Financial Institutions - David A. Whidbee

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Résumé :

Part I The Financial System 1

Chapter 1 An Overview of Financial Markets and Institutions 3
1.1 The Financial System 4
1.2 Financial Markets and Direct Financing 7
1.3 Types of Financial Markets 12
1.4 The Money Markets 14
1.5 The Capital Markets 15
1.6 Financial Intermediaries and Indirect Financing 17
1.7 Types of Financial Intermediaries 23
1.8 The Risks Financial Institutions Manage 28
1.9 Regulation of the Financial System 29
1.10 Ethics and the Financial System 33

Chapter 2 The Federal Reserve and Its Powers 38
2.1 Origins of the Federal Reserve System 39
2.2 The Current Structure of the Fed 44
2.3 Monetary Powers of the Board of Governors 47
2.4 The Fed's Regulatory Powers 47
2.5 Independence of the Fed 51
2.6 The Fed's Balance Sheet 53
2.7 The Fed's Role in Check Clearing and the Growth of Electronic Payments 59
2.8 Federal Reserve Tools of Monetary Policy 61

Chapter 3 The Fed and Interest Rates 71
3.1 Federal Reserve Control of the Money Supply 72
3.2 The Fed's Influence on Interest Rates 75
3.3 The Treasury Department and Fiscal Policy 79
3.4 Goals of Monetary Policy 82
3.5 The Fed and the Economy 88
3.6 Complications of Monetary Policy 91
3.7 Anatomy of a Financial Crisis 93

Part II How Interest Rates are Determined 105

Chapter 4 The Level of Interest Rates 107
4.1 What are Interest Rates? 108
4.2 The Real Rate of Interest 109
4.3 Loanable Funds Theory of Interest 111
4.4 Price Expectations and Interest Rates 114
4.5 A Restatement of the Fisher Equation 116
4.6 Forecasting Interest Rates 122
4.7 Interest Rates and Currency Values 124

Chapter 5 Bond Prices and Interest Rate Risk 127
5.1 The Time Value of Money 128
5.2 Bond Pricing 131
5.3 Bond Yields 136
5.4 Important Bond Pricing Relationships 140
5.5 Interest Rate Risk and Duration 144

Chapter 6 The Structure of Interest Rates 159

6.1 The Term Structure of Interest Rates 160
6.2 Default Risk 172
6.3 Tax Treatment 176
6.4 Marketability 180
6.5 Options on Debt Securities 180
6.6 Behavior of Interest Rates over the Business Cycle 183

Part III Financial Markets 189

Chapter 7 Money Markets 191
7.1 How the Money Markets Work 192
7.2 Economic Role of the Money Markets 193
7.3 Features of Money Market Instruments 194
7.4 Treasury Bills 194
7.5 Federal Agency Securities 201
7.6 Federal Funds 203
7.7 Other Major Money Market Instruments 205
7.8 Money Market Participants 211
7.9 The Impact of the 2007-2008 Financial Crisis on the Money Markets 213

Chapter 8 Bond Markets 220
8.1 Functions of the Capital Markets 221
8.2 The U.S. Government and Agency Securities 223
8.3 State and Local Government Bonds 227
8.4 Corporate Bonds 232
8.5 Financial Guarantees 237
8.6 Securitized Credit Instruments 238
8.7 Capital Market Regulators 240
8.8 Bond Markets Around the World are Increasingly Linked 241
8.9 The Impact of the 2007-2008 Financial Crisis on the Bond Markets 242

Chapter 9 Mortgage Markets and Mortgage?]Backed Securities 247
9.1 The Unique Nature of Mortgage Markets 249
9.2 Types of Mortgages 249
9.3 Mortgage Qualifying 257
9.4 Mortgage?]Backed Securities 261
9.5 Mortgage Prepayment Risk and Other MBS 265
9.6 Participants in the Mortgage Markets 271
9.7 Relationship Between Mortgage Markets and the Capital Markets 275

Chapter 10 Equity Markets 279
10.1 What are Equity Securities? 280
10.2 Equity Markets 282
10.3 Equity Trading ...

Sommaire:

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.