Answer :
Final answer:
Investment banks do not take customer deposits, unlike commercial banks, savings banks, and credit unions. They focus on investment banking services like underwriting and trading securities.
Explanation:
Investment banks do not take customer deposits. Unlike commercial banks, savings banks, and credit unions that accept deposits from individuals, investment banks primarily focus on providing services such as underwriting, mergers and acquisitions, and trading securities.
For example, investment banks like Goldman Sachs and Morgan Stanley assist corporations in raising capital through issuing stocks and bonds, but they do not typically deal with individual customers' deposits.
In the context of financial institutions, deposit-taking institutions like commercial banks, savings banks, and credit unions cater to individual depositors, while investment banks mainly engage in investment banking activities.
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