Jul
7
Types of Bank
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Central bank: A central bank or reserve bank is the authority or entity responsible for the monetary policy of a country or states.
Advising bank: An advising bank advises a beneficiary or offshore exporter that a letter of credit (L/C) opened by an issuing bank for an applicant who is importing goods and informs the beneficiary about the terms and conditions of the L/C.
Commercial bank: A commercial bank is a financial bank. U.S. Congress required banks only engage in banking activities, whereas investment banks were limited to capital market activities.
Community development bank: Community development banks are designed to serve residents and spur economic development in lows to moderate-income geographical areas.
Custodian bank: a custodian bank refers to a financial institution responsible for safeguarding a business or individual’s financial assets. The role of a custodian banks are 1) to hold in safekeeping assets, bonds, 2) arrange settlement of any purchases and sales of such securities, 3) collect information on and income from such assets, provide information on the underlying companies and their annual general meetings, manage financial transactions. Custodian banks are often referred to as global custodians if they hold assets for their clients in multiple jurisdictions around the world, using their own local branches or other local custodian banks in each market to hold accounts for their underlying clients.
Depository bank: A depository bank organized in the United States provides all the stock transfer, agency services in connection with a depository receipt program, arranging for a custodian to accept deposits of ordinary shares, maintaining the register of holders to reflect all transfers and exchanges, issuing the negotiable receipts which back up the shares and distributing dividends in U.S. dollars.
Investment bank: Investment banks help companies raise money by issuing and selling securities in the capital markets as well as providing advice on transactions, mergers and acquisitions.
Merchant bank: A merchant bank is a financial institution engaged in international finance and long term financial loans for multinational corporations and governments.
Mutual bank.
Mutual savings bank: A mutual savings bank is a financial bank or financial institution chartered through a state or federal government to provide a safe place for individuals to save and invest those savings in mortgages, loans, stocks, Bonds and securities.
National bank: National bank is a bank owned by the state, or an ordinary private bank which operates nationally in the USA a national bank is an ordinary private bank operating within a specific regulatory structure.
Offshore bank: An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction.
Private bank: Private banks are banks that are not incorporated, owned by either an individual or a general partner(s) with limited partner(s).
Swiss bank: Banking in Swiss bank is characterized by stability, privacy, protection of financial assets and information.
If you need more information about Central bank, Advising bank, Commercial bank, Community development bank, Custodian bank, Depository bank, Investment bank, Islamic banking, Merchant bank, Mutual bank, Mutual savings bank, National bank, Offshore bank, Private bank and Swiss bank please visit http://www.offshorebank.com
