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Secondary banking

Secondary banking is not, as is other banking, primarily concerned with offering a banking service to the public, complete with current and deposit accounts. It is more concerned with transacting the type of business that clearing banks prefer not to dabble in, such as the granting of second mortgages and other high-risk operations. This area of banking has tended to fall into a certain disrepute in the U.K. and the Bank of England charged with keeping a watchful eye upon it.

Reference: The Penguin Business Dictionary, 3rd edt.