Banking
/ˈbæŋkɪŋ/
Definitions
- (n.) The business or practice of managing financial transactions, including deposits, loans, and investments, governed by banking laws and regulations.
The new banking regulations require all institutions to verify customer identities thoroughly.
- (n.) The system or industry of banks collectively functioning as intermediaries in the economy.
Banking plays a crucial role in economic development by facilitating capital flow.
Related terms
See also
Commentary
In legal contexts, 'banking' often refers broadly to both the activities conducted by banks and the regulatory framework governing these activities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.