We combine the income and capital accounts of nancial intermediaries commercial banks and of nonnancial rms and households to obtain a full accounting of the value of services provided by commercial banks to both depositors and borrowers We track the payments for such services and nd no missing items that need to be imputed for Socalled imputation turns out to be integration of the accounts of nancial institutions with their borrowers and depositors We also nd that a large fraction of banking services are purely intermediate and thus that the net valueadded after integration of the commercial banking sector in the total valueadded of the economy is small We also isolate terms that should be in the national accounts to represent the burden of riskbearing by equity holders an entry for apparent prots of rms Deposits as a stock of money in our economy is analyzed