The American Institute of Banking (AIB) was founded in 1919 and is a professional association for bankers and financial services professionals. AIB provides educational resources and networking opportunities for its members. AIB also advocates for the banking industry on a range of policy issues. How many banks are part of the ABA? The ABA (American … Read more
A mini-branch is a smaller version of a traditional bank branch that offers a limited range of services. Mini-branches are typically located in high-traffic areas, such as shopping malls, and offer extended hours to accommodate busy consumers. Services offered at mini-branches may include account opening and maintenance, loan applications, and basic financial advice. What does … Read more
How Banking Works, Types of Banks, and How To Choose the Best Bank for You What are the three types of banks? The three main types of banks in the United States are commercial banks, savings banks, and investment banks. Commercial banks are the most common type of bank. They take deposits from businesses and … Read more
A corporate agent is a banking institution that provides a wide range of services to businesses, including loans, deposit accounts, and merchant services. Corporate agents typically work with businesses of all sizes, from small businesses to large corporations. How do I become a corporate agent? The first step to becoming a corporate agent is to … Read more
The Lombard rate is the rate of interest charged by the Bank of England on collateralised loans to banks and other financial institutions. The rate is named after the Italian city of Lombardy, where medieval Italian bankers charged a similar rate of interest on loans. The Lombard rate is used as a policy tool by … Read more
An order paper is a document that lists the items of business to be considered by a legislative body on a particular day. It is usually published in advance of the sitting day. In parliamentary procedure, an order paper is also the notice paper containing the list of items of business to be brought before … Read more
A concentration account is a bank account that is used to consolidate funds from multiple sources into a single account. This can be useful for businesses that have multiple bank accounts and want to simplify their finances. Concentration accounts can also help businesses manage their cash flow more effectively. What is a concentration risk in … Read more
A concentration bank is a bank that holds a large percentage of the deposits in a particular market. In the United States, the four largest banks are considered concentration banks. They are JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. These banks hold a combined market share of 44 percent of all deposits. What … Read more
A minimum deposit is the smallest amount of money that you can deposit into a bank account. This amount is typically set by the bank and is often required in order to open an account. The minimum deposit may vary depending on the type of account you open. For example, a savings account may have … Read more
The European Banking Authority (EBA) is a pan-European banking regulator established in 2011. Its main objective is to ensure the smooth functioning of the banking sector across the European Union (EU). The EBA is based in London, United Kingdom. The EBA is responsible for developing and enforcing common rules and standards for banks operating in … Read more
