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Bank

A bank is a financial institution which is chartered and regulated to hold customer deposit.

A bank has deposit insurance backed by a central bank.

Banks are required to perform KYC, CTF, AML checks on financial transactions and account holders.

References

  1. Roche, Cullen O. 2011. ‘Understanding the Modern Monetary System’. http://ssrn.com/paper=1905625.
  2. Binder, Carola. 2021. ‘Technopopulism and Central Banks’. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3823456.
  3. Braun, Benjamin, and Daniela Gabor. 2019. ‘Central Banking, Shadow Banking, and Infrastructural Power’. https://doi.org/10.31235/osf.io/nf9ms.