Financial Institution

Bank - A bank is a financial institution licensed to receive deposits, make loans, and provide various financial services such as wealth management, currency exchange, and safe deposit boxes. Banks play a crucial role in the economy by facilitating financial transactions, providing credit, and offering investment products.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/R9TyJ8yqLicto5rFa8puek4
Label (rdfs): Bank
Preferred Label: Financial Institution
Alternative Labels: Depository Institution
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Definition and Examples

Definition: A bank is a financial institution licensed to receive deposits, make loans, and provide various financial services such as wealth management, currency exchange, and safe deposit boxes. Banks play a crucial role in the economy by facilitating financial transactions, providing credit, and offering investment products.
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Translations

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Class Relationships

Sub Class Of: Role in Matter
Parent Class Of: Savings and Loan Association

Credit Union

Central Bank

Investment Bank
Is Defined By: N/A
See Also: N/A

Additional Information

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Deprecated: False

Metadata

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