An introduction to western financial markets

Gespeichert in:
Bibliographische Detailangaben
Späterer Titel:Valdez, Stephen An introduction to global financial markets
1. Verfasser: Valdez, Stephen (VerfasserIn)
Format: Buch
Sprache:English
Veröffentlicht: Basingstoke u.a. Macmillan 1993
Ausgabe:1. publ.
Schlagworte:
Online-Zugang:Inhaltsverzeichnis
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!

MARC

LEADER 00000nam a2200000 c 4500
001 BV008882286
003 DE-604
005 19970730
007 t|
008 940210s1993 xx d||| |||| 00||| eng d
020 |a 0333597664  |9 0-333-59766-4 
020 |a 0333597672  |9 0-333-59767-2 
035 |a (OCoLC)32088641 
035 |a (DE-599)BVBBV008882286 
040 |a DE-604  |b ger  |e rakddb 
041 0 |a eng 
049 |a DE-19  |a DE-188 
050 0 |a HG174 
082 0 |a 332  |2 21 
084 |a QK 600  |0 (DE-625)141666:  |2 rvk 
100 1 |a Valdez, Stephen  |e Verfasser  |4 aut 
245 1 0 |a An introduction to western financial markets  |c Stephen Valdez 
250 |a 1. publ. 
264 1 |a Basingstoke u.a.  |b Macmillan  |c 1993 
300 |a XIV, 301 S.  |b graph. Darst. 
336 |b txt  |2 rdacontent 
337 |b n  |2 rdamedia 
338 |b nc  |2 rdacarrier 
650 7 |a Bankwezen  |2 gtt 
650 7 |a Financiën  |2 gtt 
650 7 |a Kapitaalmarkt  |2 gtt 
650 4 |a Finance  |z Europe 
650 4 |a Finance  |z Japan 
650 4 |a Finance  |z United States 
650 4 |a Financial institutions  |z Europe 
650 4 |a Financial institutions  |z Japan 
650 4 |a Financial institutions  |z United States 
650 0 7 |a Internationaler Kreditmarkt  |0 (DE-588)4120506-6  |2 gnd  |9 rswk-swf 
650 0 7 |a Internationaler Kapitalmarkt  |0 (DE-588)4027402-0  |2 gnd  |9 rswk-swf 
650 0 7 |a Kreditmarkt  |0 (DE-588)4073788-3  |2 gnd  |9 rswk-swf 
651 4 |a Europa 
651 4 |a USA 
655 7 |8 1\p  |0 (DE-588)4151278-9  |a Einführung  |2 gnd-content 
655 7 |8 2\p  |0 (DE-588)4123623-3  |a Lehrbuch  |2 gnd-content 
689 0 0 |a Internationaler Kreditmarkt  |0 (DE-588)4120506-6  |D s 
689 0 |5 DE-188 
689 1 0 |a Internationaler Kapitalmarkt  |0 (DE-588)4027402-0  |D s 
689 1 |8 3\p  |5 DE-604 
689 2 0 |a Kreditmarkt  |0 (DE-588)4073788-3  |D s 
689 2 |8 4\p  |5 DE-604 
785 0 0 |i Später u.d.T.  |a Valdez, Stephen  |t An introduction to global financial markets  |w (DE-604)BV022823599 
856 4 2 |m HBZ Datenaustausch  |q application/pdf  |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005875544&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA  |3 Inhaltsverzeichnis 
883 1 |8 1\p  |a cgwrk  |d 20201028  |q DE-101  |u https://d-nb.info/provenance/plan#cgwrk 
883 1 |8 2\p  |a cgwrk  |d 20201028  |q DE-101  |u https://d-nb.info/provenance/plan#cgwrk 
883 1 |8 3\p  |a cgwrk  |d 20201028  |q DE-101  |u https://d-nb.info/provenance/plan#cgwrk 
883 1 |8 4\p  |a cgwrk  |d 20201028  |q DE-101  |u https://d-nb.info/provenance/plan#cgwrk 
943 1 |a oai:aleph.bib-bvb.de:BVB01-005875544 

Datensatz im Suchindex

_version_ 1819640521610493952
