Financial institutions, markets, and money
著者
書誌事項
Financial institutions, markets, and money
Wiley, c2013
11th ed., International student version
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注記
Previous ed.: 2008
Includes index
内容説明・目次
内容説明
Kidwell's Financial Institutions 11 th 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. Each author brings something unique to this new edition. David Kidwell, formerly Dean of the Carlson School of Business, is a gifted storyteller with a keen insight on what it takes to reach readers. He is also currently writing a Corporate Finance text and is Chair of the Finance department at Texas A&M University. David Whidbee is an Assoc. Dean at Washington State University. He has won numerous teaching and research awards.
目次
Financial Institutions, Markets and Money (11th Edition) Contents Part I , THE FINANCIAL SYSTEM Chapter 1 An Overview of Financial Markets and Institutions Chapter Preview Learning Objectives 1.1 The Financial System 1.2 Financial Markets and Direct Financing Do You Understand? PEOPLE & EVENTS: Wall Street Faces Global Competition 1.3 Types of Financial Markets 1.4 The Money Markets 1.5 The Capital Markets Do You Understand? 1.6 Financial Intermediaries and Indirect Financing Do You Understand? 1.7 Types of Financial Intermediaries Do You Understand? 1.8 The Risks Financial Institutions Manage 1.9 Regulation of the Financial System Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 2 The Federal Reserve and Its Powers Chapter Preview Learning Objectives 2.1 Origins of The Federal Reserve System PEOPLE & EVENTS: Free Banking and Wildcat Banks 2.2 The Current Structure of The Fed 2.3 Monetary Powers of the Board of Governors 2.4 The Fed's Regulatory Powers 2.5 Independence of The Fed Do You Understand? 2.6 The Fed's Balance Sheet Learning by Doing 2.1: Computing a Bank's Excess Reserve Position 2.7 The Fed's Role In Check Clearing 2.8 Federal Reserve Tools of Monetary Policy PEOPLE & EVENTS: A Contrast In Style: Greenspan versus Bernanke Learning by Doing 2.2: Calculating a Bank's Reserve Position Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 3 The Fed and Interest Rates Chapter Preview Learning Objectives 3.1 Federal Reserve Control of The Money Supply 3.2 The Fed's Influence on Interest Rates 3.3 The Treasury Department and Fiscal Policy Do You Understand? 3.4 Goals of Monetary Policy PEOPLE & EVENTS: The Fed as Lender of Last Resort: Preventing a Financial Panic 3.5 The Fed and the Economy PEOPLE & EVENTS: Black Monday 3.6 Complications of Monetary Policy 3.7 Anatomy of a Financial Crisis Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Part II, How Interest Rates Are Determined Chapter 4 The Level of Interest Rates Chapter Preview Learning Objectives 4.1 What Are Interest Rates? 4.2 The Real Rate of Interest 4.3 Loanable Funds Theory of Interest Do You Understand? 4.4 Price Expectations and Interest Rates PEOPLE & EVENTS: Irving Fisher (1867-1947): Economist Do You Understand? PEOPLE & EVENTS: Estimating the Expected Rate of Inflation from TIPS 4.5 Forecasting Interest Rates Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 5 Bond Prices and Interest Rate Risk Chapter Preview Learning Objectives 5.1 The Time Value of Money Do You Understand? 5.2 Bond Pricing PEOPLE & EVENTS: Rogue Trader Incurs Huge Financial Losses for French Bank Learning by Doing 5.1: Calculating the Price of a Bond Using a Financial Calculator 5.3 Bond Yields Learning by Doing 5.2: Calculating the Yield to Maturity on a Bond Do You Understand? 5.4 Important Bond Pricing Relationships 5.5 Interest Rate Risk and Duration Learning by Doing 5.3: Calculating the Duration of a Bond PEOPLE & EVENTS: Betting the Farm on Interest Rates and Losing Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 6 The Structure of Interest Rates Chapter Preview Learning Objectives 6.1 The Term Structure of Interest Rates Learning by Doing 6.1: Using the Term Structure Formula to Calculate Implied Forward Rates Do You Understand? 6.2 Default Risk PEOPLE & EVENTS: The Credit-Rating Club 6.3 Tax Treatment Do You Understand? 