Money and Banking: Types of Financial Institutions, Funding Structure, and Impact of Bank Failure on Economy
VerifiedAI Summary
This article discusses the different types of financial institutions such as banks, insurance companies, stock brokerage firms, and credit unions. It also covers the funding structure of commercial banks and how it has changed over the years. The article also explores the impact of bank failure on the economy and presents arguments in favor of not allowing banks to fail. The data presented in the article is specific to the Australian financial system.