Financial Institutions

Markets and Money, EMEA Edition

Häftad, Engelska, 2019

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Beskrivning

Kidwell's Financial Institutions, 12th Edition presents a balanced introduction to the operation, mechanics, and structure of the U.S. financial system, emphasizing its institutions, markets, and financial instruments. The text discusses complex topics in a clear and concise fashion with an emphasis on "Real World" data, and people and event boxes, as well as personal finance examples to help retain topical interest.

Produktinformation

Utgivningsdatum:2019-05-17
Mått:10 x 10 x 10 mm
Vikt:454 g
Format:Häftad
Språk:Engelska
Antal sidor:678
Upplaga:12
Förlag:John Wiley & Sons Inc
ISBN:9781119589983

Utforska kategorier

Redovisning och finansiering inom Ekonomi och Ledarskap

Innehållsförteckning

Part I The Financial System 1Chapter 1 An Overview of Financial Markets and Institutions 31.1 The Financial System 41.2 Financial Markets and Direct Financing 71.3 Types of Financial Markets 121.4 The Money Markets 141.5 The Capital Markets 151.6 Financial Intermediaries and Indirect Financing 171.7 Types of Financial Intermediaries 231.8 The Risks Financial Institutions Manage 281.9 Regulation of the Financial System 291.10 Ethics and the Financial System 33Chapter 2 The Federal Reserve and Its Powers 382.1 Origins of the Federal Reserve System 392.2 The Current Structure of the Fed 442.3 Monetary Powers of the Board of Governors 472.4 The Fed’s Regulatory Powers 472.5 Independence of the Fed 512.6 The Fed’s Balance Sheet 532.7 The Fed’s Role in Check Clearing and the Growth of Electronic Payments 592.8 Federal Reserve Tools of Monetary Policy 61Chapter 3 The Fed and Interest Rates 713.1 Federal Reserve Control of the Money Supply 723.2 The Fed’s Influence on Interest Rates 753.3 The Treasury Department and Fiscal Policy 793.4 Goals of Monetary Policy 823.5 The Fed and the Economy 883.6 Complications of Monetary Policy 913.7 Anatomy of a Financial Crisis 93Part II How Interest Rates are Determined 105Chapter 4 The Level of Interest Rates 1074.1 What are Interest Rates? 1084.2 The Real Rate of Interest 1094.3 Loanable Funds Theory of Interest 1114.4 Price Expectations and Interest Rates 1144.5 A Restatement of the Fisher Equation 1164.6 Forecasting Interest Rates 1224.7 Interest Rates and Currency Values 124Chapter 5 Bond Prices and Interest Rate Risk 1275.1 The Time Value of Money 1285.2 Bond Pricing 1315.3 Bond Yields 1365.4 Important Bond Pricing Relationships 1405.5 Interest Rate Risk and Duration 144Chapter 6 The Structure of Interest Rates 1596.1 The Term Structure of Interest Rates 1606.2 Default Risk 1726.3 Tax Treatment 1766.4 Marketability 1806.5 Options on Debt Securities 1806.6 Behavior of Interest Rates over the Business Cycle 183Part III Financial Markets 189Chapter 7 Money Markets 1917.1 How the Money Markets Work 1927.2 Economic Role of the Money Markets 1937.3 Features of Money Market Instruments 1947.4 Treasury Bills 1947.5 Federal Agency Securities 2017.6 Federal Funds 2037.7 Other Major Money Market Instruments 2057.8 Money Market Participants 2117.9 The Impact of the 2007–2008 Financial Crisis on the Money Markets 213Chapter 8 Bond Markets 2208.1 Functions of the Capital Markets 2218.2 The U.S. Government and Agency Securities 2238.3 State and Local Government Bonds 2278.4 Corporate Bonds 2328.5 Financial Guarantees 2378.6 Securitized Credit Instruments 2388.7 Capital Market Regulators 2408.8 Bond Markets Around the World are Increasingly Linked 2418.9 The Impact of the 2007–2008 Financial Crisis on the Bond Markets 242Chapter 9 Mortgage Markets and Mortgage]Backed Securities 2479.1 The Unique Nature of Mortgage Markets 2499.2 Types of Mortgages 2499.3 Mortgage Qualifying 2579.4 Mortgage]Backed Securities 2619.5 Mortgage Prepayment Risk and Other MBS 2659.6 Participants in the Mortgage Markets 2719.7 Relationship Between Mortgage Markets and the Capital Markets 275Chapter 10 Equity Markets 27910.1 What are Equity Securities? 