6.4 Marketability 6.5 Options of Debt Securities Do You Understand? 6.6 Behavior of Interest Rates over the Business Cycle Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Part III, Financial Markets Chapter 7 Money Markets Chapter Preview Learning Objectives 7.1 How the Money Markets Work 7.2 Economic Role of the Money Markets 7.3 Characteristics of Money Market Instruments 7.4 Treasury Bills Learning by Doing 7.1: Calculating the Discount Yield Learning by Doing 7.2: Calculating the Bond Equivalent Yield Do You Understand? 7.5 Federal Agency Securities 7.6 Fed Funds 7.7 Other Major Money Market Instruments PEOPLE & EVENTS: Lehman Brothers "Creative" Accounting: Repos 105 and 108 7.8 Money Market Participants 7.9 The Impact of the 2007-2009 Financial Crisis on the Money Markets PEOPLE & EVENTS: How Breaking the Buck (Almost) Broke the Commercial Paper Market Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 8 Bond Markets Chapter Preview Learning Objectives 8.1 Functions of the Capital Markets 8.2 U.S. Government and Agency Securities PEOPLE & EVENTS: What Do Negative Yields on TIPS Tell Us? Do You Understand? 8.3 State and Local Government Bonds 8.4 Corporate Bonds Do You Understand? 8.5 Financial Guarantees 8.6 Securitized Credit Instruments 8.7 Financial Market Regulators 8.8 Bond Markets Around the World Are Increasingly Linked 8.9 The Impact of the 2007-2009 Financial Crisis on the Bond Markets Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 9 Mortgage Markets Chapter Preview Learning Objectives 9.1 The Unique Nature of Mortgage Markets 9.2 Types of Mortgages Do You Understand? 9.3 Mortgage Qualifying Do You Understand? 9.4 Mortgage-backed Securities Learning by Doing 9.1: Determining How Much Home You Can Buy 9.5 Mortgage Prepayment Risk Do You Understand? 9.6 Participants in the Mortgage Markets PEOPLE & EVENTS: The Rise and Fall of Fannie and Freddie 9.7 Relationship between Mortgage Markets and the Capital Markets Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 10 Equity Markets Chapter Preview Learning Objectives 10.1 What Are Equity Securities? 10.2 Equity Markets 10.3 Equity Trading 10.4 Global Stock Markets 10.5 Regulation of Equity Markets Do You Understand? 10.6 Equity Valuation Basics Do You Understand? Learning by Doing 10.1: Valuing a Stock 10.7 Equity Risk Do You Understand? 10.8 Stock Market Indexes PEOPLE & EVENTS: Circuit Breakers, Black Monday, and the Flash Crash 10.9 The Stock Market as a Predictor of Economic Activity Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 11 Derivatives Markets Chapter Preview Learning Objectives 11.1 The Nature of Derivative Securities 11.2 Forward Markets 11.3 Futures Markets 11.4 Uses of the Financial Futures Markets Learning by Doing 11.1: Hedging Risk in a Stock Portfolio 11.5 Risks in the Futures Markets Do You Understand? 11.6 Options Markets Do You Understand? 11.7 Regulations of the Futures and Options Markets 11.8 Swap Markets PEOPLE & EVENTS: Swap Market Regulation Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 12 International Markets Chapter Preview Learning Objectives 12.1 Difficulties of International Trade 12.2 Exchange Rates 12.3 Balance of Payments 12.4 Foreign Exchange Markets 12.5 Spot and Forward Transactions Learning by Doing 12.1: Using Forward Contracts to Hedge Exchange Rate Risks PEOPLE & EVENTS: The Big Mac Test of Purchasing Power Parity 12.6 Capital Flows and Exchange Rates Do You Understand? 12.7 Government Intervention in Foreign Exchange Markets Learning by Doing 12.2: Using Purchasing Power Parity to Determine the Expected Exchange Rate 12.8 Financing International Trade Do You Understand? 12.9 International Money and Capital Markets 12.10 The Globalization of Financial Markets Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Part IV, Commercial Banking Chapter 13 Commercial Bank Operations Chapter Preview Learning Objectives 13.1 An Overview of the Banking Industry 13.2 Balance Sheet for a Commercial Bank 13.3 The Source of Bank Funds Do You Understand? 