1. Insurance Companies
Protect individuals &
corporations (policyholders) Securities Firms &
Depository Institutions
from adverse events. Investment Banks
Commercial & other Banks
Life insurance, Property- Raise debt & equity securities
(accepts deposits and makes
Casualty insurance…) for corporations or
consumer, commercial and real governments; originate,
estate loans) underwrite & place securities in
(Savings associations, Savings money & capital markets.
Banks, Credit Unions…)
Financial
Households/ Institutions
(brokers Corporations
individuals
or
Cash
asset
transformers) Equity & debt
Deposits & insurance policies Cash
Mutual Funds Finance Companies
Financial intermediaries that pool the Make loans to both individuals &
financial resources of individuals and corporation; services include:
companies and invest in diversified consumer lending, business lending,
portfolios of assets. mortgage financing. (do not accept
Pensions Funds (private, public deposits but rely on short- and long-
[SSS, GSIS]) term debt as source of funds)