Financial services functions and roles

Introduction:The fiscal systems ar markets that exist in ein verity terra firma (as long as money is involved, so is the pecuniary system)It is an inbred part of the economyIt also help in the growth and familiarity of the economyIts main role is to provide services that help public debate to operate correctly and smoothlySince it has a huge impact on the economy and deeply involved with money, there is a postulate of controlling and supervising. Thus the pecuniary system ?is the totality of the financial transactions that take place and the financial instruments that they give pay back to? (Mason 1976: xiv). It comprises a ne iirk of financial institutions and financial markets. Body: pecuniary institution (financial intermediaries): ?All organisations that specialize in handling financial transactions whether as principals, agents or consultants? (Mason 1976: xiii). These institutions atomic number 18 divided change form into 2 categories which are deposit and non deposit intermediaries. These two types would therefore be further broken down into even smaller institutions. Both having advantages and disadvantages of their own. 1.Deposit intermediaries: Nowadays there are not genuinely much different between them except the regulatory constraints implement on them- how they are limited by legal arbiter (Kim 1993:32).

Banks (all banking institution: deposit banks, overseas banks, merchant banks): (Mason 1976: xiii) a non-mutual organization, ordinarily a corporation which main function is to acquire monetary resource from surplus economic units and channel such funds to shortfall units (Gup 1980: 31). Sometimes they even invest in secur ities, collect checks, drafts, notes. Banks ! are where most transactions are made. In doing this they help two the investors to save, make money and also producers to finance their productions and companies. Building societies: a mutual financial institution (smaller than banks) which is owned by the members and for the members only. Their exemplar purpose is to help their members in... If you want to get a in force(p) essay, order it on our website: OrderEssay.net

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