Financial Markets, Institutions and Money. 3rd Edition

  • ID: 3335909
  • Book
  • 864 Pages
  • John Wiley and Sons Ltd
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Financial Markets, Institutions and Money, 3rd edition, introduces students to the financial system and its operations and participants. The text offers a fresh, succinct analysis of the financial markets and discusses how the many participants in the financial system interrelate. This includes coverage of regulators, regulations and the Reserve Bank of Australia (RBA), which together ensure the system s smooth running.

The text has been significantly revised to take into account changes in the financial world. The global financial crisis GFC) of 2007 09 and its impact on the efficiency of the financial system has refocused the attention of the third edition of Financial Markets, Institutions and Money on the critical role that financial systems play in an economy.

FEATURES OF THIS EDITION

  • A brand new chapter on financial mathematics.
  • In Focus vignettes have been updated and now conclude with a series of questions, making them ideal for case study and group work.
  • The GFC is considered in terms of the risk it posed to financial system stability and its impact on financial market participants.
  • The RBA s determination and implementation of monetary policy during crisis and recovery is discussed.
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About the authors xiii
Preface xv
Acknowledgements xvii

1 Overview 1

2 The monetary authorities 63

3 The Reserve Bank of Australia and interest rates 101

4 The level of interest rates 131

5 Financial mathematics 157

6 Bond prices and interest rate risk 217

7 The structure of interest rates 257

8 Money markets 285

9 Bond markets 319

10 Equity markets 351

11 Derivatives markets 391

12 Foreign exchange markets 431

13 Regulation of financial institutions 475

14 Commercial bank operations 533

15 Nonbank financial institutions 601

16 International banking 641

17 Insurance, investment companies and superannuation 681

18 Investment banking and venture capital 733

19 Sustainability and the finance sector 771

Glossary 805

Index 825

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David S. Kidwell
Mark Brimble
Anup Basu
Liam Lenten
Paul Docherty
Paul Mazzola
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