adam_text Contents Acknowledgements xiii Preface xv 1 The Debt Merry Go Round 1 RAISON D ETRE OF THE MARKETS 1 Lenders 1 Borrowers 2 Securities 3 RAISING CAPITAL 4 Bank Loans 4 Bonds 4 Equity 5 Gearing 5 CONCLUSION 7 2 Banking (I) Background 9 HISTORY 9 BANKING SUPERVISION 12 TYPES OF BANK: DEFINITIONS 12 OTHER BANKING TERMINOLOGY 19 A BANK S BALANCE SHEET 20 THE CREATION OF CREDIT 22 Banking Depends on Confidence 23 The Money Supply 23 Liquidity Ratios 24 The Capital Ratio 24 CAPITAL RATIO 24 The Basic Concept 24 The Basle Committee 25 Increasing Capital Ratio 26 CENTRAL BANK REPORTING 27 THE SECOND BANKING DIRECTIVE 28 MAJOR WORLD BANKS 29 v vi Contents APPENDIX 1 MAJOR BANKS ACROSS THE WORLD 33 Main European Banks 33 United States and Japan 35 APPENDIX 2 INTERNATIONAL BANKING COOPERATION AND MERGERS 36 3 Banking (II) The Role of the Central Bank 38 HISTORY OF THE MAJOR CENTRAL BANKS 38 UK 38 USA 38 France 39 Germany 39 CENTRAL BANK ACTIVITIES 40 Supervision of the Banking System 41 Monetary Policy 41 Banknotes 42 Banker to the Other Banks 43 Banker to the Government 44 Raising Money for the Government 44 Controlling the Nation s Currency Reserves 46 Acting as Lender of Last Resort 46 Liaison with International Bodies 47 4 Banking (III) Commercial Banking 49 INTRODUCTION 49 RETAIL BANKING 49 Types of Service 49 Money Banking Deposits 50 Money Banking Bank Lending 52 Home Banking 54 Other Services 54 Clearing Systems 56 Key Retail Banking Issues 57 WHOLESALE BANKING 62 BANK LENDING 63 Uncommitted Facilities 63 Committed Facilities 64 Syndicated Facilities 67 The Loan Agreement 72 Contents vii 5 Banking (IV) Investment Banking 74 INTRODUCTION 74 INVESTMENT BANKING 74 Accepting 74 Corporate Finance 78 Securities Trading 80 Investment Management 81 Loan Arrangement 82 Foreign Exchange 82 Miscellaneous Activities 83 REGULATION 83 6 The Money and Bond Markets 85 THE RATE OF INTEREST 85 Risk 85 Maturity 86 Expectations 86 Liquidity 87 Supply and Demand 87 Inflation 88 YIELD 88 Par Values 88 Interest Yield 89 Gross Redemption Yield 90 Accrued Interest 92 CREDIT RATINGS 93 DOMESTIC MONEY MARKETS 94 Call Money 95 The Interbank Market 95 Money Market Securities 97 Treasury Bills 97 Local Authority/Public Utility Bills 98 Certificates of Deposit (CDs) 98 Commercial Paper (CP) 99 Bills of Exchange 100 CENTRAL BANK ROLE 101 UK Discount Houses 102 DOMESTIC BOND MARKETS 104 Introduction 104 Government Bonds 105 Local Authority/Public Sector Bonds 108 viii Contents Mortgage Bonds 108 Corporate Bonds 108 Foreign Bonds 110 Junk Bonds 111 INTERNATIONAL MARKETS 112 Background: Eurocurrencies 112 The Syndicated Loan Market 113 The International Debt Crisis 114 The Eurobond Market 117 Medium Term Notes (MTNs) 121 The Money Markets 121 Statistics 122 7 Foreign Exchange 126 INTRODUCTION 126 The Market 126 Buyers and Sellers 126 Bank Profits 127 WHAT DETERMINES EXCHANGE RATES? 128 BRETTON WOODS 131 Exchange Rate Stability 131 International Monetary Fund 132 The World Bank 133 FLOATING RATES 133 THE EUROPEAN MONETARY SYSTEM (EMS) 135 The Exchange Rate Mechanism 135 The Ecu 137 THE EUROPEAN MONETARY COOPERATION FUND 139 EUROPEAN MONETARY UNION (EMU) 140 FOREIGN EXCHANGE RISK FOR CORPORATES 141 Types of Risk 141 Transaction Risk Forward Rates 143 Transaction Risk Options 145 FOREIGN EXCHANGE DEALING 148 Quotations 148 Cross Rates 149 Foreign Exchange Swaps 150 Brokers 152 Settlement 152 ARBITRAGE 154 Contents ix CENTRAL BANK SURVEYS 155 WHY LONDON? 