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Central Bank A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country or of a group of member states. It is a bank that can lend money to other banks in times of need. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a lender of last resort to the banking sector during times of financial crisis. Functions of a central bank implementing monetary policy controlling the nation's entire money supply the Government's banker and the bankers' bank ("lender of last resort") managing the country's foreign exchange and gold reserves and the Government's stock register regulating and supervising the banking industry setting the official interest rate – used to manage both inflation and the country's exchange rate – and ensuring that this rate takes effect via a variety of policy mechanisms Naming of central banks Many countries use the "Bank of Country" form (e.g., Bank of England, Bank of Canada, Bank of Russia). Some are styled "national" banks, such as the National Bank of Ukraine; Central banks may incorporate the word "Central" (e.g. European Central Bank, Central Bank of Ireland). The word "Reserve" is also often included, such as the Reserve Bank of Australia, Reserve Bank of India, Reserve Bank of New Zealand, the South African Reserve Bank, and U.S Federal Reserve System. Commercial Bank A commercial bank is a type of financial intermediary and a type of bank. Commercial banking is also known as business banking. It is a bank that provides checking accounts, savings accounts, and money market accounts and that accepts time deposits Commercial bank is the term used for a normal bank to distinguish it from an investment bank. It raises funds by collecting deposits from businesses and consumers via checkable deposits, savings deposits, and time (or term) deposits. It makes loans to businesses and consumers. It also buys corporate bonds and government bonds. Its primary liabilities are deposits and primary assets are loans and bonds. The role of commercial banks processing of payments by TT, EFTPOS, internet banking issuing bank drafts and bank cheques accepting money on term depositlending money by overdraft, installment loan, or other means providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures safekeeping of documents and other items in safe deposit boxes currency exchange, sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a “financial supermarket” Investment Bank An Investment Bank is a financial institution that deals with raising capital, trading in securities and managing corporate mergers and acquisitions. Investment banks profit from companies and governments by raising money through issuing and selling securities in the capital markets (both equity, bond) and insuring bonds (selling credit default swaps), as well as providing advice on transactions such as mergers and acquisitions. A majority of investment banks offer strategic advisory services for mergers, acquisitions or other financial services for clients, such as the trading of derivatives, fixed income, foreign exchange, commodity, and equity securities. [...]... cheque A bearer check – An open cheque A counter check Credit card A credit card is part of a system of payments named after the small plastic card issued to users of the system It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services The issuer of the card grants a line of credit to the consumer (or the user) from which the... bank card or check card) is a plastic card which provides an alternative payment method to cash when making purchases Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account (often referred to as a check card), or from the remaining balance on the card In some cases, the cards are designed exclusively for use on the Internet, and so there is . banking issuing bank drafts and bank cheques accepting money on term depositlending money by overdraft, installment loan, or other means providing documentary