The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds".
Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation incorporated in Delaware and headquartered in New York City. The company was formed by the merger of Citicorp, the bank holding company for Citibank, and Travelers in 1998; Travelers was spun off from the company in 2002.
A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institution:
- Depository institution – deposit-taking institution that accepts and manages deposits and makes loans, including bank, building society, credit union, trust company, and mortgage broker;
- Contractual institution – insurance company and pension fund
- Investment institution – investment bank, underwriter, and other different types of financial entities managing investments.
In most legal jurisdictions, a financial institution is required to obtain a banking license before it is legally permitted to carry on a banking business. Besides other requirements, such a business is not permitted to contain in its name words such as bank, insurance, national, etc, unless it holds an appropriate license. Depending on banking regulations, jurisdictions may offer different types of banking licenses, such as:
Walmart de México y Centroamérica, also known as Walmex, is the Mexican and Central American Walmart division. Walmart de México y Centroamérica is Walmart's largest division outside the U.S. as of October 31, 2022, consists of 2,804 stores around the country, including 300 Walmart Supercenter stores and 167 Sam's Club stores. It has been traded in the Mexican Stock Exchange since 1977. Walmart de México y Centroamérica is the biggest retailer in Latin America.
The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance.
Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator (AFORE).
Carlos Slim Helú is a Mexican business magnate, investor, and philanthropist. From 2010 to 2013, Slim was ranked as the richest person in the world by Forbes business magazine. He derived his fortune from his extensive holdings in a considerable number of Mexican companies through his conglomerate, Grupo Carso. As of December 2023, the Bloomberg Billionaires Index ranked him as the 11th-richest person in the world, with a net worth of $105 billion or about 7% of Mexico's GDP, making him the richest person in Latin America.
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
Caixa Geral de Depósitos (CGD) is a Portuguese state-owned banking corporation, and the largest bank in Portugal, established in Lisbon in 1876.
Fobaproa was a contingencies fund created in 1990 by the Mexican government, led by then dominant Institutional Revolutionary Party (PRI) to attempt to resolve liquidity problems of the banking system. The contingencies fund was applied in 1995 during the Mexican peso crisis to protect Mexican banks. In 1998, it was replaced by Instituto para la Protección al Ahorro Bancario, Mexico's current deposit insurance agency.
Banking, financial services and insurance (BFSI) is the industry's umbrella term for companies that provide a range of such financial products or services. This includes universal banks that provide a range of financial services or companies that operate in one or more of these financial sectors. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities.
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets and Fourth largest by Market capitalisation. It sells financial services to large and mid-size companies, SMEs and retail businesses.
CaixaBank, S.A., formerly Criteria CaixaCorp, is a Spanish multinational financial services company. CaixaBank is based in Valencia, with operative offices in Madrid and Barcelona, Spain. It is Spain's third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers, and has the most extensive branch network in the Spanish market. It is listed in the Bolsa de Madrid and is part of the IBEX 35.
A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that is not legally a bank; it does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market brokering. Examples of these include hedge funds, insurance firms, pawn shops, cashier's check issuers, check cashing locations, payday lending, currency exchanges, and microloan organizations. Alan Greenspan has identified the role of NBFIs in strengthening an economy, as they provide "multiple alternatives to transform an economy's savings into capital investment which act as backup facilities should the primary form of intermediation fail."
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Bajaj Finserv Limited is an Indian non-banking financial services company headquartered in Pune. It is focused on lending, asset management, wealth management and insurance.
Edelweiss Group is an investment and financial services company based in Mumbai. It was co-founded by Rashesh Shah and Venkat Ramaswamy.
US$ 1.3 billion (2012)
