What a âBismarck donutâ is depends on where you liveâ¦ I know that the definition is different in other places. In the midwest of the US, this is a Bismarck donut: Itâsâ¦ basically just a jelly doughnut. Round, filled with fruit jam, fried, topped with sugar or drizzled with icing sometimes. Also, this is a Bismarck pancake:
A banking system is a group or network of institutions that provide financial services for us. These institutions are responsible for operating a payment system, providing loans, taking deposits, and helping with investments.
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries.