Financial Sector

Sector Chiefs:

Han Brandt

Sector Overview

The financial services sector plays a critical role in our nation's infrastructure. It is under constant threat from various risks such as large-scale power failures, natural disasters, and sophisticated cyber attacks.

This sector includes a wide range of institutions, from large-scale ones with assets over a trillion dollars to smaller community banks and credit unions. They offer various financial products and services that enable customers to:

  • Deposit money and transact with others;
  • Receive credit support and liquidity provisions;
  • Invest their finances for short and long term purposes; and
  • Shift financial risks between clientele.

The financial services sector encompasses numerous types of institutions which are classified according to the services they provide. It includes over 18,800 federally insured depositary organizations; several providers of diverse investment products that include approximately 18,440 broker-dealer, investment advisor, and investment company complexes; providers of risk transfer solutions, counting 7,948 domestic U.S. insurance companies; plus many thousands more organizations offering credit and financing services.