(精选)金融学 2 Overview of the Financial System课件.pptVIP

2.4.14 Contractual Savings Institutions (CSIs) All CSIs acquire funds from clients at periodic intervals on a contractual basis and have fairly predictable future payout requirements. Pension and Government Retirement Funds hosted by corporations and state and local governments acquire funds through employee and employer payroll contributions, invest in corporate securities, and provide retirement income via annuities 2.4.15 Investment Intermediaries Finance Companies sell commercial paper (a short-term debt instrument) and issue bonds and stocks to raise funds to lend to consumers to buy du