All of the following are primary purchasers of treasury securities except commercial banks.
A bank is a financial institution authorized to accept deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are many types of banks, such as retail banks, commercial or corporate banks, and investment banks.
As an important component of the financial system, banks efficiently allocate funds from savers to borrowers. They offer professional financial services that reduce the cost of obtaining information on savings and credit opportunities. Banks do many things, but their main job is to take funds, called deposits, from people who have money, pool them, and lend them to people who need the money. A bank is an intermediary between depositors (who lend money to the bank) and borrowers (to who the bank lends money).
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