US Banking System:

The United States banking system may look complicated and confusing. Even so many Americans have not fully understood this for a long time. For international students coming to the United States, it looks weak. This article will try to provide basic details about what you need to know to understand the United States banking system.

How do US Bank System work: US Bank

The primary function of banks is to lend money to other people who will use that money to buy house, business or to send their children to colleges. When you deposit your money in the bank, that money goes to a large pool of money, and the amount of money you deposit is credited to your account. When you write checks or withdrawals, the funds are deducted from your account. When you earn interest, money is added to your account.

Banks make money in the economy . The Federal Reserve set the reserve requirement for banks, which allows banks to lend. It has been best explained through an example us bank.

If a bank gets a deposit of $ 100, and the reserve requirement set by the Federal Reserve is 10%, then the bank is allowed to pay $ 90 for that deposit. She has returned to the $ 90 economy, and finally gets deposited in another bank, which is then able to lend from $ 90 to $ 81, and so on. Thus the banks earn money. US Bank

United States Bank List and their Headquarters: US Bank

S. No. US Bank name  US Bank’s Headquarters location  Us Bank’s Founded Year
1 JPMorgan Chase  New York City  December 1, 2000
2 Bank of America  Charlotte, North Carolina  October 17, 1904
3 Citigroup  New York City  October 8, 1998
4 Wells Fargo  San Francisco, California  March 18, 1852
5 Goldman Sachs  New York City  1869
6 Morgan Stanley  New York City  1935
7 U.S. Bancorp  Minneapolis, Minnesota  September 9, 1968
8 TD Bank, N.A.  Cherry Hill, New Jersey  January 1852
9 PNC Financial Services  Pittsburgh, Pennsylvania  April 10, 1845
10 The Bank of New York Mellon  New York City  July 1, 2007
11 Capital One  McLean, Virginia  1988
12 TIAA  New York City  1918
13 HSBC Bank USA  New York City  1850
14 State Street Corporation  Boston, Massachusetts  1792
15 Charles Schwab Corporation  San Francisco, California  1971
16 BB&T  Winston-Salem, North Carolina  1872
17 SunTrust Banks  Atlanta, Georgia  1891
18 American Express  New York City  March 18, 1850
19 Ally Financial  Detroit, Michigan  1919
20 Barclays  New York City  17 November 1690
21 State Farm  Bloomington, Illinois  June 7, 1922
22 USAA  San Antonio, Texas  June 20, 1922
23 MUFG Union Bank  New York City  2008
24 Citizens Financial Group  Providence, Rhode Island  1828
25 BNP Paribas  New York City  1848
26 Fifth Third Bank  Cincinnati, Ohio  June 17, 1858
27 UBS  New York City  22 April 1862
28 Credit Suisse  New York City  1856
33 BMO Harris Bank  Chicago, Illinois  1882
30 KeyBank Cleveland, Ohio  1825
31 Deutsche Bank  New York City  1870
32 Northern Trust  Chicago, Illinois  1889
33 Santander Bank  Boston, Massachusetts  1902
34 Regions Financial Corporation  Birmingham, Alabama  1971
35 M&T Bank  Buffalo, New York  1856
36 RBC Bank  New York City  March 5, 2012
37 Huntington Bancshares  Columbus, Ohio  1866
38 Discover Financial  Riverwoods, Illinois  1985
39 Synchrony Financial  Stamford, Connecticut  September 12, 2003
40 BBVA Compass  Birmingham, Alabama  March 2, 1964
41 Comerica  Dallas, Texas  1849
41 Zions Bancorporation  Salt Lake City, Utah  1873
43 E-Trade  New York City  1982
44 Silicon Valley Bank  Santa Clara, California  1983
45 CIT Group  Livingston, New Jersey  1908
46 New York Community Bank  Westbury, New York  1859
47 Popular, Inc.  San Juan, Puerto Rico  1893
48 People’s United Financial  Bridgeport, Connecticut  2007
49 Mutual of Omaha  Omaha, Nebraska  1909
50 First Horizon National Corporation  Memphis, Tennessee  1864

 

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