FIN4320_Lecture_4_US_Financial_Environement(40p)

FIN4320_Lecture_4_US_Financial_Environement(40p) - The U.S....

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The U.S. Financial Environment
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Financial Markets Money Market versus Capital Markets Primary versus Secondary Markets Organized versus OTC Markets
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Financial Markets Public Offerings versus Private Placements Flotation Costs
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What Is A Bank? Depository Financial Intermediaries Commercial Banks Thrifts Savings and Loan Associations Mutual Savings Banks Credit Unions Mutual Savings Banks
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Non-Depository Financial Intermediaries Consumer Finance Companies Insurance Companies Pension Funds Mutual Funds Industrial Credit and Capital Companies Factors
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What Do Banks Do? Payments Intermediation Other Financial Services
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Why Do We Have Financial Intermediation? Because Claims Differ In: Denomination Maturity Credit Risk Liquidity/interest Rate Sensitivity Foreign Currency
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Benefits Of Financial Intermediation Specialization Reduce Credit Search Costs Confidentiality Additional Related Information Payments System Deposit Insurance
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Intermediation Services Deposit Accounts Credit Services Guarantor Fiduciary Agent Other
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Deposit Accounts Demand Deposits Transactions Compensating Balances Correspondent Balances Money Market Deposit Accounts NOW Accounts
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Deposit Accounts Time Deposits Savings Accounts/Passbooks CDs Negotiable CDs Retail CDs
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Credit Services Loans Short-Term Long-Term Leases Mortgages
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Guarantor and Trade Services Letter Of Credit Standby Letter Of Credit Credit Enhancement Letters Of Credit Confirmation Documentary Collections Banker’s Acceptances
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Trust Services
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FIN4320_Lecture_4_US_Financial_Environement(40p) - The U.S....

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