banking
bank·ing
B0061800 (băng′kĭng)banking
(ˈbæŋkɪŋ)banking
(ˈbæŋkɪŋ)bank•ing
(ˈbæŋ kɪŋ)n.
Noun | 1. | ![]() |
2. | ![]() |
单词 | banking | ||||||
释义 | bankingbank·ingB0061800 (băng′kĭng)banking(ˈbæŋkɪŋ)banking(ˈbæŋkɪŋ)bank•ing(ˈbæŋ kɪŋ)n.
bankingbank onbank upbank on somethingbank something up(against something)bank onbank onbankingbanking,primarily the business of dealing in money and instruments of credit. Banks were traditionally differentiated from other financial institutions by their principal functions of accepting deposits—subject to withdrawal or transfer by check—and of making loans.Types of BanksBanks have traditionally been distinguished according to their primary functions. Commercial banks, which include national- and state-chartered banks, trust companies, stock savings banks, and industrial banks, have traditionally rendered a wide range of services in addition to their primary functions of making loans and investments and handling demand as well as savings and other time deposits. Mutual savings bankssavings bank, Other Financial InstitutionsTypes of financial institutions that have not traditionally been subject to the supervision of state or federal banking authorities but that perform one or more of the traditional banking functions are savings and loan associationssavings and loan association International BanksThe International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD) General HistoryA simple form of banking was practiced by the ancient temples of Egypt, Babylonia, and Greece, which loaned at high rates of interest the gold and silver deposited for safekeeping. Private banking existed by 600 B.C. and was considerably developed by the Greeks, Romans, and Byzantines. Medieval banking was dominated by the Jews and Levantines because of the strictures of the Christian Church against interestinterest, History in the United StatesEarly Years to the Federal ReserveIn the United States the first bank was the Bank of North America, established (1781) in Philadelphia. Congress chartered the first Bank of the United StatesBank of the United States, Prior to 1838 a bank charter could be obtained only by a specific legislative act, but in that year New York adopted the Free Banking Act, which permitted anyone to engage in banking, upon compliance with certain charter conditions. Free banking spread rapidly to other states, and from 1840 to 1863 all banking business was done by state-chartered institutions. In many Western states it degenerated into "wildcat" banking because of the laxity and abuse of state laws. Bank notes were issued against little or no security, and credit was overexpanded; depressions brought waves of bank failures. In particular, the multiplicity of state bank notes caused great confusion and loss. To correct such conditions, Congress passed (1863) the National Bank Act, which provided for a system of banks to be chartered by the federal government. In 1865, by granting national banks the authority to issue bank notes and by placing a prohibitive tax on state bank notes, an amendment to the act brought all banks under federal supervision. Most banks in existence did take out national charters, but some, being banks of deposit, were unaffected by the tax and continued under their state charters, thus giving rise to what is generally known as the "dual banking system." The number of state banks expanded rapidly with the increasing use of bank checks. Recurrent banking panics caused by overexpansion of credit, inadequate bank reserves, and inelastic currency prompted Congress in 1908 to create the National Monetary Commission to investigate the banking and currency fields and to recommend legislation. Its suggestions were embodied in the Federal Reserve Act (1913), which provided for a central banking organization, the Federal Reserve SystemFederal Reserve System, Further LegislationSince the establishment of the Federal Reserve system, federal banking legislation has been limited largely to detailed amendments to the National Bank and Federal Reserve acts. The Glass-Steagall Act of 1932 and the Banking Act of 1933 together formed an extensive reform measure designed to correct the abuses that had led to numerous bank crises in the years following the stock market crash of 1929. The Glass-Steagall Act prohibited commercial banks from involvement in the securities and insuranceinsurance Deregulation, Bank Failures, and New TechnologySeveral deregulatory moves made by the federal government in the 1980s diminished the distinctions among various financial institutions in the United States. Two major changes were the Depository Institutions Deregulation and Monetary Control Act (1980) and the Depository Institutions Act (1982), which allowed savings and loan associations to engage in often-risky commercial loans and real estate investments, and to receive checking deposits. By 1984, banks had federal support in buying discount brokerage firms, and commercial banks were beginning to acquire failed savings banks; in 1985 interstate banking was declared constitutional. Such deregulation was blamed for the unprecedented number of bank failures among savings and loan associationssavings and loan association Further deregulation occurred in 1999, when Congress overhauled the entire U.S. financial system. Among other actions, the legislation repealed the Glass-Steagall Act, thus allowing banks to enter the insurance and securities businesses. Supporters predicted that the measure would permit U.S. banks to diversify and compete more effectively on an international scale. Opponents warned that this deregulation could lead to failures of many financial institutions, as had occurred with the savings and loans, and many blamed banking deregulation for the financial crisis that began in 2007. Extensive government intervention was required to maintain financial stability, and the crisis nonetheless resulted in an increase in failed and troubled banks, with the number of troubled banks higher than it had been in 15 years by 2009. In the last decades of the 20th cent., computer technology transformed the banking industry. The wide distribution of automated teller machinesautomated teller machine BibliographySee L. Schweikart, ed., Banking and Finance, 1913–1989 (1990); C. J. Woelfel, ed., Encyclopedia of Banking and Finance (10th 1994); C. W. Calomiris and S. H. Haber, Fragile by Design: The Political Origins of Banking Crises and Scarce Credit (2014). Bankinga system of earthen barrier embankments (levees) erected along the shores of rivers, lakes, reservoirs, and seas to protect adjacent areas from intermittent flooding in case of a rise in the water level (high water), and also during high tide and wind-induced water surges. The front of the banking usually consists of a dam (sometimes two rows of dams) situated along the shoreline or around the perimeter of the part of the area to be protected (perimeter banking). Small transverse dams, which divide the protected area into a number of sections, thus localizing the flooding, are built against the possibility of a local rupture of the banking. Steady farming of fertile coastal and floodplain lands (especially along the lower courses of rivers and in river deltas) can only be ensured by the construction of banking. bankingbankingThe placing of something of value in a repository for future withdrawal or retrieval.bankingTo place something of value in a repository for future withdrawal or retrieval. See Sperm banking.bankingbankingthe business of receiving deposits from the public or via the financial markets, with the object of on-lending at a higher rate of interest. Sums deposited by customers with bankers become the property of the bank, over which the customer has no further control. In return, the customer obtains a personal right to repayment of the sum deposited on demand. The banker owes a number of duties to his customer, including the duty to encash cheques drawn on the account while in credit or within agreed overdraft limits and the duty to maintain confidentiality. To carry on the business of banking in the UK, authorization is required from the BANK OF ENGLAND. There is a banking code governing the relationship of banker and customer and a Banking Ombudsman to deal with disputes.BankingBankingSee BKG banking
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