A core text for one-semester courses in Financial Institutions and Markets, and a supplement for courses in Derivative Securities and Investments.
This text offers a comprehensive exploration of the revolutionary developments occurring in the world's financial markets and institutions - i.e., innovation, globalization, and deregulation - with a focus on the actual practices of financial institutions, investors, and financial instruments.
I. INTRODUCTION.1. Introduction.
II. DEPOSITORY INSTITUTIONS.4. Depository Institutions: Activities and Characteristics.
III. NON-DEPOSITORY FINANCIAL INTERMEDIARIES.7. Insurance Companies.
IV. DETERMINANTS OF ASSET PRICES AND INTEREST RATES.10. Properties and Pricing of Financial Assets.
V. ORGANIZATION AND STRUCTURE OF MARKETS.14. Primary Markets and the Underwriting of Securities.
VI. MARKETS FOR GOVERNMENT DEBT.16. Treasury and Agency Securities Markets.
VII. MARKETS FOR CORPORATE SECURITIES.18. Common Stock Markets in the United States.
VIII. MORTGAGE AND SECURITIZED ASSET MARKETS.23. The Mortgage Market.
IX. MARKETS FOR DERIVATIVE SECURITIES.26. Financial Futures Markets.