COMMERCE 1E03 Chapter Notes - Chapter 18: Initial Public Offering, Time Deposit, Demand Deposit
11 Sep 2018
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Chapter 18: the financial services industry in canada. Credit unions: non-profit, member-owned financial co-operatives that offer a full variety of banking services to their members. Trust company: a financial institution that can administer estates, pension plans, and agency contracts, in addition to other activities conducted by banks. Non-banks: financial organizations that accept no deposits but offer many services provided by regular banks. Pension funds: amounts of money put aside by corporations, non-profit organizations, or unions to cover part of the financial needs of their members when they retire. Money: anything that people generally accept as payment for goods and services. Barter: the trading of goods and services for other goods and services directly. Money supply: the amount of money the bank of canada makes available for people to buy goods and services. Prime rate: the interest rate that banks charge their most creditworthy customers.