13.4 Bank Uses of Funds: Bank Investments and Cash Assets 13.5 Bank Uses of Funds: Loans and Leases 13.6 Loan Pricing 13.7 Analysis of Loan Credit Risk PEOPLE & EVENTS: What's Your Score? Do You Understand? 13.8 Fee-Based Services 13.9 Off-Balance-Sheet Banking Do You Understand? 13.10 Bank Earnings 13.11 Bank Performance Do You Understand? 13.12 Bank and Financial Holding Companies Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 14 International Banking Chapter Preview Learning Objectives 14.1 Development of International Banking 14.2 Regulation of Overseas Banking Activities 14.3 Delivery of Overseas Banking Services PEOPLE & EVENTS: Credit Risk, Subprime Mortgage Crisis of 2007, and Challenges to the Banking Sector Do You Understand? 14.4 International Lending Do You Understand? 14.5 Foreign Banks in the United States 14.6 Future Directions of International Banking Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 15 Regulation of Financial Institutions Chapter Preview Learning Objectives 15.1 Reasons for Regulation 15.2 Bank Failures and Regulation PEOPLE & EVENTS: WaMu and the Destructive "Power of Yes" 15.3 Safety and Soundness Regulation: Deposit Insurance Do You Understand? 15.4 Deposit Insurance Issues Do You Understand? 15.5 Safety and Soundness Regulation: Capital Requirements Do You Understand? 15.6 Bank Examinations 15.7 Structure and Competition Regulations 15.8 Consumer Protection Regulations PEOPLE & EVENTS: Dual or Dueling Banking Systems? 15.9 Bank Regulators Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Part V, Financial Institutions Chapter 16 Thrift Institutions and Finance Companies Chapter Preview Learning Objectives 16.1 Historical Development of Savings Institutions 16.2 Operations of Savings Institutions Do You Understand? 16.3 Credit Unions PEOPLE & EVENTS: Demographic Change Brings Opportunity PEOPLE & EVENTS: Commercial Banks Versus Credit Unions 16.4 Thrift Institutions Around the Globe Do You Understand? 16.5 Finance Companies Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 17 Insurance Companies and Pension Funds Chapter Preview Learning Objectives 17.1 Insurance PEOPLE & EVENTS: 9/11 and Katrina: Insurance Coverage Disputes 17.2 The Insurance Industry Do You Understand? 17.3 Life and Health Insurance Do You Understand? 17.4 Property and Liability Insurance Learning by Doing 17.1: Calculating Policyholders' Surplus Do You Understand? 17.5 Pensions Learning by Doing 17.2: Measuring Insurance Company Profitability with the Combined Ratio Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 18 Investment Banking Chapter Preview Learning Objectives 18.1 The Relationship between Commercial and Investment Banking 18.2 Primary Services of an Investment Bank PEOPLE & EVENTS: Where, Oh, Where Have All the Investment Banks Gone? Do You Understand? 18.3 Private Equity Learning by Doing 18.1: Evaluating a Venture Capital Investment Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 19 Investment Companies Chapter Preview Learning Objectives 19.1 Investment Companies 19.2 Open-end Mutual Funds Learning by Doing 19.1: Calculating Net Asset Value PEOPLE & EVENTS: Money Market Mutual Funds Breaking the Buck 19.3 Closed-end Mutual Funds 19.4 Exchange-traded Funds Do You Understand? 19.5 Hedge Funds PEOPLE & EVENTS: Hedge Funds and the Dodd-Frank Wall Street Reform and Consumer Protection Act Do You Understand? 19.6 Real Estate Investment Trusts Do You Understand? Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise Chapter 20 Risk Management in Financial Institutions Chapter Preview Learning Objectives 20.1 The Dilemma: Profitability versus Safety 20.2 Liquidity Management Do You Understand? PEOPLE & EVENTS: Operational Risk 20.3 Managing Credit Risk Do You Understand? PEOPLE & EVENTS: Counterparty Controversy: AIG and Its Risky Risk Management 20.4 Measuring and Assessing Interest Rate Risk 20.5 Hedging Interest Rate Risk Do You Understand? Learning by Doing 20.1: Measuring Interest Rate Risk Summary of Learning Objectives Key Terms Questions and Problems Internet Exercise
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