| 单词 | bank |
| 释义 | bank A financial institution whose main activities are borrowing and lending money. Banks borrow by accepting special deposits from the general public or other financial institutions. Bank loans are an important source of finance for firms, consumers and government. commercial bank may be all-purpose, or may specialize. Investment banks specialize on loans to firms; merchant banks on financing capital market transactions and international trade; and savings banks on collecting and lending the savings of numerous, mostly small-scale, savers. bank account are held by individuals and firms to conduct their transactions, either by providing cash when it is needed or by transferring balances to other people as ordered by cheques, direct debits or electronic transfers. If banks become unable to provide their customers with their money when it is needed, this causes great loss and inconvenience. A bank run occurs if the customers of a bank lose confidence in it and all try to withdraw their money. To avoid this danger, most countries have public bodies which supervise banks, to prevent their getting into difficulties, and central bank to rescue them if they do. In the US the central bank is the Federal Reserve; in France the Banque de France; and in the UK the Bank of England. Bank rate, now abolished, was the special discount rate applied by the Bank of England to high-class borrowers. There are also international banks. The World Bank, or International Bank for Reconstruction and Development (IBRD) is an investment bank at the international level. The nearest international equivalent to a central bank is the International Monetary Fund (IMF). The European Central Bank is part of the European Monetary System (EMS). The European Bank for Reconstruction and Development (EBRD) is a European investment bank, like the World Bank at a European level. See also: central bank, clearing bank, commercial bank, investment bank, joint-stock bank, member bank, merchant bank, and overseas bank |
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