A(n)_________ bank accepts deposits and is covered by deposit insurance.

Question

Quizplus · Accepted Answer

Commercial banks are the most common type of bank that accept deposits and are covered by deposit insurance. They offer services such as checking accounts, savings accounts, and loans to both individuals and businesses. Investment banks, on the other hand, do not accept deposits and typically provide services to corporations and governments in areas such as underwriting securities and mergers and acquisitions. Public and private banks are not distinct types of banks but refer to the ownership structure of a bank (i.e. publicly traded or privately owned).

A(n)_________ Bank Accepts Deposits and Is Covered by Deposit Insurance