banking system

Language: en

📖 Definitions

  1. The collective network of financial institutions, including commercial banks, central banks, and other depository institutions, that facilitate the flow of money, credit, and payments within an economy.; The specific operational framework, regulations, and infrastructure governing how banks function, interact, and are supervised by a government or central authority.

💬 Examples

  1. The primary objective of these measures is to prevent further erosion of public confidence in the banking system.

  2. Reforms were introduced to modernize the outdated banking system and improve transparency.