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Your money and the financial system Page 22
Each day the financial system handles millions
of transactions. These include your spending in
the shops, the payment of your household bills,
wages, benefits and withdrawals from highstreet
cash machines.
PAYMENTS
A stable financial
system provides the
payments services,
finance and insurance
that are crucial to
everyday life.
SAVINGS
& LOANS
INSURANCE
The financial system
brings together savers and
investors to put money to
work. Your savings in a bank
are turned into mortgages
for house purchase, or
loans that finance new
investment in businesses
and create jobs.
Insurance companies
protect you against the risks
in your business or in daily
life. With the protection
of insurance, businesses
can expand with more
confidence helping the
economy grow.