Business, Legal & Accounting Glossary
The term money center bank is used to describe the largest financial services firms. There is no precise definition of what is a money center bank, but a money center bank has certain characteristics. First, the money center bank has a very large balance sheet, much larger than even a mid-sized regional bank. Second, the money center bank is involved in all types of commercial lending and related services. Third, the money center bank is involved in not only national but also international money markets. Fourth, the money center bank will likely have a physical presence in some, if not all, of the major financial centers of the world outside its country of origin. Money center bank cities include primary locations London, New York, and Tokyo as well as secondary financial centers such as Hong Kong, Toronto, Paris, Chicago, and Zurich. Any money center bank list should include ABN AMRO, Barclay’s, BNP Paribas, Citigroup, Deutsche Bank, HSBC, JPMorgan Chase, Mitsubishi Tokyo Financial, UBS, and Wells Fargo as archetypes.
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This glossary post was last updated: 17th October, 2021 | 2 Views.