FINANCE, money matters; the science or conduct of monetary business or affairs. Ex. The millionaire boasted of his skill in finance.
The system by which money matters, such as of a nation, state, or corporation, are managed. Management of government revenue and expenditure is called public finance.
REFINANCING, to finance again or anew, as by arranging new terms, or borrowing to settle notes.

MAKING LOANS. Banks receive funds from people who do not need them at the moment and lend them to those who do. For example, a couple may want to buy a house but have only part of the purchase price saved. If one or both of them have a good job and seem likely to repay a loan, a bank may lend them the additional money they need. To make the loan, the bank uses funds other people have deposited. A major obligation of a bank is to permit depositors to withdraw their funds upon demand. But no bank has enough cash readily available to satisfy its depositors if all were to demand their funds at the same time. Banks know from experience, however, that such a demand-called a run-rarely occurs. If people are confident they can withdraw their funds at any time, they will leave them on deposit at the bank until needed. As a result, banks can loan and invest a large percentage of the funds deposited with them. In most countries, the government limits the percentage of a bank's funds that can be used for loans and investment. The government simultaneously sets a minimum percentage that must be kept on reserve for meeting withdrawals.

A major obligation of a bank is to permit depositors to withdraw their funds upon demand. But no bank has enough cash readily available to satisfy its depositors if all were to demand their funds at the same time. Banks know from experience, however, that such a demand-called a run-rarely occurs. If people are confident they can withdraw their funds at any time, they will leave them on deposit at the bank until needed. As a result, banks can loan and invest a large percentage of the funds deposited with them.

Automobile is the most important means of personal transportation for many millions of people around the globe. People depend on their cars and trucks to travel to and from work, to run errands, to visit friends, and to take vacations. Companies and government organizations operate commercial fleets of automobiles.
The United States, Canada, Japan, Western European countries, and other developed nations have the most automobiles. But even in developing nations, more and more people own cars, and bumper-to-bumper traffic clogs the streets of big cities in many of those countries.