Which of the following is NOT a financial intermediary?

Question

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Financial intermediaries are institutions that act as a middleman between borrowers and lenders or between investors and issuers. They help to channel funds from savers to borrowers, primarily by accepting deposits from savers and lending to borrowers. Both commercial banks and savings institutions are examples of financial intermediaries because they accept deposits from savers and use that money to lend to borrowers. Mutual funds also act as financial intermediaries by pooling the funds of multiple investors and using those funds to invest in a variety of securities. Government treasuries, however, do not act as financial intermediaries because they are the actual issuers of government securities and do not facilitate the transfer of funds from savers to borrowers.

Which of the Following Is NOT a Financial Intermediary