What is banking sector?

Answer 1

This is a place we society puts its money (liquid assists). The bank, in-order to stay in business, will in return loan out your money in other forms (such as loans, bonds). The bank however, has to fallow a set of rules dictated from the Federal Reserve, the most important is that all banks (in America) must meet the reserve requirement that is roughly 10%. Anything over the reserve requirement is called 'Excess Reserve' in which the bank will wither save in the volt or find appropriate way to earn more interest.

Answer 2

financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties

Answer 3

a bank.