Name : Risma Rahayu

NPM : 021121439

Class : 2-L

Majoring : Management

Assignment Business English week 14

Answer these questions below!

1. What is banking and why is it important?

2. Can you still conduct financial transactions without having a bank or a credit union
account?
3. What is the benefit of banking
4. Mention types of banks!
5. Make 3 sentences using pronouns

The answer

1. Banking is defined as the business activity of accepting and safeguarding money

owned by other individuals and entities, and then lending out this money in order to
conduct economic activities such as making profit or simply covering operating
expenses. This is important because those who are unbanked or underbanked are
hindering their financial lives from enjoying services that lead to financial well-
being.
2. Of course i can, but my life would be more difficult and managing my wealth more
daunting.

3. Safety: It’s risky to keep your money in cash as it could be lost, stolen, or
destroyed. Financial institutions keep your funds safe.
Convenience: With banks, there's no need to carry cash. If you need cash, you can
easily access your funds virtually anywhere.
Security: Banks follow stringent laws and regulations and at most banks, funds are
insured.
Financial Future: As an individual, you'll have access to financial professionals to
help you. Knowledgeable advice of bankers is a valuable resource to help you build
a better financial future.

4. Commercial Banks: Provide familiar services such as checking and savings

accounts, credit cards, investment services, and others. Historically, offered their
services only to businesses, including credit and debit cards, bank accounts,
deposits and loans, and secured and unsecured loans. Due to deregulation,
commercial banks are also competing more with investment banks in money
market operations, bond underwriting, and financial advisory work.
 Retail Banks: Developed to help individuals not served by commercial banks.
Provide basic banking services to individual consumers. These institutions help
customers save money, acquire loans, and invest. They also offer a wide range of
financial services to a broad customer base. Examples include savings banks,
savings and loan associations, and credit unions and examples of products and
services include safe deposit boxes, checking and savings accounting, certificates
of deposit (CDs), mortgages, and car loans.
Central Banks: Banks formed, owned, and regulated by the government to
manage, regulate, and protect both the money supply and the other banking
institutions. Guarantee stable monetary and financial policy from country to
country. Typical functions include implementing monetary policy, managing
foreign exchange and gold reserves, making decisions regarding official interest
rates, acting as banker to the government and other banks, and regulating and
supervising the banking industry. Central banks serve as the government's banker.
Central banks issue currency and conduct monetary policy.

5. The bride started starring at herself in the mirror.

Everybody was present when I entered the classroom.
The person sitting by your side was my uncle.
This vault was unable to open for them.
You are the only one who can quickly solve this puzzle.