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-{{a|glossary|[[File:Life savings.jpg|450px|thumb|center|A monstrous oppressor of the proletariat squirrelling away the sweat and tears of your toil, yesterday]]}}A big, bad, proletariat-munching behemoth without which the industrial revolution could not have happened and which is therefore an [[Causa sine qua non|operating cause]] of your iPhone, you horrid little anti-capitalist ingrate.
+{{a|banking|{{image|Life savings|jpg|A monstrous oppressor of the proletariat squirrelling away the sweat and tears of your toil, yesterday}}}}A big, bad, proletariat-munching behemoth without which the industrial revolution could not have happened and which is therefore an [[Causa sine qua non|operating cause]] of your iPhone, you horrid little anti-capitalist ingrate.
-Known more politely — but [[tedious]]ly — in the {{tag|EU}} as a [[credit institution]] under [[:Category:EU Legislation|European law]], to which [[Brexit means Brexit|the United Kingdom may not be subject for much longer]], which basically boils down to being a “[[bank]] domiciled in the {{tag|EU}}” (which UK banks may not be for much longer).
+Banks can come in all shapes and sizes, every one of which is [[calculated]] to make wide-eyed, revolutionary, sociology students cross.
+The best<ref>Activate «Irony» mode.</ref> kind is an [[investment bank]], but ''all'' [[banks]] want only to relieve you of your [[money]] — and to inflict general suffering on the downtrodden masses who can’t fight back, obviously.
+===Assets and liabilities===
+Banks are in the business of acquiring “financial assets”, mainly in the shape of loans of one sort or another that they extend to their customers and for which they receive interest and the repayment of principal; these they fund with [[liabilities]] — which are usually organised in a “[[capital structure]]” with customer deposits at the top, term loans, [[commercial paper]], senior debt, next, then [[subordinated]] debt, then [[contingent convertible securities]] which may, or may not,<ref>If you are [[Credit Suisse]].</ref> sit just ahead of a thin slice of [[shareholder equity]]: “[[tier 1 common equity]]” which is the cushion between heath, wealth and good fortune over hand, and apocalyptic insolvency on the other.
-Banks can come in all shapes and sizes, every one of which is [[calculated]] to make wide-eyed, revolutionary, sociology students cross.
+Now there’s a profound credit asymmetry between financial ''assets'' and financial ''liabilities'', and it works against the bank: on one hand, your assets may decline in value, if debtors cannot repay you, a matter largely outside your control; on the other, your liabilities, as long as you remain a going concern, must be repaid in full and that is that.<ref>It is true some financial “wizards” did try to change that in the run up to the last [[global financial crisis]], with sleight-of-hand accounting called [[debt value adjustment]]s, these people were rightly pelted in the street with cabbage in its aftermath and haven’t been heard from since.</ref>
-The best kind is an [[investment bank]], but ''all'' [[banks]] want only to relieve you of your [[money]] — and to inflict general suffering on the downtrodden masses who can’t fight back, obviously.
 {{sa}}
 *[[Bank account]]
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 *[[Broker/dealer]]
 *[[World-wide anti-capitalist riots of 2015]]. Yes, that’s right. It’s a broken link. There is no article about the goddamn anti-capitalist riots.
+{{Ref}}