David S. Kidwell (University of Minnesota), David W. Blackwell (PricewaterhouseCoopers LLP), David A. Whidbee (Washington State University)

Financial Institutions

Markets and Money, EMEA Edition

• Broschiertes Buch

Produktbeschreibung

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.

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Produktdetails

• Verlag: Wiley / Wiley & Sons
• Artikelnr. des Verlages: 1W119589980
• 12. Aufl.
• Seitenzahl: 678
• Erscheinungstermin: 17. Mai 2019
• Englisch
• Abmessung: 203mm x 254mm x 39mm
• Gewicht: 666g
• ISBN-13: 9781119589983
• ISBN-10: 1119589983
• Artikelnr.: 56875688

Inhaltsangabe

TABLE OF CONTENTS

Part I The Financial System 1

Chapter 1 An Overview of Financial Markets and Institutions 3

Chapter Preview 4

Learning Objectives 4

1.1 The Financial System 4

1.2 Financial Markets and Direct Financing 7

Do You Understand? 10

People & Events: A Brief Examination of the Causes and Effects of the Global Financial Crisis of 2007 and 2008 11

1.3 Types of Financial Markets 12

1.4 The Money Markets 14

1.5 The Capital Markets 15

Do You Understand? 17

1.6 Financial Intermediaries and Indirect Financing 17

Do You Understand? 22

1.7 Types of Financial Intermediaries 23

Do You Understand? 27

1.8 The Risks Financial Institutions Manage 28

1.9 Regulation of the Financial System 29

People & Events: Systemically Risky Banks: What is the Solution? 33

1.10 Ethics and the Financial System 33

Do You Understand? 35

Summary of Learning Objectives 35

Key Terms 36

Questions and Problems 36

Chapter 2 The Federal Reserve and Its Powers 38

Chapter Preview 39

Learning Objectives 39

2.1 Origins of the Federal Reserve System 39

People & Events: Banking before 1933, Banking from 1933 to 1980, and Banking in the Modern Era 43

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

Do You Understand? 53

2.6 The Fed's Balance Sheet 53

2.7 The Fed's Role in Check Clearing and the Growth of Electronic Payments 59

Learning by Doing 2.1: Computing a Bank's Excess Reserve Position 60

2.8 Federal Reserve Tools of Monetary Policy 61

People & Events: The Challenges of Fed Chair Janet Yellen 62

Learning by Doing 2.2: Calculating a Bank's Reserve Position 66

Summary of Learning Objectives 69

Key Terms 69

Questions and Problems 69

Chapter 3 The Fed and Interest Rates 71

Chapter Preview 72

Learning Objectives 72

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

Do You Understand? 81

3.4 Goals of Monetary Policy 82

People & Events: The Fed as Lender of Last Resort During the Financial Crisis 87

3.5 The Fed and the Economy 88

People & Events: Black Monday 91

3.6 Complications of Monetary Policy 91

3.7 Anatomy of a Financial Crisis 93

People & Events: Good Work If You Can Get It: Executive Bonuses During Bailouts? 100

Do You Understand? 101

Summary of Learning Objectives 102

Key Terms 102

Questions and Problems 102

Part II How Interest Rates are Determined 105

Chapter 4 The Level of Interest Rates 107

Chapter Preview 108

Learning Objectives 108

4.1 What are Interest Rates? 108

4.2 The Real Rate of Interest 109

4.3 Loanable Funds Theory of Interest 111

Do You Understand? 114

4.4 Price Expectations and Interest Rates 114

4.5 A Restatement of the Fisher Equation 116

People & Events: What Is the Actual Inflation Rate? 117

Do You Understand? 121

People & Events: Estimating the Expected Rate of Inflation from TIPS 122

4.6 Forecasting Interest Rates 122

4.7 Interest Rates and Currency Values 124