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 Glossary of Political Economy Terms. Federal Reserve System. The central bank for the United States banking system and the institution that holds the primary responsibility for the making and execution of American monetary policies. Its bank notes circulate today as the United States' everyday paper currency.