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Untitled2_24 - composing depository institutions totalling...

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The evolution in the number and size (in terms of total assets) of both commercial banks and S&Ls is shown in Figures 2.2 and 2.3. Figure 2.2: Trend in the size of US depository institutions Figure 2.3: Trend in the number of US depository institutions Source: Tables created using data from http://www2.fdic.gov/qbp/qbpSelect.asp?menuItem=STBL Credit unions Credit unions are non-profit institutions mutually organised and owned by their members (depositors). Their primary objective is to satisfy the depository and lending needs of their members, who have to belong to a particular group (identified by occupation, association, geographical location). The member’s deposits are used to provide loans to other members, and earnings from these loans are used to pay a higher rate to member depositors. They are the most numerous among the institutions
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Unformatted text preview: composing depository institutions, totalling about 8,535 in 2006 according to the Credit Union National Association. Contractual savings institutions Contractual savings institutions acquire funds at periodic intervals on a contractual basis. The industry is classified into two major groups: insurance companies and pension funds. The liquidity of their assets is less 24 Principles of banking and finance 18 2.000.000 4.000.000 6.000.000 8.000.000 10.000.000 12.000.000 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 Total assets ('000 US$) Commercial banks S&L 2.000 4.000 6.000 8.000 10.000 12.000 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 Number Commercial banks S&L...
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