National Bank Of Pakistan
Department of Treasury obligations, agency securities, and corporate debt. One of the greatest factors in recent years in the movement of deposits was the tremendous growth of money market funds whose higher interest rates attracted consumer deposits. Since the advent of EFTPOS , direct credit, direct debit and internet banking, the cheque has lost its primacy in most banking systems as a payment instrument. Commercial or corporate banks provide specialty services to their business clients, from small business owners to large, corporate entities. JPMorgan Chase and Bank of America are two popular examples of commercial banks, though both have large retail banking divisions as well. This number includes national banks, state-chartered banks, commercial banks, and other financial institutions. Commercial Banking A type of CMO security that does not pay holders periodic interest in cash. Instead, periodic interest for these bonds is accrued. It is added to the principal amount due t...