Download or read book Institutional Credit Markets written by José Gabilondo and published by Edward Elgar Publishing. This book was released on 2023-01-20 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional Credit Markets provides a framework for understanding the institutional funding markets that undergird the U.S. credit system. It traces the evolution of the depository bank model, its non-bank competitors, and the financial conglomerates that span credit and capital markets.
Download or read book Institutional Credit Markets written by José Gabilondo and published by Edward Elgar Publishing. This book was released on 2023-04-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional Credit Markets provides a framework for understanding the institutional funding markets that undergird the U.S. credit system. It traces the evolution of the depository bank model, its non-bank competitors, and the financial conglomerates that span credit and capital markets. As securitization introduced structured credit products that rezoned credit markets, federal reforms let banks venture into a wider range of financial services. After the Global Financial Crisis revealed cracks in the system, lawmakers affirmed pre-crisis products and business models while adding some guardrails. The post-crisis scheme subjected large financial conglomerates to enhanced supervision while adjusting the structure of banks by making them more liquid and stable. Through its stabilization activities, the Federal Reserve has morphed from bank regulator to arbiter of financial market structure, now using a more statist approach to monetary policy that relies to a greater extent on administered interest rates rather than those set by the market forces. This book explains post-crisis regulation in terms of its capitulation to financial capitalism. Financial law regulators and academics will benefit from this integrated account that considers banking, structured finance, capital markets, and money markets as parts of an institutional funding ecosystem. This book will also provide a more nuanced understanding of financial institutions and markets for financial law practitioners, sector analysts and journalists.
Download or read book Foundations of Global Financial Markets and Institutions fifth edition written by Frank J. Fabozzi and published by MIT Press. This book was released on 2019-04-30 with total page 1105 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thoroughly revised and updated edition of a textbook for graduate students in finance, with new coverage of global financial institutions. This thoroughly revised and updated edition of a widely used textbook for graduate students in finance now provides expanded coverage of global financial institutions, with detailed comparisons of U.S. systems with non-U.S. systems. A focus on the actual practices of financial institutions prepares students for real-world problems. After an introduction to financial markets and market participants, including asset management firms, credit rating agencies, and investment banking firms, the book covers risks and asset pricing, with a new overview of risk; the structure of interest rates and interest rate and credit risks; the fundamentals of primary and secondary markets; government debt markets, with new material on non-U.S. sovereign debt markets; corporate funding markets, with new coverage of small and medium enterprises and entrepreneurial ventures; residential and commercial real estate markets; collective investment vehicles, in a chapter new to this edition; and financial derivatives, including financial futures and options, interest rate derivatives, foreign exchange derivatives, and credit risk transfer vehicles such as credit default swaps. Each chapter begins with learning objectives and ends with bullet point takeaways and questions.
Download or read book Credit Markets for the Poor written by Patrick Bolton and published by Russell Sage Foundation. This book was released on 2005-06-30 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who want to purchase a home, start a business, pay for college, or weather a spell of unemployment. Yet many people in poor and minority communities—regardless of their creditworthiness—find credit hard to come by, making the climb out of poverty extremely difficult. How dire are the lending markets in these communities and what can be done to improve access to credit for disadvantaged groups? In Credit Markets for the Poor, editors Patrick Bolton and Howard Rosenthal and an expert team of economists, political scientists, and legal and business scholars tackle these questions with shrewd analysis and a wealth of empirical data. Credit Markets for the Poor opens by examining what credit options are available to poor households. Economist John Caskey profiles how weak credit options force many working families into a disastrous cycle of short-term, high interest loans in order to sustain themselves between paychecks. Löic Sadoulet explores the reasons that community lending organizations, which have been so successful in developing countries, have failed in more advanced economies. He argues the obstacles that have inhibited community lending groups in industrialized countries—such as a lack of institutional credibility and the high cost of establishing lending networks—can be overcome if banks facilitate the community lending process and establish a system of repayment insurance. Credit Markets for the Poor also examines how legal institutions affect the ability of the poor to borrow. Daniela Fabbri and Mario Padula argue that well-meaning provisions making it more difficult for lenders to collect on defaulted loans are actually doing a disservice to the poor in credit markets. They find that in areas with lax legal enforcement of debt agreements, credit markets for the poor are underdeveloped because lenders are unwilling to take risks on issuing credit or will do so only at exorbitant interest rates. Timothy Bates looks at programs that facilitate small-business development and finds that they have done little to reduce poverty. He argues that subsidized business creation programs may lure inexperienced households into entrepreneurship in areas where little profitable investment is possible, hence setting them up for failure. With clarity and insightful analysis, Credit Markets for the Poor demonstrates how weak credit markets are impeding the social and economic mobility of the needy. By detailing the many disadvantages that impoverished people face when seeking to borrow, this important new volume highlights a significant national problem and offers solutions for the future.
