Glossary
Chapter 1
Asset anything of value
Automated
teller
machines
(ATMs)
fee based mechanism by which bank customers can perform banking transactions
without the aid of a bank teller
Bank business which sells services to earn money, they manage and market those services in
a competitive field
Brokers people who execute orders to buy and sell stocks and other securities
Central bank government banks that manage, regulate, and protect both the money supply and the
banks themselves
Commercial
bank institutions commonly thought of as banks
Commercial
banks banks owned by stockholders who expect a profit on their investments
Credit unions savings and loan institution owned by depositors who share a common type of
association, such as employer
Creditworthy customer with a good credit rating, sufficient collateral for loans, and ongoing income
Currency
exchanges
private companies that cash check, sell money orders or perform other exchange
services
Depositor people who put money into banks
Depository
intermediaries
financial institutions that get funds from the public and use them to finance their
business
Deregulation loosening of government control
Equity represents net assets, or total assets, minus total liabilities
