global banking
Worldwide monetary services
Global banking is financial services that operate across national borders.
Major global banks maintain branches and subsidiaries in multiple countries, handling international transactions, currency exchange, trade finance, and cross-border lending.
The term also describes the interconnected system of international finance: The 2008 crisis revealed how global banking could transmit shocks from one economy to another.
- too big to failRequiring rescue due to scale
- remittancesPayments sent abroad
- wire transfersElectronic fund transmissions
- international loansBorrowing between countries
- foreign exchangeTrading between national currencies
debt restructuring · capital flows · financial centers · currency crises · asset management · clearinghouses · credit rating agencies · emerging markets · IMF · income inequality · economic growth · inflation control · exchange rates · international treaties · sovereign debt · money laundering
- global financefinancial hubs, capital flows, exchange rates, foreign exchange, forex
- international workdiplomat, ambassador, translator, interpreter, foreign correspondent
global bankingcredit unions
Member-owned financial cooperatives
community banks · building societies · savings and loans · microfinance · peer-to-peer lending
global bankingcash economy
Commerce using physical currency
underground banking · barter economy · loan sharks · pawnbroking · barter systems
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