<div class="xblock xblock-public_view xblock-public_view-vertical" data-init="VerticalStudentView" data-course-id="course-v1:MITx+11.405x+2T2020" data-request-token="b3bee87aed4211eeb90016ffd59041e1" data-graded="False" data-usage-id="block-v1:MITx+11.405x+2T2020+type@vertical+block@712cb14e01b04d4e9431c4a8ae548550" data-block-type="vertical" data-runtime-class="LmsRuntime" data-runtime-version="1" data-has-score="False">
<h2 class="hd hd-2 unit-title">What is Banking?</h2>
<div class="vert-mod">
<div class="vert vert-0" data-id="block-v1:MITx+11.405x+2T2020+type@html+block@3f5574a3ea9c44cb895c5de2150d885e">
<div class="xblock xblock-public_view xblock-public_view-html xmodule_display xmodule_HtmlBlock" data-init="XBlockToXModuleShim" data-course-id="course-v1:MITx+11.405x+2T2020" data-request-token="b3bee87aed4211eeb90016ffd59041e1" data-graded="False" data-usage-id="block-v1:MITx+11.405x+2T2020+type@html+block@3f5574a3ea9c44cb895c5de2150d885e" data-block-type="html" data-runtime-class="LmsRuntime" data-runtime-version="1" data-has-score="False">
<script type="json/xblock-args" class="xblock-json-init-args">
{"xmodule-type": "HTMLModule"}
</script>
<p style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: left; direction: ltr; unicode-bidi: embed; mso-line-break-override: none; word-break: normal; punctuation-wrap: hanging;"><span style="color: #000000;">Many of us taking this course have a bank account, use a credit or debit card, have taken out a loan, or we may even work at a bank or in the financial industry.<span style="mso-spacerun: yes;"> </span>Despite the fact that we interact with money and some form of banking on a daily basis, how well do we really understand the basics of banking?<span style="mso-spacerun: yes;"> </span></span></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: left; direction: ltr; unicode-bidi: embed; mso-line-break-override: none; word-break: normal; punctuation-wrap: hanging;"><span style="font-size: 12pt; font-family: 'Open Sans', Verdana, Arial, Helvetica, sans-serif; color: #000000;"><span style="mso-spacerun: yes;"><br /></span>The following video will help illustrate what banks are before we take a deeper dive into Module 1.</span></p>
</div>
</div>
<div class="vert vert-1" data-id="block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8">
<div class="xblock xblock-public_view xblock-public_view-video xmodule_display xmodule_VideoBlock" data-init="XBlockToXModuleShim" data-course-id="course-v1:MITx+11.405x+2T2020" data-request-token="b3bee87aed4211eeb90016ffd59041e1" data-graded="False" data-usage-id="block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8" data-block-type="video" data-runtime-class="LmsRuntime" data-runtime-version="1" data-has-score="False">
<script type="json/xblock-args" class="xblock-json-init-args">
{"xmodule-type": "Video"}
</script>
<h3 class="hd hd-2">What is Banking?</h3>
<div
id="video_eb17820e95414100941b055764d1a4d8"
class="video closed"
data-metadata='{"completionPercentage": 0.95, "ytMetadataEndpoint": "", "prioritizeHls": false, "transcriptAvailableTranslationsUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8/handler/transcript/available_translations", "generalSpeed": 1.0, "saveStateUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8/handler/xmodule_handler/save_user_state", "savedVideoPosition": 0.0, "ytApiUrl": "https://www.youtube.com/iframe_api", "end": 