Mike Buckle, John Thompson

The UK financial system (eBook, ePUB)

Theory and practice, fifth edition

• Format: ePub

Produktbeschreibung

The UK financial system, now in its fifth edition, provides an up-to-date discussion of the UK financial system and the changes affecting it. Throughout the world the nature and regulation of financial systems have changed dramatically following the global financial crisis. In this text the necessary underlying theory is introduced and a range of relevant statistics provided in each chapter to supplement the narrative. Coverage includes a critique of the UK financial institutions and markets, as well as regulation emanating both from within the UK and also from supranational bodies such as the Bank for International Settlements and the European Union. The discussion is based on both the underlying theory as well as the operating practices of the institutions and markets. Each supplemented by a comprehensive glossary, the book is subdivided into three main sections: financial institutions; financial markets; and the regulation of banks and other financial institutions. The book will be essential reading to lecturers and undergraduate students enrolled on courses in financial economics and banking.

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Produktdetails

• Verlag: Princeton University Press
• Seitenzahl: 464
• Erscheinungstermin: 21. Oktober 2016
• Englisch
• ISBN-13: 9781526105042
• Artikelnr.: 48026213

Autorenporträt

Mike Buckle, John Thompson

Inhaltsangabe

1. Introduction to the financial system 1.1. Introduction 1.2. The role of
thefinancial system 1.3. Financial claims 1.4. Sectoral analysis of the
financial system 1.5. Conclusion Part I: Institutions 2. Financial
intermediation and recent developments in the UK financial system 2.1.
Introduction 2.2. The nature of financial intermediation 2.3. What do
financial intermediaries do? 2.4. Implications of financial intermediation
2.5. The future for financial intermediation 2.6. Evolution of financial
systems 2.7. Recent developments in theUK financial system 2.8. Conclusion
3. Banking: types of banks and the risks they face 3.1. Introduction 3.2.
Retail banks 3.3. Wholesale banking 3.4. International banking 3.5.
Universal banking 3.6. Islamic banking 3.7. Narrow banking 3.8.
Securitisation 3.9. Risks faced by banks 3.10. Conclusion 4. Funds and
other investment vehicles 4.1. Introduction 4.2. Types of investment
institution 4.3. General insurance 4.4. Nature of the liabilities of
long-term insurance companies and pension funds 4.5. Portfolio investment
of pension funds and long-term insurance companies 4.6. Investment trusts,
unit trusts, open-ended investment companies and exchange-traded funds 4.7.
The new funds 4.8. The shadow banking system 4.9. The alternative finance
industry 4.10.Conclusion 5. Central banking 5.1.Introduction 5.2. The role
of central banks 5.3. The Bank of England 5.4. Conclusion Part II: Markets
6. Financial markets: introduction 6.1. Introduction 6.2. London as an
international financial centre 6.3. The nature of markets 6.4. Completion
of the transaction 6.5. Hedging, speculation and arbitrage 6.6.The
efficient markets hypothesis 6.7. Behavioural finance 6.8. Conclusion 7.
The market for equities 7.1. Introduction 7.2. The primary capital market
7.3. The primary market for private sector securities 7.4. The secondary
market for private sector securities 7.5. Global stock market corrections
7.6. The stock markets and the efficient markets hypothesis 7.7. Conclusion
8. Interest rates and the bond market 8.1. Introduction 8.2. The structure
of interest rates 8.3. The level of interest rates 8.4. Nature and
valuation of bonds 8.5. The market for UK government bonds (gilt-edged
securities) 8.6. The corporate bond market and credit ratings 8.7.The term
structure of interest rates 8.8. Conclusion 9. The sterling money markets
9.1. Introduction 9.2. Assets traded on the London sterling money markets
9.3. Valuation of securities in the money markets 9.4. The supply of money
by the central bank 9.5. The Bank of England's money market operations 9.6.
Operations by the DMO in the sterling money market 9.7. Conclusion 10. The
foreign exchange markets 10.1. Introduction 10.2. The nature of exchange
rates 10.3. Determination of exchange rates 10.4. Nature of the forex 10.5.
Nature of forex business 10.6. The efficiency of the foreign exchange
market 10.7. Conclusion 11.Eurosecurities markets 11.1. Introduction 11.2.
Eurobonds 11.3. Money market instruments issued through the eurosecurities
markets 11.4. Euro-equities 11.5. Use of swaps in eurosecurities markets
11.6. Disintermediation 11.7. Conclusion 12. Financial derivatives 12.1.
Introduction 12.2. The development and growth of financial derivatives
12.3. ICE Futures Europe (IFE) 12.4. The nature of financial futures 12.5.
The nature of options 12.6. Swaps 12.7. Forward rate agreements 12.8.
Contracts for difference 12.9. Credit derivatives 12.10. Problems arising
from hedging or trading derivatives 12.11. The efficiency of the
derivatives markets 12.12. Conclusion 13. Managing risk via the financial
markets 13.1. Introduction 13.2. The nature of exchange and interest rate
risk 13.3. Managing exchange rate risk: internal methods 13.4. Managing
exchange rate risk: external methods 13.5. Managing interest rate risk
13.6. Conclusion Part III: Regulation 14. The global financial crisis of
2007-8 and its implications 14.1. Introduction 14.2. Causes of financial
crises 14.3. Causes of the global financial crisis of 2007-8 14.4.
Responses to the 2007-8 crisis 14.5. Conclusion 15.Regulation of the
banking system 15.1. Introduction 15.2. The rationale for the regulation of
banks 15.3. The structure of regulation 15.4. The safety net 15.5.
Regulation of capital adequacy: Basel I and II 15.6. The Basel III
framework 15.7. Banking recovery and resolution 15.8. Conclusion
16.Regulation of financial institutions other than banks 16.1. Introduction
16.2. Regulation of life insurance companies 16.3. Regulation of pension
funds 16.4. Investment funds 16.5. The European Market Infrastructure
Regulation 16.6. The Markets in Financial Instruments Directive (MFID)
16.7. Conclusion Part IV: Conclusions 17. Conclusions 17.1. Introduction
17.2. Critique of the financial sector 17.3. Conclusion References Glossary
of technical terms and abbreviations Index