Kinds Of Banking In The United States

According to official figures there are in existence in this country some thirty thousand banks, all of which fall within either one of the following groups:

1. National banks.

2. State banks, which are either

(a) State banks conducting a general banking business;

(b) Trust companies;

(c) Savings banks;

(d) Private banks;

(e) Investment banks;

(f) Bill and paper brokers.

Supervision And Regulation

Federal control is extended only to the national banks, while the State banks, trust companies, savings banks, private and investment banks, and commercial paper dealing establishments are under the direct supervision of the several State governments.