Financial sector Flashcards
1
Q
What is the financial sector?
A
That part of the economy involved in financial businesses.
2
Q
What do these financial businesses act as
A
the link between spenders and savers, so that they are called “Financial intermediaries”. They are involved in money transactions and the provision of finance to individuals, firms and government
3
Q
what does the financial sector consist of?
A
-Central bank at the top of the sector
- commercial banks
- other non-bank financial institutions (building societies, credit unions, development banks, insurance companies, stock exchange
