Financial Institutions and Markets describes financial markets and the financial institutions that serve those investors and firms. It provides a conceptual framework that can be used to understand why markets exist. Each type of financial market is described, with a focus on the securities that are traded in that market and the participation by financial institutions.

To day, many financial instituions offer all types of financial services, such as banking, securities services, mutual fund services, and insurance services. Although financial institutions overlap in the services they offer, the services that can be offered are distinctly different. Therefore, the discussion of financial services in this book is organized by type of service rather than institution type.

This text is suitable for both undergraduate and master's-level courses in financial markets, financial insitutions, or both. To maximize students' comprehension, more difficult questions and problems should be assigned, along with the special applications at the end of each chapter and the comprehensive project.



Contents:

Part 1. The U.S. Financial Environment

Part 2. The Fed and monetary policy

Part 3. Equity markets

Part 4. Debt markets

Part 5. Derivative security markets

Part 6. Commercial banking

Part 7. Nonbank operations

Appendix

Glossary

Index