Find the words in the text that match the following definitions.

Think and discuss.

∙ What is a financial institution?

∙ What financial institutions do you know?

In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries. Most financial institutions are regulated by the government. Broadly speaking, there are three major types of financial institutions: 1.Depositary Institutions: institutions that accept and manage deposits; make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; 2.Contractual Institutions: insurance companies and pension funds; 3.Investment Institutes: investment banks and security firms. Financial institutions provide service as intermediaries of financial markets. They are responsible for transferring funds from investors to companies in need of those funds. Financial institutions facilitate the flow of money through the economy. To do so, savings are brought to provide funds for loans. Financial institutions in most countries operate in a heavily regulated environment as they are critical parts of countries' economies. Regulation structures differ in each country, but typically involve prudential regulation as well as consumer protection and market stability. Some countries have one consolidated agency that regulates all financial institutions while others have separate agencies for different types of institutions such as banks, insurance companies and brokers. The United States has separate agencies where the key governing bodies are the Federal Financial Institutions Examination Council (FFIEC). Countries that have one consolidated financial regulator include United Kingdom with the Financial Services Authority, Norway with the Financial Supervisory Authority of Norway, Hong Kong with Hong Kong Monetary Authority and Russia with Central Bank of Russia.

Find the words in the text that match the following definitions.

1)a legal arrangement by which you borrow money from a bank or similar organization in order to buy a house, and pay back the money over a period of years;

2) a person or organization that tries to help two other people or groups to agree with each other;

3) a part of the cost of something you are buying that you pay some time before you pay the rest of it;

4) the official system for providing something, especially something that everyone in a country needs to have;

5) an important system of organization in society that has existed for a long time;

6) to make it easier for a process or activity to happen.

Дата добавления: 2015-11-14