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秒以后自动返回Video: What Are Commercial Banks? - Definition, Roles & Functions
You may not realize it, but there are different types of banks and not all banks are authorized to do the same things. In this lesson, you'll learn about commercial banks, including their role and function in an economy. A short quiz follows.
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You may not realize it, but there are different types of banks and not all banks are authorized to do the same things. In this lesson, you'll learn about commercial banks, including their role and function in an economy. A short quiz follows.
Defining Commercial BankA commercial bank is a financial institution that is authorized by law to receive money from businesses and individuals and lend money to them. Commercial banks are open to the public and serve individuals, institutions, and businesses. A commercial bank is almost certainly the type of bank you think of when you think about a bank because it is the type of bank that most people regularly use. Banks are regulated by federal and state laws depending on how they are organized and the services they provide. Commercial banks are also monitored through the Federal Reserve System. FunctionsA commercial bank is authorized to serve the following functions:
Receive deposits - take money in from individuals and businesses (called depositors)
Disburse payments - make payments upon the direction of its depositors, such as honoring a check
Collections - a bank will act as your agent to collect funds from another bank payable to you, such as when someone pays you by check drawn on an account from a different bank
Invest funds in securities for a return
Safeguard money - banks are considered a safe place to store your wealth
Maintain and service savings and checking accounts of its depositors
Maintain custodial accounts - accounts controlled by one person but for the benefit of another person, such as a trust account
Lend money
Role in EconomyCommercial banks are probably the largest source of financing for private capital investment in the country. A capital investment is the purchase of an asset with the intention of you either generating income from the asset, the asset appreciating in value over time, or both. Common capital purchases made by businesses include things like plants and equipment. The quintessential capital purchase by individuals is the purchase of their homes. Commercial banking is a vital part of economic growth because it permits investment through financing. If investment was only possible through money already saved by the investor, growth would be much slower because it takes a long time to accumulate sufficient funds to buy large fixed capital assets, like machinery and factories. Just think how long it would take for you to raise all the money necessary to pay for a house with cash.
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How does a bank get the money to provide loans? The answer is simple: through depositors like you. Basically, when you deposit money into a bank account, the bank will take that money and use it to fund loans. Banks will make money off the loans through the interest it charges. Of course, it charges borrowers a higher rate of interest than the interest it pays you for use of the money. Lesson SummaryCommercial banks are an important part of a modern economy. Such a bank is a financial institution that is authorized by law to receive money from businesses and individuals and lend money to them. Functions of a commercial bank include receiving deposits, disbursing payments, collections, safeguarding money, loaning money, and maintaining and servicing checking, savings, and custodial accounts. Commercial banks' most important role in an economy is probably lending money to investors for purchase of capital goods that help grow the economy. Learning OutcomesThe facts presented in this lesson on commercial banks can prepare you to:
State the characteristics of a commercial bank
Specify the functions of a commercial bank
Recognize the role of commercial banks in an economy
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U.S. Department of EducationBanks provide a variety of services, and many of them don't have branch locations.
Tim Ellis / Getty Images
Banking and Loans
Small Business
Checking Accounts
Savings Accounts
Online Banking
Getting a Loan
Home Loans
Credit Unions
Security & Safety
Certificates of Deposit
By Justin Pritchard
When you think of a bank, the first thing that comes to mind might be the place that holds your checking or savings account. But there are several different types of banks, all serving different types of needs.You might not have heard of all of these banks, but each institution probably plays some part in your everyday life. Different banks specialize in different areas, which makes sense – you want your local bank to put everything they can into serving you and your community (and
without the overhead of managing multiple branch locations).
Types of BanksSome of the most common banks are listed below, but the dividing lines are not always clean cut. Some banks work in multiple areas (for example, a bank might offer personal accounts, business accounts, and even help large enterprises raise money in the financial markets). Retail banks are probably the banks you’re most familiar with: Your checking and savings accounts are held at a retail bank, which focuses on consumers (or the general public) as customers. These banks give you credit cards, offer loans, and they’re the ones with numerous branch locations in populated areas. Learn . Commercial banks focus on business customers. Businesses need checking and savings accounts just like individuals do. But they also need more complex services, and the dollar amounts (or the number of transactions) can be much larger. They might need to accept payments from customers, rely heavily on
to manage cash flow, and they might use
to do business overseas. Learn .
Investment banks help businesses work in financial markets. If a business wants to go public or sell debt to investors, they’ll often use an investment bank. Learn . Central banks manage the monetary system for a government. For example, the Federal Reserve Bank is the US central bank responsible for managing economic activity and supervising banks. Learn .
Credit unions are similar to banks, but they are not-for-profit organizations owned by their customers (most banks are owned by investors). Credit unions offer products and services more or less identical to most retail and commercial banks. The main difference is that credit union members share some characteristic in common (where they live, their occupation, or organizations they belong to, for example). Learn . Online banks operate entirely online – there are no physical branch locations available to visit with a teller or personal banker. Many
also offer online services, such as the ability to view accounts and , but internet-only banks are different: they often offer competitive rates on savings accounts and they’re especially . Learn . Mutual banks are similar to credit unions because they are owned by members (or customers) instead of outside investors. Savings and loans are less prevalent than they used to be, but they are still important. This type of bank was important in making home ownership mainstream, using deposits from customers to fund home loans. The name savings and loan refers to the core activity they perform: take savings from one customer and make loans to another. Learn .
Non-Bank LendersNon-bank lenders are increasingly popular sources for loans. Technically, they’re not banks, but your experience as a borrower might be similar: you’d apply for a loan and repay as if you were working with a bank.These institutions specialize in lending, and they are not interested in all of the other activities and regulations that apply to traditional banks. Sometimes known as marketplace lenders, non-bank lenders get funding from investors (both individual investors and larger organizations).For consumers shopping for loans, non-bank lenders are often attractive – they may use different approval criteria than traditional banks, and .Bank Changes Since the Financial CrisisThe financial crisis of 2008 changed the banking world dramatically. Before the crisis, banks enjoyed some good times, but the chickens came home to roost.
Banks were lending money to borrowers who could not afford to repay and getting away with it because home prices kept rising (among other things). They were also investing aggressively to increase profits, but the risks became reality during the Great Recession.New regulations:
changed much of that by making broad changes to financial regulation. Retail banking – along with other markets – is now regulated by a new, additional watchdog: the Consumer Financial Protection Bureau (CFPB). This entity gives consumers a centralized place to lodge complaints, learn about their rights, and get help. Moreover, the
makes retail banks behave more like they did before the housing bubble – they take deposits from customers and invest conservatively, and there are limits on the type of speculative trading banks can engage in.Consolidation: There are fewer banks – especially investment banks – since the financial crisis. Big name investment banks failed (Lehman Brothers and Bear Stearns in particular) while others reinvented themselves. The FDIC
that there were 414 bank failures between 2008 and 2011, compared to three in 2007 and zero in 2006. In most cases,
by another bank (and customers are not inconvenienced as long as they stay below FDIC insurance limits). The result is that weaker banks were absorbed by larger banks, and you don’t have as many names to choose from.
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