28010.2 Equity Markets 28210.3 Equity Trading 28710.4 Global Stock Markets 29110.5 Large-Scale and High Frequency Trading 29210.6 Regulation of Equity Markets 29410.7 Stock Market Indexes 295Chapter 11 Derivatives Markets 30011.1 The Nature of Derivative Securities 30111.2 Forward Markets 30211.3 Futures Markets 30411.4 Uses of the Financial Futures Markets 31111.5 Risks in the Futures Markets 31811.6 Options Markets 31911.7 Swap Markets 326Chapter 12 International Markets 33212.1 The Difficulties of International Trade 33312.2 Exchange Rates 33412.3 Balance of Payments 33712.4 Foreign Exchange Markets 34112.5 Spot and Forward Transactions 34312.6 Capital Flows and Exchange Rates 34612.7 Government Intervention in Foreign Exchange Markets 35112.8 Financing International Trade 35412.9 International Money and Capital Markets 35512.10 The Globalization of Financial Markets 358Part IV Commercial Banking 363Chapter 13 Commercial Bank Operations 36513.1 An Overview of the Banking Industry 36613.2 Balance Sheet for a Commercial Bank 36913.3 The Source of Bank Funds 37013.4 Bank Uses of Funds: Bank Investments and Cash Assets 37613.5 Bank Uses of Funds: Loans and Leases 37813.6 Loan Pricing 38113.7 Analysis of Loan Credit Risk 38413.8 Fee]Based Services 38613.9 Off]Balance]Sheet Banking 38713.10 Bank Earnings 39213.11 Bank Performance 396Chapter 14 International Banking 40014.1 Development of International Banking 40114.2 Regulation of Overseas Banking Activities 40414.3 Delivery of Overseas Banking Services 40614.4 International Lending 40914.5 Foreign Banks in the United States 41614.6 Future Directions of International Banking 420Chapter 15 Regulation of Financial Institutions 42215.1 Reasons for Regulation 42315.2 Bank Failures and Regulation 42615.3 Safety and Soundness Regulation: Deposit Insurance 43215.4 Deposit Insurance Issues 43515.5 Safety and Soundness Regulation: Capital Requirements 43915.6 Bank Examinations 44715.7 Structure and Competition Regulations 45015.8 Consumer Protection Regulations 45215.9 Bank Regulators 456Part V Financial Institutions 463Chapter 16 Thrift Institutions and Finance Companies 46516.1 Historical Development of Savings Institutions 46716.2 Operations of Savings Institutions 47016.3 Credit Unions 47816.4 Thrift Institutions Around the Globe 48416.5 Finance Companies 486Chapter 17 Insurance Companies and Pension Funds 49617.1 Insurance 49717.2 The Insurance Industry 50117.3 Life and Health Insurance Products 50817.4 Property and Liability Insurance Products 51517.5 Pensions 519Chapter 18 Investment Banking 52718.1 The Relationship Between Commercial and Investment Banking 52818.2 Primary Services of an Investment Bank 53318.3 Private Equity 543Chapter 19 Investment Companies 55119.1 Investment Companies 55219.2 Open]End Mutual Funds 55319.3 Closed]End Mutual Funds 56619.4 Exchange]Traded Funds 56719.5 Hedge Funds 57219.6 Real Estate Investment Trusts 576Chapter 20 Risk Management in Financial Institutions 58020.1 The Dilemma: Profitability Versus Safety 58120.2 Liquidity Management 58320.3 Managing Credit Risk 58720.4 Measuring and Assessing Interest Rate Risk 59320.5 Hedging Interest Rate Risk 602Summary of Learning Objectives 611Key Terms 612Questions and Problems 612Glossary 613Index 637