Download or read book The Making of a Market written by Juliette Levy and published by Penn State Press. This book was released on 2015-11-04 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the nineteenth century, Yucatán moved effectively from its colonial past into modernity, transforming from a cattle-ranching and subsistence-farming economy to a booming export-oriented agricultural economy. Yucatán and its economy grew in response to increasing demand from the United States for henequen, the local cordage fiber. This henequen boom has often been seen as another regional and historical example of overdependence on foreign markets and extortionary local elites. In The Making of a Market, Juliette Levy argues instead that local social and economic dynamics are the root of the region’s development. She shows how credit markets contributed to the boom before banks (and bank crises) existed and how people borrowed before the creation of institutions designed specifically to lend. As the intermediaries in this lending process, notaries became unwitting catalysts of Yucatán’s capitalist transformation. By focusing attention on the notaries’ role in structuring the mortgage market rather than on formal institutions such as banks, this study challenges the easy compartmentalization of local and global relationships and of economic and social relationships.
Download or read book Capital Markets Fifth Edition written by Frank J. Fabozzi and published by MIT Press. This book was released on 2015-10-23 with total page 1087 pages. Available in PDF, EPUB and Kindle. Book excerpt: The substantially revised fifth edition of a textbook covering the wide range of instruments available in financial markets, with a new emphasis on risk management. Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform. Chapters from the previous edition have been updated, and new chapters cover material that reflects recent developments in financial markets. The book begins with an introduction to financial markets, offering a new chapter that provides an overview of risk—including the key elements of financial risk management and the identification and quantification of risk. The book then covers market participants, including a new chapter on collective investment products managed by asset management firms; the basics of cash and derivatives markets, with new coverage of financial derivatives and securitization; theories of risk and return, with a new chapter on return distributions and risk measures; the structure of interest rates and the pricing of debt obligations; equity markets; debt markets, including chapters on money market instruments, municipal securities, and credit sensitive securitized products; and advanced coverage of derivative markets. Each chapter ends with a review of key points and questions based on the material covered.
Download or read book Informal Credit Markets And The New Institutional Economics written by Sagrario L Floro and published by Routledge. This book was released on 2019-03-07 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conventional wisdomaboutcreditmarketshas been radically alteredin recent years through the introduction of elements of moral hazard,adverseselectionofrisk,and quality-price relationships. Important empiricalstudies have been published which are leading to vastly different policyimplications. This analysis has not been explicitly extended to informalcredit markets so far, although it is widely recognized that credit transactedoutside the banking circuit is quantitatively huge and qualitatively critical,especially in developing countries.This book combines the new theoretical approach to credit markets withcertain precepts of the New Institutional Economics in order to analyzeinformal credit markets. While the formal financial institutions in developingcountries carry out credit transactions within the limits set by the marketenvironment and by government policies, informal institutions evolve by aparticular selection of modes of economic behavior which are responses tointrinsic imperfections of the market. The informal sector enhances trust bymakingexistingtiesanintegralcomponentofcreditcontracts:thecontractualcomponent of informal credit capitalizes on the personalistic (social andeconomic) relationships between the transacting parties.
