BANKS-HANDOUT - HANDOUT(BANKS BANKS An establishment authorized by a government to accept deposits pay interest clear checks make loans act as an


This preview shows page 1 - 2 out of 3 pages.

HANDOUT(BANKS) BANKS An establishment authorized by a government to accept deposits, pay interest, clear checks, make loans, act as an intermediary in financial transactions, and provide other financial services to its customers. The evolution: Before fancy building became the hub for saving money, people had different ways of saving money. Giving your money to a trusted friend to keep for you. Digging a hole and putting the money in it. Putting the money in ‘piggy bank’ which could also be an old container etc. Types of banks Online banks Commercial banks Central banks Contribution of banks to the Canadian economy/ gdp Canada’s banking industry is an essential contributor to the country’s economic growth and well-being. Banks are leading taxpayers, progressive employers and major purchasers of goods and services from Canadian suppliers as well as being good corporate citizens, and Canadians understand the industry’s importance to the country’s economy.
Image of page 1

Subscribe to view the full document.

Image of page 2

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes