Financing instruments can be classified according to different standards:

1. According to the liquidity (acceptability) of financing instruments, it can be divided into completely liquid financial instruments and limited financial instruments. The former refers to bank bills and demand deposits, which have been widely accepted by the public. The latter refers to financing instruments that can be circulated and transferred under certain conditions, such as commercial bills, certificates of deposit, stocks and bonds.

2. According to the nature of the issuer, it can be divided into direct securities and indirect securities. Direct marketable securities refer to stocks, bonds, treasury bills, public bonds, mortgage contracts, loan contracts and other documents issued or signed by industrial and commercial enterprises, governments or individuals, while indirect marketable securities refer to banknotes, deposits, large negotiable certificates of deposit and life insurance policies issued by financial intermediaries.

3. According to the length of repayment period, it can be divided into short-term financing instruments and long-term financing instruments. Short-term financing instruments refer to credit certificates with a term of less than one year. Such as commercial paper, bank notes, short-term treasury bills, checks, credit cards, etc. Long-term financing instruments refer to credit certificates with a maturity of more than one year, such as government bonds, stocks and mortgage contracts.