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.
DEFINITION of 'Fractional Reserve Banking'. A banking system in which only a fraction of bank deposits are backed by actual cash-on-hand and are available for withdrawal. This is done to expand the economy by freeing up capital that can be loaned out to other parties.Most countries operate under this type of system. banking system in which only a fraction of bank deposits are backed by actual cash-on-hand and are available for withdrawal.