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    placement of attracted funds to its own behalf...

    I just couldn't find out the meaning of the underlined sentence. Could anyone please simplify it for me?

    The main activities are:
    - Attracting funds from legal entities (deposits);
    - Placement of attracted funds on its own behalf and for its account on the terms of repayment and maturity;
    - Opening and maintaining bank accounts of legal entities;
    - Settlement and cash services to individuals and legal entities, including correspondent banks;

  1. Tarheel's Avatar
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    Re: placement of attracted funds to its own behalf...

    If this has to do with finances and you are going to commit money to something, then you better make sure that you understand everything. Also, the phrase in question is, well, a phrase and not a sentence. (I have no idea what it means.)

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