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    Assignment #1 - RICAMORA

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    Patrick Lawrence
    Banks are financial institutions that accept deposits from the public, which creates a demand deposit, and uses those funds to make loans directly or through capital markets. The key elements of a bank are accepting deposits, lending money, and being authorized by law. Granting a banking license requires evaluating an applicant's ownership, management, strategy, controls, finances, and capital to ensure compliance with regulatory requirements.

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    Assignment #1 - RICAMORA

    Uploaded by

    Patrick Lawrence
    4 views1 page
    Banks are financial institutions that accept deposits from the public, which creates a demand deposit, and uses those funds to make loans directly or through capital markets. The key elements of a bank are accepting deposits, lending money, and being authorized by law. Granting a banking license requires evaluating an applicant's ownership, management, strategy, controls, finances, and capital to ensure compliance with regulatory requirements.

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    Banks are financial institutions that accept deposits from the public, which creates a demand deposit, and uses those funds to make loans directly or through capital markets. The key elements of a bank are accepting deposits, lending money, and being authorized by law. Granting a banking license requires evaluating an applicant's ownership, management, strategy, controls, finances, and capital to ensure compliance with regulatory requirements.

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    4 views1 page

    Assignment #1 - RICAMORA

    Uploaded by

    Patrick Lawrence
    Banks are financial institutions that accept deposits from the public, which creates a demand deposit, and uses those funds to make loans directly or through capital markets. The key elements of a bank are accepting deposits, lending money, and being authorized by law. Granting a banking license requires evaluating an applicant's ownership, management, strategy, controls, finances, and capital to ensure compliance with regulatory requirements.

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    RICAMORA, PATRICK LAWRENCE S.

    3rd Year BSBA LM


    October 20, 2022

    1. What is a bank?
    In accordance with Republic Act. 8791, a “Bank” refers to entities engaged in the
    lending of funds obtained in the form of deposits. In Google a Bank is a financial
    institution that accepts deposits from the public and creates a demand deposit while
    simultaneously making loans. Lending activities can be directly performed by the bank
    or indirectly through capital markets.

    2. What are the Elements of a Bank?

     Accepts funds in the form of deposits from the public


     Lends money to the public
     Must be authorized by the law

    3. What are the requirements for the grant of a Banking License?


    The ownership structure, senior management, operating strategy, internal
    controls, financial standing, and capital base of the bank will all be evaluated as part of
    the process of awarding a bank license. (Republic Act. 8791, Chapter 3, Section 8)

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