What is a Non-Financial Institution?
| ✓ Paper Type: Free Assignment | ✓ Study Level: University / Undergraduate |
| ✓ Wordcount: 117 words | ✓ Published: 17th Dec 2020 |
Question
What is a Non-Financial Institution?
Answer
A non-financial corporation is one that engages in the production of market goods and (non-financial) services. Examples include: Apple, Toyota, Nestle and so on. Financial institutions, on the other hand, include banks such as HSBC. A non-bank financial company, on the other hand, is a financial institution that provides related banking services but does not meet the legal definition of a bank. In other words, it is an institution that does not hold a banking license and is not regulated by a banking regulatory agency. Pawnshops and currency exchanges, for example, are some non-bank financial institutions.
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