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A commercial bank is a type of financial intermediary and a type of bank.
Commercial bank has two possible meanings:
Commercial bank is the term used for a normal bank to distinguish it from an
investment bank. This is what people normally call a "bank". The term
"commercial" was used to distinguish it from an investment bank. Since the two
types of banks no longer have to be separate companies, some have used the term
"commercial bank" to refer to banks which focus mainly on companies. In some
English-speaking countries outside North America, the term "trading bank" was
and is used to denote a commercial bank. After the great depression and the
stock market crash of 1929, the U.S. Congress passed the Glass-Steagal Act 1930
(Khambata 1996) requiring that commercial banks only engage in banking
activities (accepting deposits and making loans, as well as other fee based
services), whereas investment banks were limited to capital markets activities.
This separation is no longer mandatory.
It raises funds by collecting deposits from businesses and consumers via
checkable deposits, savings deposits, and time (or term) deposits. It makes
loans to businesses and consumers. It also buys corporate bonds and government
bonds. Its primary liabilities are deposits and primary assets are loans and
bonds.
Commercial banking can also refer to a bank or a division of a bank that mostly
deals with deposits and loans from corporations or large businesses, as opposed
to normal individual members of the public (retail banking).
United States Banking began in 1781 with an act of United States Congress that
established the Bank of North America in Philadelphia. During the American
Revolutionary War, the Bank of North America was given a monopoly on currency;
prior to this time, private banks printed their own bank notes, backed by
deposits of gold and/or silver.
Robert Morris, the first Superintendent of Finance appointed under the Articles
of Confederation, proposed the Bank of North America as a commercial bank that
would act as fiscal agent for the government. The monopoly was seen as necessary
because previous attempts to finance the Revolutionary War with paper currency
had failed; after the war, a number of banks were chartered by the states under
the Articles of Confederation, including the Bank of New York and the Bank of
Massachusetts, both of which were chartered in 1784.
The Bank of North America was succeeded by the First Bank of the United States,
which the United States Congress chartered in 1791 under Article One, Section 8
of the United States Constitution, after the Constitution replaced the Articles
of Confederation as the foundation of American government. However, Congress
failed to renew the charter for the Bank of the United States, which expired in
1811. Similarly, the Second Bank of the United States was chartered in 1816 and
shuttered in 1836.
The era of free banking
Prior to 1836, a bank could only be chartered by a legislative act.[citation
needed] It has been speculated that this led to many abuses, with proprietors
lacking connections in their legislatures being effectively barred from
establishing banks. [citation needed]The dissoluting of the Second Bank of the
United States in 1836 lead 18 states to establish clear rules for incorporation
-- any individual or group that met a certain financial requirement was
permitted to issue bills of credit.[citation needed]
This led to many a period of fiscally irresponsible Wildcat banking in many
states, which partially destabilized the system of financial intermediation, and
lead in part to the massive panic in 1837-1838 in Michigan.
During this period, bills were not redeemable at face value, but could be cashed
according to certain common discount rates, which reflected the reputation and
solvency of the issuing banks.[citation needed] These bills were commonly called
"scrip."
The dual banking system
In 1863, Congress passed the National Bank Act in an attempt to retire the
greenbacks that it had issued to finance the North's effort in the American
Civil War. This opened up an option for chartering banks nationally. As an
additional incentive for banks to submit to Federal supervision, in 1865
Congress began taxing any issue of state bank notes (also called "bills of
credit" or "scrip") a standard rate of 10%, which encouraged many state banks to
become national ones. This tax also gave rise to another response by state banks
-- the invention of the demand deposit account, also known as a checking
account. By the 1880s, deposit accounts had changed the primary source of
revenue for many banks. The result of these events is what is known as the "dual
banking system."
The dual system of banking has survived to this day.[citation needed] New banks
may choose either state or national charters (a bank also can convert its
charter from one to the other). Until 1989, banks with national charters
(national banks) were required to participate in the FDIC, while State Banks
either were required to obtain FDIC insurance by state law or they could
voluntarily join it (usually in an attempt to bolster their appearance of
solvency). After enactment of the Federal Deposit Insurance Corporation
Improvement Act of 1989 ("FDICIA"), all commercial banks that accepted deposits
were required to obtain FDIC insurance and to have a primary federal regulator
(the Fed for state banks that are members of the Federal Reserve System, and the
FDIC for "nonmembers").
The Federal Reserve System
The Federal Reserve Act of 1913 established the present day Federal Reserve
System and brought all banks in the United States under the authority of the
federal government, creating the twelve regional Federal Reserve Banks which are
supervised by the Federal Reserve Board. Notwithstanding the Glass-Steagall Act
of 1932 and the Banking Acts of 1933 and 1935, which were attempts to reform
various banking abuses, the Federal Reserve System has remained more or less
unchanged through to the present day. The Glass-Steagall Act was repealed in
1999, whereas the Banking Act of 1933 simply strengthened the supervisory powers
of federal authorities and created the Federal Deposit Insurance Corporation.
Deregulation
Legislation passed by the federal government during the 1980s, such as the
Depository Institutions Deregulation and Monetary Control Act of 1980 and the
Garn-St. Germaine Depository Institutions Act of 1982, diminished the
distinctions between banks and other financial institutions in the United
States. This legislation is frequently referred to as "deregulation," and it is
often blamed for the failure of over 500 savings and loan associations between
1980 and 1988, and the subsequent failure of the Federal Savings and Loan
Insurance Corporation (FSLIC) whose obligations were assumed by the FDIC in
1989. However, some critics of this viewpoint, particularly libertarians, have
pointed out that the federal government's attempts at deregulation granted easy
credit to federally insured financial institutions, encouraging them to
overextend themselves and (thus) fail.
Bank mergers and brands
Some brands in the banking/financial services industry today are the result of a
merger where the acquiring bank assumed the brand name of the bank it took over.
This happened in the case of these mergers:
The Nations Bank/BankAmerica merger
The Norwest/Wells Fargo merger
The Firststar/US Bank merger
The Travelers/Citibank merger
The Chemical Bank/Chase merger
The Travelers Group/Citicorp merger
First Union/Wachovia merger
J.P. Morgan Chase/Bank One merger
Top three changes in banking profitability
The top three changes affecting or detracting from a bank's profitability are
the following:
Increasing overhead - primarily due to escalating real estate prices and health
benefits increase.
Online lending - Non traditional banks have gained a foothold by leveraging the
internet.
Mortgage Brokers - Mortgage Brokers have gained more than 70% of the mortgage
origination market over the past decade. Mortgage Brokers sell originated loans
primarily to large wholesale mortgage servicing companies which can offer
sharply reduced mortgage pricing as they do not have the same high cost or
overhead as a retail bank branch. Therefore a retail bank may be competitive in
the mortgage lending field on a retail basis, but not able to offer a
comparative wholesale program to mortgage brokers. Therefore the mortgage
brokers often sell the bulk of originations to large mortgage servicing
companies.
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straining system resources. One of the best website that discussed various
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character representations of themselves. As with most massive multiplayer online roleplaying games (MMORPG), there is no overall objective or end to the game.
Players explore, form alliances, perform optional tasks, and complete quests for
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RuneScape takes place in the fantasy-themed realm of Gielinor, which is divided
into several different kingdoms, regions, and areas. Players can travel
throughout the gaming world on foot, by using magical teleportation spells or
devices, or mechanical means of transportation. Each region offers different
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