Powers of A Commercial Bank
In addition to having the powers of a thrift bank, a commercial bank has the power to accept drafts and issue letters of credit; discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt; accept or create demand deposits; receive other types of deposits and deposit substitutes; buy and sell foreign exchange and gold or silver bullion; acquire marketable bonds and other debt securities; and extend credit.
Read more about this topic: List Of Banks In The Philippines
Famous quotes containing the words powers of, powers, commercial and/or bank:
“Great Powers of falling wave and wind and windy fire,
With your harmonious choir
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That my old care may cease....”
—William Butler Yeats (1865–1939)
“No passion so effectually robs the mind of all its powers of acting and reasoning as fear.”
—Edmund Burke (1729–1797)
“It is only by not paying one’s bills that one can hope to live in the memory of the commercial classes.”
—Oscar Wilde (1854–1900)
“Denouement to denouement, he took a personal pride in the
certain, certain way he lived his own, private life,
but nevertheless, they shut off his gas; nevertheless,
the bank foreclosed; nevertheless, the landlord called;
nevertheless, the radio broke,
And twelve o’clock arrived just once too often,”
—Kenneth Fearing (1902–1961)