157 APPENDIX 158 8 Finance for Trade 159 GENERAL PROBLEMS 159 PAYMENT SERVICES 159 COLLECTION OF DEBTS 161 EXTENSION OF CREDIT 162 Bill of Exchange 162 Documentary Letter of Credit 162 Types of Documentary Credit 164 Documentary Collection 166 FINANCE FOR THE EXPORTER 167 FOREIGN EXCHANGE 168 TRADING GUARANTEES 168 MISCELLANEOUS SERVICES 171 9 Stock Exchanges 172 HISTORY OF ASSOCIATIONS FOR TRADING 172 STOCKS AND SHARES 173 INTERNATIONAL EQUITY 176 INDICES 176 WHO OWNS SHARES ? 179 Small Investors vs Institutions 179 Pension Funds: Funding vs Unfunding 179 Equity Investment 182 Mutual Funds 183 Active vs Passive Management 185 East Europe 185 DEALING SYSTEMS 185 Order Driven Systems 186 Quote Driven Systems 188 Hybrid Systems 191 Inter Dealer Brokers 192 Stock Borrowing and Lending 192 SETTLEMENT 193 NEW ISSUES 194 x Contents RIGHTS ISSUES 195 SCRIP ISSUES AND SPLITS 196 SECOND MARKETS 198 ANALYSTS RATIOS 198 DEREGULATION 200 EC RULES 203 Investment Services Directive 203 Capital Adequacy Directive 204 Mergers and Acquisitions 204 10 Traded Options 206 DERIVATIVE PRODUCTS 206 TRADED OPTIONS: EQUITIES 207 Calls and Puts 207 Option Writers 209 Trading Options 209 Intrinsic Value and Time Value 211 Calculation of the Premium 212 Exercise or Trade? 214 Other Terminology 215 Options on Indices 216 TRADED OPTION: OTHER OPTIONS 218 Currencies 218 Bonds 218 Interest Rates 219 OPTION STRATEGIES 221 11 Financial Futures 224 FUTURES TRADING 224 Background 224 Hedgers vs Speculators 224 Commodity Futures 226 Financial Futures 228 Index Futures 230 Bond Futures 232 Interest Rates 233 Currency Futures 235 Some Problems of Futures Exchanges 235 Open Outcry or Computers? 236 Contract Volumes 237 Contents xi 12 Other Derivative Products 239 INTRODUCTION 239 FORWARD RATE AGREEMENTS (FRAS) 239 SWAPS 242 Comparative Advantage 242 Interest Rate Swaps 244 Making a Market in Swaps 244 Users of Swaps 246 Swaps and Futures 248 Other Swaps 249 CURRENCY SWAPS 249 CAPS, FLOORS AND COLLARS 250 Introduction 250 Caps 251 Floors 251 Collars 252 THE MARKET IN DERIVATIVE INSTRUMENTS 253 13 Insurance 255 BACKGROUND TO THE INSURANCE MARKETS 255 History 255 The Insurance Market 256 Assurance/Insurance 256 Regulation 257 Distribution 258 Self Insurance 259 REINSURANCE 259 Definitions 259 Proportional and Non Proportional Reinsurance 260 Financial Reinsurance 261 The Reinsurance Market 261 LLOYD S 262 Organisation 262 Lloyd s Problems 264 THE MARKET TODAY 268 EC REGULATION 270 xii Contents 14 Key Trends 271 INTRODUCTION 271 DEREGULATION 271 REREGULATION 272 MERGERS/COOPERATION 273 BANCASSURANCE/ALLFINANZ 274 DEMOGRAPHIC FACTORS 274 THE EC 275 INNOVATION 275 CONCLUSION 277 Glossary 278 Index 294
any_adam_object 1
author Valdez, Stephen
author_facet Valdez, Stephen
author_role aut
author_sort Valdez, Stephen
author_variant s v sv
building Verbundindex
bvnumber BV008882286
callnumber-first H - Social Science
callnumber-label HG174
callnumber-raw HG174
callnumber-search HG174
callnumber-sort HG 3174
callnumber-subject HG - Finance
classification_rvk QK 600
ctrlnum (OCoLC)32088641
(DE-599)BVBBV008882286
dewey-full 332
dewey-hundreds 300 - Social sciences
dewey-ones 332 - Financial economics
dewey-raw 332
dewey-search 332
dewey-sort 3332
dewey-tens 330 - Economics
discipline Wirtschaftswissenschaften
edition 1. publ.
