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RETAIL BANKING CONCEPT FROM A FORMAL PERSPECTIVE
Authors: Oleg STRATULAT
Number of views: 168
Expressions like “retail banking”, “retail
banking products”, “retail banking services” have
become very widespread in recent years in the
banking environment, the media, the scientific
literature, etc. In addition, such phrases are more
and more often found in normative acts. However,
there is no definite understanding of those terms.
In literature, in order to define the phenomenon,
various general and evasive features are used.
At the same time, for accounting, taxation,
reporting, statistics, but especially for prudential
regulation, an exact delimitation of retail banking
is necessary.
This article is dedicated to an overview of
the existing views on the notion of “retail
banking” and its clarification from a formal point
of view.