Topic11_cap_markets[1]

Topic11_cap_markets[1] - Thomas Moeller FINA 30153:...

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Thomas Moeller FINA 30153: Financial Management 1 Topic 11 Capital markets Objectives 1. Know who issues different types of securities 2. Learn who supplies funds 3. Discuss the role of security markets and learn about stock exchanges 4. Discuss the regulation of U.S. security markets
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Thomas Moeller FINA 30153: Financial Management 2 1. Who issues securities? U.S. Treasury - Treasury bills, notes, and bonds Federally sponsored agencies - Federal National Mortgage Association (Fannie Mae) - Federal Home Loan and Mortgage Corporation (Freddie Mac) - Student Loan Marketing Association (Sallie Mae) State and local entities - Municipal bonds - Tax-exempt - Usually supported by revenue-generating projects
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Thomas Moeller FINA 30153: Financial Management 3 Corporations - Corporate bonds - Preferred stock - Common stock -- Initial public offering (IPO) -- Secondary or seasoned equity offering
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Thomas Moeller FINA 30153: Financial Management 4 2. Who supplies funds? Internal versus external sources of funds - External funds raised using bonds and stock - Internal funds = earnings + depreciation – dividends
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This note was uploaded on 04/21/2008 for the course FINA 30153 taught by Professor Moeller during the Spring '08 term at TCU.

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Topic11_cap_markets[1] - Thomas Moeller FINA 30153:...

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