Total assets of mutual funds exceed those of commercial banks.

Question

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Mutual funds pool money from many investors and invest it in a diversified portfolio of stocks, bonds, or other assets. Commercial banks, on the other hand, accept deposits from customers and make loans to businesses and individuals. As of 2021, the total assets of mutual funds in the United States exceeded $23 trillion, while the total assets of commercial banks were approximately $19 trillion.

Total Assets of Mutual Funds Exceed Those of Commercial Banks