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Chapter 8 The Banking Industry

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Louisiana State University
ECON 2035

Chapter 8The Banking Industry 81 Types of Banks Banks split into 2 main categories raise funds by lending out deposits 8 thousand but 30 yrs ago there were 15oCommercial banks1Moneycenter bank commercial banks located in a major financial center that raises funds primarily by borrowing from other banks or by issuing bonds Most common in New York City and CharlotteEx Capital Oneuse funds to make loans and issue credit cardsengage in security underwriting and foreign exchange2Regional bank commercial bank with assets above 1 billion that operates in one geographical region Ex Regions Bank omain source of funds comes front deposits by customers and little from borrowing or issuing bonds Superregional bank commercial bank with assets above 1 billion that operates nationwide across most of the US Ex Bank of America 3Community bank commercial bank with less than 1 billion in assets that operates in a small geographical areastate or small part of state Over 7 thousandrepresent 90 of commercial banks but majority of assets owned bu other types aboveRaises funds from depositors and makes loans to local households and businessesoThrift institution thrifts saving institutions and credit unions Saving institutions type of bank created to accept saving deposits and make loans for home mortgages aka saving banks Ex saving and loan associations SLs Credit union nonprofit bank owned by its depositor members who are drawn from a group of people with something in common small11 thousand in US Small number of assets Tax freeOwned by depositors call members Finance company nonbank financial inst
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