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Roles of Banks and Building societies.

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  • Essay length: 1238 words
  • Submitted: 15/01/2013
  • Awarding body: AQA (for A-levels)
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AS and A Level Accounting & Financial Management

The first 200 words of this essay...

Ali Raza

Unit 4 Finance for business

Task 1

Introduction: in this task I am going to give some definitions and examples about some topics in finance in business.

High street banks

High streets banks are the local banks you see on high street or in town centre. All High Street Banks are public limited companies (PLC). So their liability is limited. They deliver financial service to the members of public and some local or national businesses. The types of services High Street Banks provides are credit and debit cards, mortgages, loans, investment, accounts, insurance, pensions and standard orders and direct debits.

However, before they can become public to enable them to sell shares on the stock exchange. There are three legal requirements which are stated in the law to become a PLC. They have to have £700,000, have 25% of shares to be floated and have to have been existed or trading for at least five years. High Street Banks are more risky due to money being borrowed from government from tax payers and banks can get into serious debt and can even go bust. High Street banks increase and decrease

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