Banking is defined as the commercial activity of receiving, securing, and lending out money belonging to other people or companies to carry out economic operations like creating a profit or merely paying operating costs. On the other hand, a financial entity with permission to accept deposits and issue loans is known as a bank. Commercial/retail and investment banks are two of the most prevalent categories. Depending on the kind, a bank may also offer a range of financial services, from safe deposit boxes and currency exchange to retirement and asset management. The U.S. Federal Reserve Bank, one of the world's...