| 单词 | banking |
| 释义 | banking The provision of payments facilities, credit and capital to individuals, firms and the government. Retail banking is the provision of payments, savings and credit facilities in relatively small quantities to large numbers of individual or small business customers. Investment banking is the provision of credit and capital in larger quantities to relatively large businesses. Universal banking combines these functions in the same banks, as for example in European countries including Germany. In the US and the UK the functions are largely separate: in the US through the Glass-Steagal Act of 1933, and in the UK through voluntary choice by the banks. The argument against universal banking is that mistaken investments may impair the solvency of banks responsible for the payments system. Modern banking is increasingly adding further functions, including stockbroking and portfolio management, mortgage finance, and insurance to these traditional activities. See also: branch banking, fractional reserve banking, relationship banking, retail banking, and wholesale banking |
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