Proposed New Industry Structure for Finance and Insurance

By U. S. Census Bureau Department

Book Id: WPLBN0000590728
Format Type: PDF eBook:
File Size: 0.1 MB
Reproduction Date: 2005

Title:	Proposed New Industry Structure for Finance and Insurance
Author:	U. S. Census Bureau Department
Volume:
Language:	English
Subject:	Government publications, Census., Census report
Collections:	Government Library Collection, U.S. Census Bureau Collection
Historic Publication Date:
Publisher:	United States Census Bureau Department


Citation APA MLA Chicago Census Bureau Department, B. U. (n.d.). Proposed New Industry Structure for Finance and Insurance. Retrieved from http://gutenberg.cc/

Description
Statistical Reference Document

Excerpt
Excerpt: The Finance and Insurance sector consists of establishments primarily engaged in financial transactions ? that is, transactions involving the creation, liquidation, or change in ownership of financial assets ? or in facilitating financial transactions. Three principal types of activities can be identified: Some establishments raise funds by taking deposits and/or issuing securities, and, in the process, incur liabilities. They use these funds to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale and risk. This activity is known as financial intermediation, and that term will be used in the rest of this agreement. Some establishments are engaged in the pooling of risk. They collect fees ? insurance premiums or annuity considerations; build up reserves; invest those reserves; and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment. Some establishments are engaged in providing specialized services facilitating, or supporting, financial intermediation, insurance, and employee benefit programs.

Table of Contents
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