MONEY CENTER BANKS
\mˈʌnɪ sˈɛntə bˈaŋks], \mˈʌnɪ sˈɛntə bˈaŋks], \m_ˈʌ_n_ɪ s_ˈɛ_n_t_ə b_ˈa_ŋ_k_s]\
Definitions of MONEY CENTER BANKS
Sort: Oldest first
Located in economic hubs, in large cities like Los Angeles, New York, London, and Hong Kong, these types of banks earn revenue from transactions with governments, big businesses, and other banks, and not the individual consumer. Regular banks typically get interest rates and business practices from these banks. Also known as money market center banks.
By Henry Campbell Black
Word of the day
- relating to covered with or resembling freckles Freckled; speckled; bearing numerous small dots. Affected with lentigo.