Bank, overseas. O overseas banks.
Bank rate. A now obsolete term for the rate of interest at which the central bank lends to the banking system, which in practice meant
Banking the minimum, since no return at all is earned on holdings of cash and a very low return in the money market. The banking system is based on confidence in the system’s ability to meet its obligations. In the short run, no bank is able to meet all its obligations in cash, and if demands upon it exhausted its cash reserves the bank would be obliged to close its doors. Runs on banks have not occurred in a developed country since the U.S. bank failures in the 1930s but in 1967 the Intra-bank in the Lebanon was closed as the result of a run’.
Banking systems in the advanced countries, and especially in Britain, have now developed and concentrated to the point where bank failure, or the necessity to control new entrants to the banking system, no longer present any problems. Indeed, many people argue that the banks are insufficiently competitive. Banking in these countries has also developed by acquisition or internal growth to include many other services, e.g. credit cards ( credit account), hire purchase, merchant banking, which were previously the sole province of more specialized institutions.