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Home > QFINANCE Dictionary > Definition of virtual bank

Definition of

virtual bank

Banking

bank only accessible electronically a financial institution that offers banking services via the Internet, ATMs, and telephone but does not have a physical location for customers to visit

virtual bank - Related Articles
  • Testing Times: Global Banking Regulation

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    The UK ring-fencing proposal is an attempt to separate out investment banking from commercial banking in a way that flies in the face of the universal banking model popular in continental Europe and throughout many emerging markets. The Volcker Rule under Dodd–Frank, which virtually eliminates
    By Brian Caplen

  • Capitalizing on Social Media Financial Transactions

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    Players of online role-playing games with cash economies, such as Entropia Universe and Second Life, have the option to set up interest-bearing accounts, which they use to deposit their virtual salaries, pay virtual bills or lend virtual cash via the virtual banks.
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  • Structured Investment Vehicles

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    A structured investment vehicle, or SIV, is a limited-purpose operating company or “virtual bank” that undertakes arbitrage activities by purchasing mostly highly rated medium- and long-term fixed-income assets. These assets are funded though the issue of short-term, highly rated commercial paper

  • A Lesson in Austrian School Economics: The Real Cause of the Crash

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    recorded on the liability side of banks’ balance sheets. So new money—or I should say new “virtual money” because it only “materializes” in bank accounting book entries—is constantly created through this process of artificial credit expansion. In fact, only around 10% of the money supply of most important economies is in the form of cash (paper bills and coins), while the remaining 90% is this virtual money that only exists as written entries in banks’ accounting books
    By Jesús Huerta de Soto

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Definitions of ’virtual bank’ and meaning of ’virtual bank’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’virtual bank’ and other financial terms with our online QFINANCE Financial Dictionary.

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