banking system
Noun: - A network or group of banks operating under a shared regulatory and operational framework: The term 'banking system' refers collectively to the financial institutions that accept deposits, provide loans, and facilitate monetary transactions within an economy. It encompasses the interconnected structure of commercial banks, central banks, and other financial entities that manage the flow of money and credit.
The term is used to describe the entire financial infrastructure responsible for banking services in a country or region. It is a singular noun but refers to a collective entity. - The stability of a country's banking system is crucial for economic confidence. - Technological advances have transformed the modern banking system.
- "to be part of the banking system": to operate as a recognized financial institution within the established network.
- The new digital-only lender was approved to be part of the national banking system.
- Bank (n): An individual financial institution that is a component of the banking system.
- I need to go to the bank to deposit this check.
- Banking (n): The business activity conducted by banks.
- He has a long career in banking.
- Financial system: A broader term that includes not only banks but also stock markets, insurance companies, and other financial intermediaries.
- Banking sector: Often used in economic and business contexts to refer to the industry comprising banks.
- Central banking system: Refers specifically to the structure involving a nation's central bank and its regulatory role over commercial banks.
- The Federal Reserve is at the core of the U.S. central banking system.
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banks collectively
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