protects clients against financial losses from certain specified risks (death, accident, and theft, for example)

saves money for individuals, corporations, unions, and some nonprofit organizations to provide retirement income

pools individual investor money and invests in large numbers of well-diversified securities

buys and sells stocks, bonds, and other securities for customers and provides other financial services

underwrites new issues of securities for corporations, states, and municipalities

means by which the Fed controls the amount of money available in the economy

decisions to buy or sell U.S. Treasury bills (short-term debt issues by the U.S. government) and other investments in the open market

the percentage of deposits that banking institutions must hold in reserve

financial institutions that primarily offer savings accounts and make long-term loans for residential mortgages; also called "thrifts"

a financial institution owned and controlled by its depositors, who usually have a common employer, profession, trade group, or religion

financial institutions that are similar to savings and loan associations but, like credit unions, are owned by their depositors

production facilities (plants), offices, and equipment - all of which are expected to last for many years

earnings after expenses and taxes that are reinvested in the assets of the firm and belong to the owners in the form of equity

debts that will be repaid over a number of years, such as long-term loans and bond issues

debt instruments that larger companies sell to raise long-term funds

an arrangement by which a bank agrees to lend a specified amount of money to an organization upon request

backed by collateral that the bank can claim if the borrowers do not repay them

bonds with interest rates that change with current interest rates otherwise available in the economy

a special type of high interest-rate bond that carries higher inherent risks