Financial Institutions, Markets, and Money

ISBN-10: 0470561084

ISBN-13: 9780470561089

Edition: 11th 2012

List price: $205.95 Buy it from $37.41
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Description: Kidwell's Financial Institutions 11th Edition presents a balanced introduction to the operation, mechanics, and structure of the U.S. financial system, emphasizing its institutions, markets, and financial instruments.#xA0; 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.

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Book details

List price: $205.95
Edition: 11th
Copyright year: 2012
Publisher: John Wiley & Sons, Incorporated
Publication date: 11/1/2011
Binding: Hardcover
Pages: 736
Size: 8.50" wide x 10.50" long x 1.25" tall
Weight: 3.036
Language: English

Financial Institutions, Markets and Money (11th Edition)
The Financial System
An Overview of Financial Markets and Institutions
Chapter Preview
Learning Objectives
The Financial System
Financial Markets and Direct Financing
Do You Understand?
People & Events: Wall Street Faces Global Competition
Types of Financial Markets
The Money Markets
The Capital Markets
Do You Understand?
Financial Intermediaries and Indirect Financing
Do You Understand?
Types of Financial Intermediaries
Do You Understand?
The Risks Financial Institutions Manage
Regulation of the Financial System
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
The Federal Reserve and Its Powers
Chapter Preview
Learning Objectives
Origins of The Federal Reserve System
People & Events: Free Banking and Wildcat Banks
The Current Structure of The Fed
Monetary Powers of the Board of Governors
The Fed's Regulatory Powers
Independence of The Fed
Do You Understand?
The Fed's Balance Sheet
Computing a Bank's Excess Reserve Position
The Fed's Role In Check Clearing
Federal Reserve Tools of Monetary Policy
People & Events: A Contrast In Style: Greenspan versus Bernanke
Calculating a Bank's Reserve Position
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
The Fed and Interest Rates
Chapter Preview
Learning Objectives
Federal Reserve Control of The Money Supply
The Fed's Influence on Interest Rates
The Treasury Department and Fiscal Policy
Do You Understand?
Goals of Monetary Policy
People & Events: The Fed as Lender of Last Resort: Preventing a Financial Panic
The Fed and the Economy
People & Events: Black Monday
Complications of Monetary Policy
Anatomy of a Financial Crisis
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
How Interest Rates Are Determined
The Level of Interest Rates
Chapter Preview
Learning Objectives
What Are Interest Rates?
The Real Rate of Interest
Loanable Funds Theory of Interest
Do You Understand?
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
Forecasting Interest Rates
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Bond Prices and Interest Rate Risk
Chapter Preview
Learning Objectives
The Time Value of Money
Do You Understand?
Bond Pricing
People & Events: Rogue Trader Incurs Huge Financial Losses for French Bank
Calculating the Price of a Bond Using a Financial Calculator
Bond Yields
Calculating the Yield to Maturity on a Bond
Do You Understand?
Important Bond Pricing Relationships
Interest Rate Risk and Duration
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
The Structure of Interest Rates
Chapter Preview
Learning Objectives
The Term Structure of Interest Rates
Using the Term Structure Formula to Calculate Implied Forward Rates
Do You Understand?
Default Risk
People & Events: The Credit-Rating Club
Tax Treatment
Do You Understand?
Marketability
Options of Debt Securities
Do You Understand?
Behavior of Interest Rates over the Business Cycle
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Part III, Financial Markets
Money Markets
Chapter Preview
Learning Objectives
How the Money Markets Work
Economic Role of the Money Markets
Characteristics of Money Market Instruments
Treasury Bills
Calculating the Discount Yield
Calculating the Bond Equivalent Yield
Do You Understand?
Federal Agency Securities
Fed Funds
Other Major Money Market Instruments
People & Events: Lehman Brothers "Creative" Accounting: Repos 105 and
Money Market Participants
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
Bond Markets
Chapter Preview
Learning Objectives
Functions of the Capital Markets
U.S. Government and Agency Securities
People & Events: What Do Negative Yields on TIPS Tell Us?
Do You Understand?
State and Local Government Bonds
Corporate Bonds
Do You Understand?
Financial Guarantees
Securitized Credit Instruments
Financial Market Regulators
Bond Markets Around the World Are Increasingly Linked
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
Mortgage Markets
Chapter Preview
Learning Objectives
The Unique Nature of Mortgage Markets
Types of Mortgages
Do You Understand?
Mortgage Qualifying
Do You Understand?
Mortgage-backed Securities
Determining How Much Home You Can Buy
Mortgage Prepayment Risk
Do You Understand?
Participants in the Mortgage Markets
People & Events: The Rise and Fall of Fannie and Freddie
Relationship between Mortgage Markets and the Capital Markets
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Equity Markets
Chapter Preview
Learning Objectives
What Are Equity Securities?
Equity Markets
Equity Trading
Global Stock Markets
