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 |