Answer to Question #324820 in Macroeconomics for Moniqs001

Question

short notes on Non-Bank Financial Institutions (NBFI) (Hint: discuss the various NBFIs and their role in the economy)

Answer 1

Examples of nonbank financial institutions include insurance firms, venture capitalists, currency exchanges, some microloan organizations, and pawn shops. These non-bank financial institutions provide services that are not necessarily suited to banks, serve as competition to banks, and specialize in sectors or groups.