Liability

The side of the bank's balance sheet dealing with borrowings - that is deposits, formal loans to others. Also share capital.

REMARKS

This is a present obligation arising from a previous transaction (or event) which appears on the balance sheet.

These are often split into different types, either current liabilities (liquidated within the year) or long-term liabilities (longer than a year).

A debt usually decreases a liability and a credit usually increases a liability