Basic ecomonic terminology. Искренко Э.В - 8 стр.

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                 DEPOSITORY FINANCIAL
                 INSTITUTIONS

      1. Financial institution — an institution whose role is to provide
for the creation, use, and flow of money.
      2. Commercial bank — a privately owned, profit-seeking
depository financial institution that serves its customers by accepting
deposits that can be withdrawn on demand, by accepting savings
deposits, and by making loans.
      3. Depository institution — a financial institution that is
authorized to accept deposits that are withdrawable by check.
      4. Savings and loan association (S&L) — a depository institution
that accepts deposits from the general public and lends funds mainly
for mortgages on homes and other real estate.
      5. Savings bank — a depository institution that accepts deposits
mostly from small savers, pays them interest and invests the funds
mainly in real estate mortgages and government securities.
      6. Credit union — an association of persons who are employed
at the same firm or are members of the same labor union which
sells shares to (accepts deposits from) its members and makes
loans to them.
      7. Mutual savings banks — depository financial institutions
that are owned by their depositors and that, like S&Ls, use their
savings deposits mainly to make housing loans.
      8. Thrift institutions — financial institutions that make long-
term loans primarily to households.
      9. Commercial finance company — a financial institution that
makes loans to firms using accounts, receivables, inventories, or
equi pment as collateral.
      10. Sales financial company — a financial institution that
specializes in financing installment purchases by consumers and firms.
      11. Consumer (or personal) finance company — a financial
institution that makes personal loans to consumers but not to
businesses.
      12. Financial services company — a financial institution that
offers a range of services that once could be had only by going to
several financial institutions.


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