Monetary financial institutions consists of all financial corporations and quasi-corporations, who are engaged in receiving deposits or substitutes for deposits. They also grant loans or make investments in securities.
MFI’s are essentially banks + other financial institutions which may receive deposits and give loans. MFI’s don’t include Central Bank
Examples of MFI’s
- Commercial banks, ‘universal’ banks, ‘all-purpose’ banks;
- Savings banks (including trustee savings banks and savings banks and loan associations);
- Post office giro institutions, post banks, giro banks;
- Rural credit banks, agricultural credit banks;
- Co-operative credit banks, credit unions;
- Specialised banks (e.g. merchant banks, issuing houses, private banks)
- Corporations engaged in granting mortgages (including building societies, mortgage banks and mortgage credit institutions);
- Mutual funds (incl. investment trusts, unit trusts and other collective investment schemes, e.g. undertakings for collective investment in transferable securities-UCITS);
- Municipal credit institutions.