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2020 | OriginalPaper | Chapter

6. Commercial Banks and Savings Banks

Author : Felix I. Lessambo

Published in: The U.S. Banking System

Publisher: Springer International Publishing

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Abstract

Both commercial banks and savings & loans provide banking and loan products to consumers. Commercial banks are classified as: retail banks and wholesale banks. Commercial banks are intermediaries between the central bank (FED) and the ultimate money borrowers. However, savings banks are financial institution whose primary purpose consists of accepting savings deposits and paying interest on those deposits.

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Title: Commercial Banks and Savings Banks
Author: Felix I. Lessambo
Publisher: Springer International Publishing
Book: The U.S. Banking System
Print ISBN: 978-3-030-34791-8

Electronic ISBN: 978-3-030-34792-5

Copyright Year: 2020
DOI: https://doi.org/10.1007/978-3-030-34792-5_6