# Bank

**IRI:** https://folio.openlegalstandard.org/R9TyJ8yqLicto5rFa8puek4

## Labels

**Preferred Label:** Financial Institution

**Alternative Labels:**

- Depository Institution

## 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.

## Sub Class Of

- https://folio.openlegalstandard.org/RCEDL3kMYgjFUEOhOyGp3IE

## Parent Class Of

- https://folio.openlegalstandard.org/R87PmoWmotSgo32gCYT29sw
- https://folio.openlegalstandard.org/R9ejVFO48SQK7NinELTfoTP
- https://folio.openlegalstandard.org/RBK60WFmXaKPDEXd5H5DQ
- https://folio.openlegalstandard.org/RJ5qwfxRAfTOLboWpZp5bL

## See Also

- https://folio.openlegalstandard.org/R7meQhKYGkcA57UZ7v4JOdA
- https://folio.openlegalstandard.org/RusVTgN5XKjS4qJaIYIlH0

**Deprecated:** False