The idea of bench can refer to a seat.
Banking is a term with more than ten meanings in the dictionary of the Royal Spanish Academy (RAE) . The first meaning that appears in the dictionary refers to the wooden seat that has no backrest , although the concept can also be used as a synonym for bench (the seat on which several people can sit and that may or may not have a backrest).
For example: "Take the opportunity to sit in the shade, there is a bench available there," "Bring the bench to the patio so we can talk a little."
Banking in finance
Banking is also the set of banks and bankers . In this sense, it is the group of entities whose primary objective is to facilitate financing : "If the bank fails, the country will enter an unprecedented social crisis," "We need a more supportive bank that does not charge such high interests." .
Banking offers its clients the possibility of opening a savings account or a checking account , giving them a debit card, a credit card and other products to operate. Currently, the user no longer has to go to the branch to make a bank transfer and other errands, but can use their account with online banking (via the Internet) and even with mobile banking (on their phone).
Through banking, it is possible to make a fixed-term deposit or allocate money to an investment fund , obtaining profits from the interest rates. It is also possible to issue checks , buy stocks or bonds , make electronic payments and withdraw cash from an automated teller machine ( ATM ), to mention other possibilities.
It is important to differentiate between private banking (a company that provides this type of services) and public banking (whose owner is the State). A distinction can also be made between retail banking or commercial banking (serving the community in general) and business banking or investment banking (oriented towards investments and the transaction of securities in the capital market ).
In economics and finance, banking is the set of bankers and banks.
The rescue
There is a concept in economics called financial rescue and refers to the economic act in which an entity lends financial capital to another (company, State or an individual) that is in serious danger of bankruptcy . In this way, the assisted person manages to save himself from bankruptcy and insolvency and is able to relocate to the market economy.
In recent years there was another concept, born from this notion, that became fashionable: bank bailout . Given the difficult financial situation that certain countries went through, many States have resorted to bank loans to rebound the economy of their territory.
However, the debt with the banks has been increasing so much that the way in which some have decided to get money to save it has been by cutting subsidies to public undertakings . Thus, in Spain , for example, years ago many libraries and schools have closed and a lot of money that was previously allocated to cultural entertainment has been cut.
In the same way, they have tried to privatize health and other services, in order to lower costs and obtain the money to return to the banks and thus prevent these entities from going bankrupt.
As expected, these types of decisions caused great discontent and anger among citizens , who saw how their own State preferred to prioritize the economic stability of financial companies, forgetting their true responsibility: to protect the economy and stability of the citizens. All of this led to an increase in protests and strikes in order for the government to listen to the will of the people. Although change is slow, surely these types of movements are ideal if a more just society is desired.
It is necessary that the people not allow governments to decide what is done with public money, therefore only if we all united to ask that we be heard and our needs respected, could the situation change.
Banks usually offer consumer credit.
Other uses of the term banking
Banking, on the other hand, is a card game that consists of guessing the value or suit that is revealed from the deck. The bank is, furthermore, the amount of money put in by the person holding the card.
In Argentina , Uruguay and other South American countries, the seat is the position in Parliament that is obtained through elections: "The ruling party took twenty seats in the Senate."
In the Philippines , the banca is a small, narrow boat that is built in a hollowed log. It has no deck or rudder, and is steered through the galley.
The table in a market where fruits or other products for sale are placed, the box where the washerwomen are located to wash clothes and the block of ice that floats in the seas at high altitudes are other meanings of the concept of banking.