financial intermediary

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1 An institution, be it a bank, building society, finance house, insurance company, investment trust, etc., that holds funds borrowed from lenders in order to make loans to borrowers.

2 In the Financial Services Act 1986, a person or organization that sells insurance but is not directly employed by an insurance company (e.g. a broker, insurance agent, bank). See also independent intermediary.

Subjects: Economics.

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