financial institution

Found in thesaurus: institution, establishment

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establishment dealing with monetary matters

English Wikipedia - The Free Encyclopedia

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Financial institution

In finance and economics, a financial institution is an institution that provides financial services for its clients or members. One of the most important financial services provided by a financial institution is acting as a financial intermediary. Most financial institutions are regulated by the government.

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financial institution

Noun
1. an institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets
(synonym) financial organization, financial organisation
(hypernym) institution, establishment
(hyponym) giro

Campbell R. Harvey's Hypertextual Finance Glossary

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Financial institution

An institution whose primary business and function is to collect money from the public and invest it in financial assets such as stocks, bonds, etc.

UNODC Money-Laundering Terms

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Financial Institution

An institution that collects funds from the public to place in financial assets such as stocks, bonds, money market instruments, bank deposits, or loans. Depository institutions (banks, savings and loans, savings banks, and credit unions) pay interest on deposits and invest the money mostly in loans. Non-depository institutions (insurance companies and pension plans) collect money by selling insurance policies or receiving employer contributions and pay it out for legitimate claims or for retirement benefits. Increasingly, many institutions perform both depository and non-depository functions. For instance, brokerage firms now place customer's money in certificates of deposit and money market funds and sell insurance.