3.4 Privilege and Facilities of Banks and Financial Institutions

1. Priority in law's processes: banking statutes provide expedited recovery treatment for loan suits, reflecting the fiduciary nature of depositors' money.2. Secrecy's statutory protection: customer information protected by banking-secrecy practice and law (Unit 5).3. Set-off: the banker's right to combine accounts and set off debts against credit balances, within recognized limits.4. Charge creation and priority: secured lending backed by registered charges (with priority questions, Unit 6).5. Access to central bank facilities: refinancing, standing facilities, and the payments system.