Which of the following financial intermediaries is NOT a depository institution?
A)commercial bank
B)investment bank
C)trust company
D)credit union

Question

Quizplus · Accepted Answer

Investment banks are not depository institutions because they do not accept deposits from customers. Instead, they primarily engage in underwriting securities and helping corporations raise capital through the issuance of stocks and bonds. The other three choices (commercial banks, trust companies, and credit unions) are depository institutions because they accept deposits and offer a range of banking services to customers.

Which of the Following Financial Intermediaries Is NOT a Depository