Preface

1 Introduction

2 Financial Institutions, Financial Intermediaries, and Asset Management Firms

3 Depository Institutions: Activities and Characteristics

4 The U.S. Federal Reserve and the Creation of Money

5 Monetary Policy in the United States

6 Insurance Companies

7 Investment Companies and Exchange-Traded Funds

8 Pension Funds

9 Properties and Pricing of Financial Assets

10 The Level and Structure of Interest Rates

11 The Term Structure of Interest Rates

12 Risk/Return and Asset Pricing Models

13 Primary Markets and the Underwriting of Securities

14 Secondary Markets

15 Treasury and Agency Securities Markets

16 Municipal Securities Markets

17 Markets for Common Stock: The Basic Characteristics

18 Markets for Common Stock: Structure and Organization

19 Markets for Corporate Senior Instruments: I

20 Markets for Corporate Senior Instruments: II

21 The Markets for Bank Obligations

22 The Residential Mortgage Market

23 Residential Mortgage-Backed Securities Market

24 Market for Commercial Mortgage Loans and Commercial Mortgage-Backed Securities

25 Market for Asset-Backed Securities

26 Financial Futures Markets

27 Options Markets

28 Pricing of Futures and Options Contracts

29 OTC Interest Rate Derivatives: Forward Rate Agreements, Swaps, Caps, and Floors

30 Market for Credit Risk Transfer Vehicles: Credit Derivatives and Collateralized Debt Obligations

31 The Market for Foreign Exchange and Risk Control Instruments

Index