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Depository institutions are financial intermediaries that obtain funds by accepting checking and savings deposits from individuals, businesses, and other institutions, and then lending those funds to borrowers.
What are depository institutions?
- Depository institutions are financial intermediaries that receive cash from individuals, businesses, and other institutions by accepting checking and savings deposits and then lending those monies to borrowers.
- In the United States, there are three basic types of depository institutions.
- Commercial banks, thrifts (which include savings and loan associations and savings banks), and credit unions are the three types.
- A depository is an organization, bank, or institution that keeps securities and facilitates their trading.
- A depository provides market security and liquidity, lends money stored for safekeeping to others, invests in other assets, and provides a funds transmission system.
Therefore, depository institutions are financial intermediaries that obtain funds by accepting checking and savings deposits from individuals, businesses, and other institutions, and then lending those funds to borrowers.
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Depository institutions are financial intermediaries that obtain funds by accepting checking and savings deposits from individuals, businesses, and other institutions, and then lending those funds to borrowers.
Answer = Depository institutions
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