工商导论.pptVIP

Savings and Loan Associations (储蓄贷款协会) Mutual Savings Bank （互助储蓄银行） Credit Unions (信用社) Other Financial Institutions （其他融资机构） By——林青清 Savings and Loan AssociationsSLs Quite similar to commercial banks, the SLs accept deposits (保证金)and make loan, and must be chartered either by individual states or by the government. The difference is that most of the loans that SLs make are for home mortgages(住房抵押). Mutual savings bankMSBs The MSBs are located in the northeastern part of the US. Compare the SLs, the major difference is in ownership. MSBs are owned by their depositors and the profits or losses are shared among the owners in proportion to their deposits. Credit Unions(信用社) Credit unions are non-profit cooperatives organized to meet the needs of their members. Usually associated with the same organization (e.g. a business firm, a university, or trade union), the members of a credit union put their saving in a pool and make loans to members. The other financial institutions 1、Pension funds（养老基金）is a pool of funds created and managed to provide retirement income for the members. 2、Insurance companies(保险公司) take a lot of funds from premiums. They invest these funds in stocks, real estate, government securities and other assets, and earn profits to pay for insured losses. Thanks Checks Demand deposit M-2, consists of everything in M-1 plus time deposits, money-market mutual funds and other items, cannot be spent directly but can easily converted to spendable forms. Time deposit Advantage: high interest rates Disadvantages: no check can be written against them and prior notice Demand deposit Advantage: convenient for daily life Disadvantage: basically interest-free 货币市场共同基金（Money Market Mutual Funds, 简称MMMFs) 共同基金是将众多的小额投资者的资金集合起来，由专门的经理人进行市场运作，赚取收益后按一定的期限及持有的份额进行分配的一种金融组织形式。对于主要在货币市场上进行运作的共同基金，成为货币市场共同基金。货币市场共同基金是一种特殊类型的共同基金，是没过20世纪70年代以来出现的一种新型投资理财工具。购买者按固定价格购入若干个基金股份，货币市场共同基金的管理者就利用这些资金投资于可获利的短期货币市场工具(如国库券