format Book
fullrecord <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02590nam a2200649 c 4500</leader><controlfield tag="001">BV008882286</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">19970730 </controlfield><controlfield tag="007">t|</controlfield><controlfield tag="008">940210s1993 xx d||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0333597664</subfield><subfield code="9">0-333-59766-4</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0333597672</subfield><subfield code="9">0-333-59767-2</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)32088641</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV008882286</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakddb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-19</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HG174</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332</subfield><subfield code="2">21</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QK 600</subfield><subfield code="0">(DE-625)141666:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Valdez, Stephen</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">An introduction to western financial markets</subfield><subfield code="c">Stephen Valdez</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">1. publ.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Basingstoke u.a.</subfield><subfield code="b">Macmillan</subfield><subfield code="c">1993</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XIV, 301 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Bankwezen</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Financiën</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Kapitaalmarkt</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance</subfield><subfield code="z">Europe</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance</subfield><subfield code="z">Japan</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial institutions</subfield><subfield code="z">Europe</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial institutions</subfield><subfield code="z">Japan</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial institutions</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Internationaler Kreditmarkt</subfield><subfield code="0">(DE-588)4120506-6</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Internationaler Kapitalmarkt</subfield><subfield code="0">(DE-588)4027402-0</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Kreditmarkt</subfield><subfield code="0">(DE-588)4073788-3</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">Europa</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">USA</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="8">1\p</subfield><subfield code="0">(DE-588)4151278-9</subfield><subfield code="a">Einführung</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="8">2\p</subfield><subfield code="0">(DE-588)4123623-3</subfield><subfield code="a">Lehrbuch</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Internationaler Kreditmarkt</subfield><subfield code="0">(DE-588)4120506-6</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-188</subfield></datafield><datafield tag="689" ind1="1" ind2="0"><subfield code="a">Internationaler Kapitalmarkt</subfield><subfield code="0">(DE-588)4027402-0</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="1" ind2=" "><subfield code="8">3\p</subfield><subfield code="5">DE-604</subfield></datafield><datafield tag="689" ind1="2" ind2="0"><subfield code="a">Kreditmarkt</subfield><subfield code="0">(DE-588)4073788-3</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="2" ind2=" "><subfield code="8">4\p</subfield><subfield code="5">DE-604</subfield></datafield><datafield tag="785" ind1="0" ind2="0"><subfield code="i">Später u.d.T.</subfield><subfield code="a">Valdez, Stephen</subfield><subfield code="t">An introduction to global financial markets</subfield><subfield code="w">(DE-604)BV022823599</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&amp;doc_library=BVB01&amp;local_base=BVB01&amp;doc_number=005875544&amp;sequence=000002&amp;line_number=0001&amp;func_code=DB_RECORDS&amp;service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">1\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">2\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">3\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">4\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-005875544</subfield></datafield></record></collection>
genre 1\p (DE-588)4151278-9 Einführung gnd-content
2\p (DE-588)4123623-3 Lehrbuch gnd-content
genre_facet Einführung
Lehrbuch
geographic Europa
USA
geographic_facet Europa
USA
id DE-604.BV008882286
illustrated Illustrated
indexdate 2024-12-23T12:53:36Z
institution BVB
isbn 0333597664
0333597672
language English
oai_aleph_id oai:aleph.bib-bvb.de:BVB01-005875544
oclc_num 32088641
open_access_boolean
owner DE-19
DE-BY-UBM
DE-188
owner_facet DE-19
DE-BY-UBM
DE-188
physical XIV, 301 S. graph. Darst.
publishDate 1993
publishDateSearch 1993
publishDateSort 1993
publisher Macmillan
record_format marc
spellingShingle Valdez, Stephen
An introduction to western financial markets
Bankwezen gtt
Financiën gtt
Kapitaalmarkt gtt
Finance Europe
Finance Japan
Finance United States
Financial institutions Europe
Financial institutions Japan
Financial institutions United States
Internationaler Kreditmarkt (DE-588)4120506-6 gnd
Internationaler Kapitalmarkt (DE-588)4027402-0 gnd
Kreditmarkt (DE-588)4073788-3 gnd
subject_GND (DE-588)4120506-6
(DE-588)4027402-0
(DE-588)4073788-3
(DE-588)4151278-9
(DE-588)4123623-3
title An introduction to western financial markets
title_auth An introduction to western financial markets
title_exact_search An introduction to western financial markets
title_full An introduction to western financial markets Stephen Valdez
title_fullStr An introduction to western financial markets Stephen Valdez
title_full_unstemmed An introduction to western financial markets Stephen Valdez
title_new Valdez, Stephen An introduction to global financial markets
title_short An introduction to western financial markets
title_sort an introduction to western financial markets
topic Bankwezen gtt
Financiën gtt
Kapitaalmarkt gtt
Finance Europe
Finance Japan
Finance United States
Financial institutions Europe
Financial institutions Japan
Financial institutions United States
Internationaler Kreditmarkt (DE-588)4120506-6 gnd
Internationaler Kapitalmarkt (DE-588)4027402-0 gnd
Kreditmarkt (DE-588)4073788-3 gnd
topic_facet Bankwezen
Financiën
Kapitaalmarkt
Finance Europe
Finance Japan
Finance United States
Financial institutions Europe
Financial institutions Japan
Financial institutions United States
Internationaler Kreditmarkt
Internationaler Kapitalmarkt
Kreditmarkt
Europa
USA
Einführung
Lehrbuch
url http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005875544&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
work_keys_str_mv AT valdezstephen anintroductiontowesternfinancialmarkets