An institution
which accepts deposits, makes business loans, and offers related services.
Commercial banks also allow for a variety of deposit accounts, such as
checking, savings, and time deposit. These institutions are run to make a
profit and owned by a group of individuals, yet some may be members of the
Federal Reserve System. While commercial banks offer services to individuals, they
are primarily concerned with receiving deposits and lending to businesses.
FUNCTIONS OF COMMERCIAL BANKS
The functions of commercial banks are of two types.