Regulation of Equity Markets
Do You Understand?
Equity Valuation Basics
Do You Understand?
Valuing a Stock
Equity Risk
Do You Understand?
Stock Market Indexes
People & Events: Circuit Breakers, Black Monday, and the Flash Crash
The Stock Market as a Predictor of Economic Activity
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Derivatives Markets
Chapter Preview
Learning Objectives
The Nature of Derivative Securities
Forward Markets
Futures Markets
Uses of the Financial Futures Markets
Hedging Risk in a Stock Portfolio
Risks in the Futures Markets
Do You Understand?
Options Markets
Do You Understand?
Regulations of the Futures and Options Markets
Swap Markets
People & Events: Swap Market Regulation
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
International Markets
Chapter Preview
Learning Objectives
Difficulties of International Trade
Exchange Rates
Balance of Payments
Foreign Exchange Markets
Spot and Forward Transactions
Using Forward Contracts to Hedge Exchange Rate Risks
People & Events: The Big Mac Test of Purchasing Power Parity
Capital Flows and Exchange Rates
Do You Understand?
Government Intervention in Foreign Exchange Markets
Using Purchasing Power Parity to Determine the Expected Exchange Rate
Financing International Trade
Do You Understand?
International Money and Capital Markets
The Globalization of Financial Markets
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Commercial Banking
Commercial Bank Operations
Chapter Preview
Learning Objectives
An Overview of the Banking Industry
Balance Sheet for a Commercial Bank
The Source of Bank Funds
Do You Understand?
Bank Uses of Funds: Bank Investments and Cash Assets
Bank Uses of Funds: Loans and Leases
Loan Pricing
Analysis of Loan Credit Risk
People & Events: What's Your Score?
Do You Understand?
Fee-Based Services
Off-Balance-Sheet Banking
Do You Understand?
Bank Earnings
Bank Performance
Do You Understand?
Bank and Financial Holding Companies
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
International Banking
Chapter Preview
Learning Objectives
Development of International Banking
Regulation of Overseas Banking Activities
Delivery of Overseas Banking Services
People & Events: Credit Risk, Subprime Mortgage Crisis of 2007, and Challenges to the Banking Sector
Do You Understand?
International Lending
Do You Understand?
Foreign Banks in the United States
Future Directions of International Banking
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Regulation of Financial Institutions
Chapter Preview
Learning Objectives
Reasons for Regulation
Bank Failures and Regulation
People & Events: WaMu and the Destructive "Power of Yes"
Safety and Soundness Regulation: Deposit Insurance
Do You Understand?
Deposit Insurance Issues
Do You Understand?
Safety and Soundness Regulation: Capital Requirements
Do You Understand?
Bank Examinations
Structure and Competition Regulations
Consumer Protection Regulations
People & Events: Dual or Dueling Banking Systems?
Bank Regulators
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Financial Institutions
Thrift Institutions and Finance Companies
Chapter Preview
Learning Objectives
Historical Development of Savings Institutions
Operations of Savings Institutions
Do You Understand?
Credit Unions
People & Events: Demographic Change Brings Opportunity
People & Events: Commercial Banks Versus Credit Unions
Thrift Institutions Around the Globe
Do You Understand?
Finance Companies
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Insurance Companies and Pension Funds
Chapter Preview
Learning Objectives
Insurance
People & Events: 9/11 and Katrina: Insurance Coverage Disputes
The Insurance Industry
Do You Understand?
Life and Health Insurance
Do You Understand?
Property and Liability Insurance
Calculating Policyholders' Surplus
Do You Understand?
Pensions
Measuring Insurance Company Profitability with the Combined Ratio
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Investment Banking
Chapter Preview
Learning Objectives
The Relationship between Commercial and Investment Banking
Primary Services of an Investment Bank
People & Events: Where, Oh, Where Have All the Investment Banks Gone?
Do You Understand?
Private Equity
Evaluating a Venture Capital Investment
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Investment Companies
Chapter Preview
Learning Objectives
Investment Companies
Open-end Mutual Funds
Calculating Net Asset Value
People & Events: Money Market Mutual Funds Breaking the Buck
Closed-end Mutual Funds
Exchange-traded Funds
Do You Understand?
Hedge Funds
People & Events: Hedge Funds and the Dodd-Frank Wall Street Reform and Consumer Protection Act
Do You Understand?
Real Estate Investment Trusts
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
Risk Management in Financial Institutions
Chapter Preview
Learning Objectives
The Dilemma: Profitability versus Safety
Liquidity Management
Do You Understand?
People & Events: Operational Risk
Managing Credit Risk
Do You Understand?
People & Events: Counterparty Controversy: AIG and Its Risky Risk Management
Measuring and Assessing Interest Rate Risk
Hedging Interest Rate Risk
Do You Understand?
Measuring Interest Rate Risk
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise
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