tailieunhanh - Lecture Money and capital markets: Chapter 15 - Peter Rose, Milton Marquis

Chapter 15 - Nonbank thrift institutions: Savings & loans, savings banks, credit unions, and money market funds. In this chapter you will see how significant thrift institutions are in the functioning of a modern economy and financial system, discover what types of services thrift institutions offer to the public and who their principal competitors are, come to understand the principal differences between major types of thrift institutions as well as their principal similarities and why these differences and similarities are important. | Chapter 15 Nonbank Thrift Institutions: Savings & Loans, Savings Banks, Credit Unions, and Money Market Funds Learning Objectives To see the significant roles that thrift institutions play in the functioning of a modern economy and financial system. To learn about the types of services that thrift institutions offer to the public and who their principal competitors are. To understand the principal similarities and differences among the major types of thrift institutions. Introduction Nonbank financial institutions play a vital role in the flow of money and credit within the financial system, especially the home mortgage market and the market for personal savings. Recently however, both bank and nonbank financial institutions are “converging” in terms of the services they offer and the markets they serve. Savings and Loan Associations Savings and loan associations (S&Ls) are among the largest of all thrift institutions, accepting deposits and extending loans and other services .