The Stability Aspects of Near-Banking Financial Intermediaries in the Canadian Post-War Economy

Abstract

The following is a study of the operations of various near-banks during the period 1954 to 1964, including; the caisses populaires and credit unions, the trust and mortgage loan companies, and the sales finance and consumer loan companies . It entails an examination of the contribution to the stock of money and near-money by these near-banks and other financial intermediaries, as well as their role in facilitating the flow of loanable funds from saving to investment . It is our intention to determine the stability implications of these activities through their influence upon; a) the money supply, b) the demand for money, c) the income velocity of money.