Commercial Banks

About 14.000 commercial banks do business in the United States. A commercial bank is a _____ institution that holds the deposits of individuals and businesses in _____ and savings accounts and then use these _____ to make _____ to individuals, businesses, and the government. Commercial banks in the United States are chartered by either the state or the federal government. While bank charters _____ by states and the federal government do differ, the differences are not noticeable to the individual _____. Table 1 shows the top 15 commercial banks in the United States, based on their _____.

Table 1. Top 15 Commercial Banks in the United States (Based on Total Assets)

Rank	Bank and Head Office	Assets ($ in millions)
	Citibank, New York	$ 164,413,000
	Bank of America, San Francisco	94,127,000
	Chase Manhattan, New York	83,028,946
	Morgan Guarantee of NY, New York	75,051,648
	Bankers Trust, New York	59,937,000
	Manufacturers Hanover, New York	58,783,000
	Security Pacific, Los Angeles	58,460,658
	Chemical Bank, New York	51,195,000
	Wells Fargo Bank, San Francisco	48,520,543
	Bank of New York, New York	44,709,711
	First National Bank of Chicago, Chicago	37,099,251
	NCNB Texas, Dallas	35,606,501
	First National Bank of Boston, Boston	29,341,244
	Continental Bank, Chicago	25,859,126
	Republic of New York, New York	22,339,051

Commercial banks are sometimes called _____ banks. Certainly most offer an extensive _____ of services. In addition to checking and _____ accounts and personal and business loans, commercial banks offer bank _____ cards, safe-deposit boxes, discount brokerage services, wire transfers of funds between banks, financial _____, overdraft protection (for checking _____), traveler’s _____, and trusts.

Trusts are legal _____ set up to hold and manage assets for a designated beneficiary. Funds in a trust are typically _____ in stocks, bonds, real estate, and other investments. Parents often use trusts to _____ their children in the event of their death, especially when the children are too young to _____ their own _____.

Young Americans Bank has an interesting approach to banking. It offers services to customers as young as 11 years old.