Abstract
This chapter analyzes the nature of financial intermediation and discusses the variety of financial intermediaries (FIs) that exist. On the nature of financial intermediation, a distinction is made between brokerage and qualitative asset transformation. The various FIs discussed include: depository financial intermediaries (FIs) and nondepository FIs. The depository FIs are: commercial banks, thrifts, and credit unions. The nondepository FIs are: investment banks, venture capitalists, financial companies, insurance companies, mutual funds, hedge funds, and credit-rating agencies. The role of the government is discussed, followed by a discussion of FIs on the periphery: gambling houses, pawnbrokers, payday lenders, title lenders, and loan sharks.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
