Question

What are 2 forms of financial institutions

Answer 1

Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies;

Contractual institutions – insurance companies and pension funds.

Answer 2

The answer is Non-depository and Depository.

Step-by-step explanation:

This depends on whether the institution has the legal capacity and the authority to keep deposits from the public.

for an example, an insurance company falls under Non depository while a licensed commercial bank or a savings bank falls under depository category.