What does bank mean?
Banking operations, credit institute; Company that, as a commercial bank, creates money and credit-related services by linking the production factors of banking operations.
1. Economic function: Liquidity equalization within the flow of money opposing the flow of values of material goods and services through lot size, deadline and risk transformation.
2. Individual economic functions:
(1) Exchange function: Creation of opportunities for exchanging liquid funds of different shapes and / or quality.
(2) Depot function: Safekeeping of liquid funds for certain periods of time.
(3) Transport function: Spatial transfer of monetary resources.
(4) Financing function: Temporary transfer of money or credit to third parties.
3. Legal definition: According to section 1 (1) of the KWG, credit institutions are all companies that conduct banking business on a commercial basis or if the scope of these transactions requires a commercially set up business. If a company provides financial services that are not banking transactions in accordance with Section 1 (1) KWG, it is considered a financial services institution in accordance with Section 1 (2) KWG. Banks can also be publicly owned (public credit institutions). Credit institutions are: credit banks, savings banks and Landesbanken, cooperative banks (credit cooperative) and central cooperative banks, mortgage banks, installment credit institutions, banks with special tasks and capital investment companies. The Deutsche Bundesbank, insurance companies and pawnbrokers are not commercial banks.
See also banking management.
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