Topic 1 - Introduction to Finance Flashcards
(4 cards)
1
Q
What is Finance formally defined as
A
The creation, acquisition, and management of money
2
Q
Who are the “key players” in financial markets (x6)
A
- Individuals and Households
- Businesses and Corporations
- Banks
- Governments
- Regulators
- Central banks
3
Q
What are Banks
A
Financial institutions who facilitate the exchange of money between savers and lenders
4
Q
What are Regulators responsible for and who are the 3 main financial regulators in the UK
A
Ensuring that individuals, businesses, and banks follow the laws set by governments
1. Financial Policy Committee (FPC)
2. Prudential Regulation Authority (PRA)
3. Financial Conduct Authority (FCA)