Download or read book The Chicago Credit Market written by Melchior Palyi and published by . This book was released on 2011-06-01 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Markets and Institutions written by Jakob de Haan and published by Cambridge University Press. This book was released on 2012-06-28 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Second edition of a successful textbook that provides an insightful analysis of the world financial system.
Download or read book Financial Institutions Markets and Money written by David S. Kidwell and published by Houghton Mifflin. This book was released on 2000 with total page 940 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in its seventh edition, Financial Institutions, Markets, and Money, continues to lead the market in the introductory course to financial institutions. The text's balanced overview of the U.S. financial system, its primary institutions and markets, coupled with an introduction to international markets, creates a presentation truly reflective of today's global marketplace.
Download or read book Informal Credit Markets and the New Institutional Economics written by Sagrario L. Floro and published by . This book was released on 2019-09-13 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conventional wisdomaboutcreditmarketshas been radically alteredin recent years through the introduction of elements of moral hazard,adverseselectionofrisk,and quality-price relationships. Important empiricalstudies have been published which are leading to vastly different policyimplications. This analysis has not been explicitly extended to informalcredit markets so far, although it is widely recognized that credit transactedoutside the banking circuit is quantitatively huge and qualitatively critical,especially in developing countries.This book combines the new theoretical approach to credit markets withcertain precepts of the New Institutional Economics in order to analyzeinformal credit markets. While the formal financial institutions in developingcountries carry out credit transactions within the limits set by the marketenvironment and by government policies, informal institutions evolve by aparticular selection of modes of economic behavior which are responses tointrinsic imperfections of the market. The informal sector enhances trust bymakingexistingtiesanintegralcomponentofcreditcontracts:thecontractualcomponent of informal credit capitalizes on the personalistic (social andeconomic) relationships between the transacting parties.
Download or read book American Bonds written by Sarah L. Quinn and published by Princeton University Press. This book was released on 2019-07-16 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Download or read book New Issues in Financial and Credit Markets written by Franco Fiordelisi and published by Springer. This book was released on 2010-10-06 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of conference papers presents a contemporary insight into key trends impacting on the global financial sector post crisis and highlights new policy and research areas affecting banks and other financial institutions. The four main themes are: financial crises, credit activity, capital markets and risk management.
Download or read book American Bonds written by Sarah L. Quinn and published by Princeton University Press. This book was released on 2021-08-10 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Download or read book Financial Markets and Institutions written by Frederic S. Mishkin and published by Addison Wesley Publishing Company. This book was released on 2000 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: With an emphasis on basic principles, the unifying analytic framework and practitioner-based approach of this book aim to facilitate students with ability to understand and apply core concepts of financial markets and institutions.
Download or read book The Future of China s Bond Market written by Mr. Alfred Schipke and published by International Monetary Fund. This book was released on 2019-03-13 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.
Download or read book Financial Institutions and Markets written by Ben Hunt and published by . This book was released on 2011 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly updated, this new sixth edition of Financial Institutions and Markets focuses on Australiaa s financial system, while retaining the structure of the successful fifth edition. It examines the financial systema s three main functions a settlement, flow-of-funds and risk transfer a and provides a clear and comprehensive integrated account of the activities of Australiaa s financial institutions and markets, including the risks they face and the instruments they use. As well, the major capital and foreign exchange markets and the markets for derivatives (and their use as hedging instruments) are discussed. This new 6th edition covers recent financial innovations, such as high-frequency trading in the share market and APRAa s adoption of Basel II (and Basel III) a an explanation of how the RBA assesses the financial systema s stability. It also includes new a Industry Insightsa and a Practical Applicationsa that illustrate specific topics, such as the role of margin loans and short selling in the demise of ABC Learning. The main update for this new edition has been the development of a Lessons from the GFCa that are designed to complement the booka s explanations of a range of topics, such as the use of leverage, lending for housing, securitisation, the role of the inter-bank market, the pricing of risk in bond markets and the role of speculation in the market for Australian dollar.
