BU111 Lecture Notes - Lecture 2: Debit Card, Digital Currency, The International (Golf)
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BU111 Full Course Notes
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Financial institutions: they facilitate the flow of money from sectors with surpluses to those of deficits, there are four financial pillars, which include chartered banks, alternate banks, insurance companies and other lending and saving intermediaries, and investment dealers. Banks have attempted: changes in consumer demands: consumers turn to organizations that pay higher interests on savings accounts, such as ing. Alternate banks (financial pillar #2: trust companies: safeguards funds and estates entrusted to it. Can function as a transfer agent and registrar for companies. Also prepare and issue dividend cheques to stockholders, accept deposits and pay interest on them: credit unions: cooperative savings and lending associations formed by a group with common interests. Short-term, long-term, or mortgage funds can be borrowed from the credit union. Gaining popularity due to the fact that they offer the same things as a bank and pays dividends to members when profits are made.
