A bank is a financial institution crucial for economic activity. Its primary function involves accepting deposits from the public, which in turn creates demand deposits. Simultaneously, banks provide loans, either directly or indirectly through capital markets. These lending activities are essential for facilitating economic growth by providing capital for individuals, businesses, and governments. Banks play a vital role in the monetary system and overall financial stability.
In 1979, the Federal Financial Institutions Examination Council (FFIEC) was established to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions.
Starting in 1985, banks engaged in around 28,798 mergers or acquisitions.
In 1999, a major wave in bank mergers and acquisitions peaked at around 460 bil. USD.
In 2007, a major wave in bank mergers and acquisitions peaked at around 460 bil. USD.
After the 2008 financial crisis, regulators required banks to issue Contingent convertible bonds (CoCos). These securities are designed to absorb losses when a bank's capital falls below a certain level, boosting capitalization.
During the 2008 financial crisis, banks that failed in the United States had, on average, four times more brokered deposits as a percent of their deposits than the average bank.
In 2008, during adverse market conditions, the assets of the world's largest 1,000 banks grew by 6.8% to a record US$96.4 trillion, largely due to recapitalization, while profits declined by 85% to US$115 billion.
In 2008, the financial crisis led to bank failures, including some of the world's largest banks, and sparked debate about bank regulation.
As of November 2009, China's top four banks had in excess of 67,000 branches.
In 2009, fee revenue generated by global investment banking totaled US$66.3 billion, up 12% on the previous year.
As of 2015, The United States had the most bank institutions (5,330) and branches (81,607) in the world.
Between 1985 and 2018, bank mergers and acquisitions deals declined -82% from 2007 until 2018.
In 2021, Citigroup began to exit retail banking outside of its core U.S. market.
In 2022, HSBC began to exit the U.S. retail market (except for its wealth management business).
In March 2023, the global banking crisis emerged due to liquidity shortages and bank insolvencies, leading to three bank failures in the United States. Within two weeks, several of the world's largest banks either failed or were shut down by regulators.
In 2023, HSBC put its retail operations in a dozen other countries under review for sale or closure.
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