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asset Anything of value central banks Government banks that regulate and manage money supply commercial banks Most common form of government-backed corporate bank depository intermediary Holds funds for the public and uses the funds to finance their business deregulation The loosening of government control liability To banks, deposits represent this type of obligation liquid asset Anything of value that can be readily exchanged medium of exchange An agreed-upon system for measuring value of goods and services niche market A targeted smaller group of customers non-depository intermediary A private company that does not receive deposits but sells financial services profit Revenue minus cost spread The difference between interest paid and interest received merger Occurs when one or more banks join or acquire another bank or banks