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Course 337
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… accept and manage deposits, pay interest and use deposits to make loans.
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A function of money that allows it to serve as a common way to express value is called a … .
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Unlike commercial banks and retail banks, … do not take deposits.
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Credit unions are organized as … owned by account holders, also called members.
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Offer a wide variety of services for borrowers and lenders. They are the largest type of financial institution.
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Because of uncertainty about the timing and/or the amount of the cash outlays, a financial institution must be prepared ________.
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money that has value because the government has ordered that it is an acceptable means to pay debts; "legal tender"
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Organizations that act as intermediaries for borrowers and savers. They provide loans, accept deposits, and facilitate financial transactions
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Someone who acts as a link between people in order to try to bring about an agreement or reconciliation
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What is a disadvantage of using bank services?
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