FI: Firms engaging in the two-stage process of creating secondary financial assets such as savings deposits and exchanging them for money, then exchaning the money for the promary financial assets created by borrowers and others who would use the money.-John Lisdamen
Types of FI:
1. Commercial Banks
2. Credit Unions
3. Savings and Loan Association
4. Small loan companies
5. Mutual Savings Banks
6. Venture Capitalists
7. Investment Banks
8. Insurance Companies
9. Credit Card Companies
10. Thrift and Loan Institutions.
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