page_title: Banking in the United States
hierarchical_section_title: Banking in the United States
caption_attribution_description: First Bank of the United States (1797-1811), Stephen Girard’s Bank (May, 1811-1831), subsequent banks, and owned since 1955 by the National Park Service. Location: 116 South 3rd Street, Philadelphia, PA 19106.
context_page_description: Banking in the United States began in the late 1790s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services namely private banking, asset management, and deposit security.
  The beginnings of the banking industry can be traced to 1790 when the Bank of Pennsylvania was founded to fund the American Revolutionary War. After merchants in the Thirteen Colonies needed a currency as a medium of exchange, the Bank of North America was opened to facilitate more advanced financial transactions.
  As of 2018, the largest banks the United States were JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs. It is estimated that banking assets were equal to 56 percent of the U.S. economy. As of December 31, 2019, there were 5,177 commercial banks and savings institutions in the U.S.
context_section_description: Banking in the United States began in the late 1790s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services namely private banking, asset management, and deposit security.
  The beginnings of the banking industry can be traced to 1790 when the Bank of Pennsylvania was founded to fund the American Revolutionary War.  After merchants in the Thirteen Colonies needed a currency as a medium of exchange, the Bank of North America was opened to facilitate more advanced financial transactions.
  As of 2018, the largest banks the United States were JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs. It is estimated that banking assets were equal to 56 percent of the U.S. economy. As of December 31, 2019, there were 5,177 commercial banks and savings institutions in the U.S.
caption: First Bank of the United States, the country's first central bank under the US Constitution
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