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31 January, 08:02

What are 2 forms of financial institutions

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  1. 31 January, 08:06
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    The answer is Non-depository and Depository.

    Explanation:

    This depends on whether the institution has the legal capacity and the authority to keep deposits from the public.

    for an example, an insurance company falls under Non depository while a licensed commercial bank or a savings bank falls under depository category.
  2. 31 January, 08:08
    0
    Depository institutions - deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies;

    Contractual institutions - insurance companies and pension funds.
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