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.
The US Banking System: Origin, Development, and Regulation. Banks are among the oldest businesses in American historyâthe Bank of New York, for example, was founded in 1784, and as the recently renamed Bank of New York Mellon it had its 225th anniversary in 2009. The banking system is one of the oldest, largest, and most important of our industries.