![]() ![]() Historically, banks have been recognized for the many different financial services they offer, such as: Investment Banking Insurance Financial planning Advice for merging companies Risk-management services to businesses and consumers ……And many other servicesĥ EXHIBIT 1-1 The Many Different Kinds of Financial-Service Firms Calling Themselves Banks The economic functions it performs The services it offers its customers The legal basis for why it exists. banks represent about one- fifth of the total assets In other nations banks hold half or more of all assets in the financial systemĤ What Is a Bank? A bank can be defined in terms of: ![]() Key Topics Powerful Forces Changing the Industry What Is a Bank? The Financial System and Competing Financial-Service Institutions Old and New Services Offered to the Public Key Trends Affecting All Financial- Service Firmsģ Introduction Banks are the main source of credit (loans) for millions of households and for many units of government World-wide banks grant more loans to consumers (households) than any other financial-service companies The assets held by U.S. 1 An Overview of the Changing Financial-Services SectorĬhapter One An Overview of the Changing Financial-Services SectorĢ Powerful Forces Changing the Industry What Is a Bank? ![]()
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