B1 features of financial institutions

Question 1

what are the different types of financial institutions?

Answer 1

Bank of England, Banks, Building societies, Credit Unions, National saving and investment, Insurance companies, Pension companies, Pawnbrokers, Payday loans

Question 2

What are the key features of the bank of England?

Answer 2

-UK’s central bank ensures financial stability of the UK
-Sets interest rates for the country , prints bank notes and stores gold bars
-Not a commercial bank; doesnt lend money to the general public