Foreign banks were allowed to continue their operations but could no longer accept local deposits.
A part of the business was making loans and accepting deposits from customers.
A bank accepts deposits from lenders, on which it pays interest.
While the two troubled companies cannot accept deposits, they can still make loans, and so are known here as nonbanks.
The bank will, however, accept limited deposits from nonprofit groups.
Their central bank accepts deposits from residents in exchange for domestic currency.
Both were allowed only to make loans, not to accept deposits.
One type, which he calls a core bank, would accept Government-insured deposits, much as banks do today.
Furthermore the bank will accept deposits from financial institutions with interest at 0.25% less than the official cash rate.
These are finance companies that make loans but do not accept deposits.