A bank is an institution that provides financial service,
particularly taking deposits and extending credit. Currently the
term bank is generally understood as an institution that holds a
banking license. Banking licenses are granted by bank regulatory
authorities and provide rights to conduct the most fundamental
banking services such as accepting deposits and making loans.
There are also financial institutions that provide certain
banking services without meeting the legal definition of a bank,
a so called non-banking financial company. Banks have a long
history, and have influenced economies and politics for
centuries. The word bank is derived from the Italian banca,
which is derived from German language and means bench. The terms
bankrupt and "broke" are similarly derived from banca rotta,
which refers to an out-of-business bank, having its bench
physically broken. Money lenders in Northern Italy originally
did business in open areas, or big open rooms, with each lender
working from his own bench or table