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Chapter 21 Section 3. Banking Services What Banks Do Banks accept deposits to create different types of accounts and then use these deposited funds to.

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Presentation on theme: "Chapter 21 Section 3. Banking Services What Banks Do Banks accept deposits to create different types of accounts and then use these deposited funds to."— Presentation transcript:

1 Chapter 21 Section 3

2 Banking Services What Banks Do Banks accept deposits to create different types of accounts and then use these deposited funds to make loans.  Checking Accounts- Allows customers to write checks or debit cards.  Savings Accounts- Banks pay interest to customers based on how much money they have deposited.

3  Certificates of Deposit (CDs)- Requires a saver to deposit his or her funds for a certain period of time. Offer higher interest rates.  Making Loans- Lend money to businesses consumers (to make money). Changes in Banking  The National Banking Act Federally chartered private banks issued national banknotes or national currency  The Federal Reserve-  The Great Depression- 1930’s, FDR Bank Holiday, est. FDIC

4 Recent Developments  The Savings and Loan Crisis Late 1980s Credit Crisis 2008  The Gramm-Leach-Bliley Act Permits bank holding companies greater freedom to engage in a full range of financial services. Established safeguards to protect customers’ personal financial information.

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