MGRL-1100 Chapter Notes - Chapter 10: Initial Public Offering, Private Placement, Dow Jones Industrial Average
9 May 2016
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Financial markets- markets that transfer funds from savers to borrowers. Depository institutions- a financial intermediary that obtains funds by accepting checking and savings deposits and then lending those funds to borrowers. Credit unions- a depository institution that is organized as a cooperative, meaning that it is owned by its depositors. Savings and loan associations- a depository institution that has traditionally obtained most of its funds by accepting savings deposits, which have been used primarily to make mortgage loans. Security broker- a financial intermediary that acts as an agent for investors who want to buy and sell financial securities. brokers earn commission and fees for the services they provide. Security dealers- a financial intermediary that participates directly in securities markets, buying and selling stocks and other securities for its own account. Investment banks- a financial intermediary that specializes in helping firms raise financial capital by issuing securities in primary markets.
