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Exam (elaborations)

Exam (elaborations) LIBF

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2022/2023 Written for academic year
Institution LIBF
Course LIBF
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Variety of institutions - ANSWER - different sizes - specific market segments - eg 'young professionals' who need mortgages and personal loans - differing legal structures Interrelation of financial institutions - ANSWER - smaller institutions use clearing services of a larger one - All overseen by Bank of England - Competitions between Financial intermediation - ANSWER - take in money to provide services to make a profit - Provide methods of payments - Safe storage of money - Lend money - Insurance Banks - ANSWER - largest are multinational - Services to personal and business sector - Proprietary organisations (public companies) owned by shareholders eg government - Aim for profit - Also smaller banks just in Uk, not public companies - Subdivided into retail and investment (wholesale) - Large banks do both, universal banks - Now clear divisions between retail and wholesale operations Retail banks - ANSWER - provide to individuals and small-medium sized businesses - Provide money transmission, way to pay and receive money online, debit cards, cheque - Provide savings and investments - Provide lending and insurance Main retail banking firms - ANSWER - NatWest group - Lloyds banking group - Barclays - HSBC

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