The banking sector refers to the collection of institutions that provide financial services, including accepting deposits, offering loans, and facilitating transactions. These institutions, such as commercial banks, credit unions, and investment banks, play a crucial role in the economy by helping individuals and businesses manage their finances. Banks also contribute to economic stability by regulating the money supply and providing a safe place for people to store their money. They offer various services, including savings accounts, checking accounts, and mortgages, which help customers achieve their financial goals and support overall economic growth.