Below is a paragraph written by a new intern at your bank highlighting the various aspects of a banks role in the economy as well as the products and services it offers to enhance the economy.

In direct financing, savers and borrowers would definitely need banks to channel their funds. Borrowers look for safety and liquidity as they borrow and which occurs when their total receipts exceed its total expenditures. Maturity transformation is generally when, savers/depositors are willing to lend smaller amounts of money than the amounts required by borrowers. Borrowers perform risk transformation by specializing in a specific type of loans and market. Direct debits are used to pay a fixed amount at regular intervals into the account of another individual or company. Debit transfers are payments where the customer instructs the bank to transfer funds directly to the beneficiarys bank account. Disintermediation was one of the results of the issues that the banking sector faced over the past decade. Overdraft facilities and credit lines are examples of guarantees given by bank to their corporate clients. Reregulation is the process of implementing new rules, removing restrictions and controls. Banks are said to mismatch their assets and liabilities under size transformation when borrowing long and lending long. Banks are said to mismatch their assets and liabilities under size transformation when borrowing long and lending long.

Required:

Since you find that the above paragraph does not accurately reflect the role of banks, rewrite the paragraph reflecting on your knowledge a banks role in the economy as well as the products and services it offers to enhance the economy.