0.0, "poster": "https://mitx-edx-video-meta-storage.s3.amazonaws.com/media/video-images/071e88b51e224701aa33dedab6a68a04.jpeg?Signature=D4n7%2BlkrEAtcquKVWt4qE9v6iws%3D&AWSAccessKeyId=ASIA4QDFFSUR6RMCGQXV&x-amz-security-token=IQoJb3JpZ2luX2VjEMT%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCXVzLWVhc3QtMSJIMEYCIQDXBktLdfd%2BNidHJ5pa5xLkuOwJvi%2F2cTw4KKdy3jWlrQIhANIpDoNK8l07fevseMaFyXDUssAeugz9M3Q8tRFzuo9xKsUFCN3%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEQAxoMODU5MjA1NjM3NDExIgx%2Bc76bKR5XDa6hQOsqmQXm2xrD2qctf9SvXvys3621k8Ro%2FrD%2Fn8LTWfPUUytaAnI9T697PveHEIDZp1IsmG7N9PPrBrTw0YizC0YqwTUYATw%2BzxG8%2FNDt6YYohV3ZxnX5q4Ra0QHnFdFPK2Y%2BtRPoIC7h0Mj6mEE3novJ6Vpk8zow9hM10ttKy4%2FPzKqleMNkG5dIXn3tqOPfEiABw2nO9jFLvBb37NBi4uVOMkDTjn7nHgORTIQoQhcm%2BFyXrKEgYDkCqBVaQsf0VJbGGzL75JvTsiNx9lHsCl2KSTdwQQ0mEsEy2SNTV9BCXf5%2Fj0B5dfOgnB4IT%2F2uB4ENJvkAXASAAIkXTI7Bk2uMWncahNaDlXEeBo6emEnQMoCviWT1z5teWi15UL7DUcN1vySsrbhGAtohtO%2Bb3W%2B0CeRmcTWe4AQKscwWozqgZpKtvzcVQCi6etIzliHJus5Inw7P8mg78HFEHnz5ZYf4OOsLtJt1vZiJ8JRKXPdNn5jvwlH%2Bu8j3vM7cUpx6SXNJDEDHFgQ2nEym6ppd%2BaNXK5UsZXUHMzColEwerf1McrNNpAfW%2FGS%2FyimyOM90XrK9Tc7CWlIFbqbOhDpeE12yTbsRp%2FkPSYBFF8OCU806X4GH6Gnde69CpRZPnKkgrwk8GLtnLF%2FJG%2Brkxu9qBEtnubbkWkE2KQ2egaDtq1lHqSde3jxt2UdsQEGLwGuB5FXkggavy8tQFZ5tJI%2F7M1iRbAhjnQWqKuUkKJ3HFMYKM3Ri6ILUJpppWdyMiRk4EKjWFzkUIi5QE0Uyl7jtg1zKE8Daegb4p%2BlIujew1WMvvyJLiSF0Vs2NR9UI4s5hy5dr4lSjKIRIANYOvFPfx8cUZbDuwuTW5tAjZGFMpMaT1J3DBU1VW9zp2kuFUjC9lZewBjqwAduf2QCj1%2BPgUMWESv2lWM4tNOG1RtU8zYd%2Bwoaehw%2BmOKGgNifEyQPaXjjDoK%2Fe4eyqqRlWN%2BBSXYy4fkRu40foZ1HQPnv3Gfz0nEqETQVCfLPuA4KElz8M15YLWTUiPrF4ciQUnzKZiyK%2FhsjuQLflODaD01SauLGQsWIdN4s%2F4acvxq5bS6taJpXOmuuoONGusyvyixuMHuaE2XKPGxh3UlJxSrisiqjhSBvNq6r9&Expires=1711658423", "ytTestTimeout": 1500, "completionEnabled": false, "streams": "1.00:Mzyuks3QRSY", "publishCompletionUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8/handler/publish_completion", "showCaptions": "true", "start": 0.0, "sources": ["https://d2f1egay8yehza.cloudfront.net/MIT11405/MIT114052016-V003300_DTH.mp4", "https://d2f1egay8yehza.cloudfront.net/MIT114052016-V003300/MIT114052016-V003300.m3u8"], "autoplay": false, "captionDataDir": null, "recordedYoutubeIsAvailable": true, "saveStateEnabled": false, "transcriptLanguages": {"zh": "Chinese", "en": "English", "fr": "Fran\u00e7ais", "de": "German", "it": "Italian", "pt": "Portuguese", "es": "Spanish"}, "transcriptTranslationUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8/handler/transcript/translation/__lang__", "autoAdvance": false, "autohideHtml5": false, "lmsRootURL": "https://openlearninglibrary.mit.edu", "speed": null, "transcriptLanguage": "en", "duration": 298.56}'
data-bumper-metadata='null'
data-autoadvance-enabled="False"
data-poster='null'
tabindex="-1"
>
<div class="focus_grabber first"></div>
<div class="tc-wrapper">
<div class="video-wrapper">
<span tabindex="0" class="spinner" aria-hidden="false" aria-label="Loading video player"></span>
<span tabindex="-1" class="btn-play fa fa-youtube-play fa-2x is-hidden" aria-hidden="true" aria-label="Play video"></span>
<div class="video-player-pre"></div>
<div class="video-player">
<div id="eb17820e95414100941b055764d1a4d8"></div>
<h4 class="hd hd-4 video-error is-hidden">No playable video sources found.</h4>
<h4 class="hd hd-4 video-hls-error is-hidden">
Your browser does not support this video format. Try using a different browser.
</h4>
</div>
<div class="video-player-post"></div>
<div class="closed-captions"></div>
<div class="video-controls is-hidden">
<div>
<div class="vcr"><div class="vidtime">0:00 / 0:00</div></div>
<div class="secondary-controls"></div>
</div>
</div>
</div>
</div>
<div class="focus_grabber last"></div>
<h3 class="hd hd-4 downloads-heading sr" id="video-download-transcripts_eb17820e95414100941b055764d1a4d8">Downloads and transcripts</h3>
<div class="wrapper-downloads" role="region" aria-labelledby="video-download-transcripts_eb17820e95414100941b055764d1a4d8">
<div class="wrapper-download-transcripts">
<h4 class="hd hd-5">Transcripts</h4>
<ul class="list-download-transcripts">
<li class="transcript-option">
<a class="btn btn-link" href="/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8/handler/transcript/download" data-value="srt">Download SubRip (.srt) file</a>
</li>
<li class="transcript-option">
<a class="btn btn-link" href="/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@eb17820e95414100941b055764d1a4d8/handler/transcript/download" data-value="txt">Download Text (.txt) file</a>
</li>
</ul>
</div>
</div>
</div>
</div>
</div>
</div>
</div>