Financial Institutions

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Presentation transcript:

Financial Institutions

Learning goal To be able to compare various financial institutions and the services they offer.

Types of Financial Institutions Commercial Banks “Full-Service Banks” Savings & Loan Associations Originally ran by Government.

Types of Financial Institutions Credit Unions Non-Profit Bank for Organizations Brokerage Firms NOT a Bank Provides Investing Advice and Products

Bank Services Checking & Savings Accounts Money Market Accounts Certificates of Deposit Loans Mortgages Safe Deposit Boxes

F.D.I.C. Federal Deposit Insurance Corporation Federal government agency that protects bank accounts Guards against bank panics Insured up to $100,000.00

Learning goal To be able to compare various financial institutions and the services they offer.

The Federal Reserve System

To be able to identify the major functions of the Federal Reserve. Learning goal To be able to identify the major functions of the Federal Reserve.

Federal Reserve System AKA: “The Fed” The central banking organization in the US Set-up by Congress to end financial panics Includes: 12 Federal Reserve District Banks 25 Branch Banks 5,000 Member Banks Run by a board of Directors

12 District Banks 25 Branch Banks

Federal Reserve System 6 Functions of the Fed: Clearing Checks Acting as the Federal Government’s Fiscal Agent Supervising Member Banks

Federal Reserve System 6 Functions of the Fed: (Continued) Regulating the money supply Setting reserve requirements Supplying paper currency

To be able to identify the major functions of the Federal Reserve. Learning goal To be able to identify the major functions of the Federal Reserve.