What Is a Bank? 百科知识
What Is a Bank?
A presenter explains the difference between banks and financial institutions.
难度级别 4 | 商务英语 | 时长： 01:06 | 资源：Garnet Education
So, we agree that banking is about money.
But finance is also about money.
Does this mean that banking and finance are the same?
Banks are financial institutions but so are insurance companies and investment companies.
Some financial institutions provide banking services, but they cannot be defined as a bank.
Because they do not fulfill the legal definition of a bank.
In Britain, all financial institutions are controlled by the Financial Services Authority or FSA.
There is legislation covering the services provided by each institution.
A bank is a government-licensed institution.
It is established under a government charter.
A banking license gives the right to conduct banking services, particularly services related to the storing or keeping of deposits and the extending or offering of credit.
1.What is the video about?
a.the role of banks in the economy
b.the architecture of banks
c.laws that protect consumers
d.the difference between banks and financial institutions
2.What do banks and financial institutions have in common?
a.They deal with money.
b.They are protected by the same law.
c.They do not have an effect on the economy.
d.They deal with food.
3.According to the video, why are there laws about banks?
a.to limit the growth of banks
b.to prevent theft
c.to earn taxes for the government
d.to control banking services
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