he/she/it
banks
they
bank
PRESENT PERFECT
I
have banked
we
have banked
you
have banked
he/she/it
has banked
they
have banked
I
am banking
we
are banking
you
are banking
he/she/it
is banking
they
are banking
I
was banking
we
were banking
you
were banking
he/she/it
was banking
they
were banking
I
will be banking
we
will be banking
you
will be banking
he/she/it
will be banking
they
will be banking
I
have been banking
we
have been banking
you
have been banking
he/she/it
has been banking
they
have been banking
I
had been banking
we
had been banking
you
had been banking
he/she/it
had been banking
they
had been banking
I
will have been banking
we
will have been banking
you
will have been banking
he/she/it
will have been banking
they
will have been banking
I
would have banked
we
would have banked
you
would have banked
he/she/it
would have banked
they
would have banked
I
would be banking
we
would be banking
you
would be banking
he/she/it
would be banking
they
would be banking
I
would have been banking
we
would have been banking
you
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he/she/it
would have been banking
they
would have been banking
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