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Global Financial Institutions and Markets


Global Financial Institutions and Markets is the first financial institutions and markets text to thoroughly integrate international coverage throughout. Using a developmental perspective, the book compares and contrasts the structure and trends of both US and international financial markets and institutions. Explanations of the regulatory environment - as well as of market practices and trends - provides advanced undergraduates, MBAs, and finance professionals with insights into international differences in corporate culture. Academics will delight in the extensive pedagogy supporting the text.

Topics cover every aspect of financial institutions and markets:

  • Domestic money and capital market.
  • Changing roles of financial institutions.
  • International financial markets.
  • Internationalization of financial services.
  • Interest rates.
  • Developments in derivatives markets.
  • Bank valuation methodology.
  • Universal banking.
  • Non-bank financial institutions.
  • Technological change.

Hazel J. Johnson is Distinguished University Scholar at the University of Louisville and Professor of Finance. Dr. Johnson was formerly a member of the finance faculty of Georgetown University. She has authored more than 20 books in the areas of international banking, bank asset/liability management, bank valuation, corporate finance, and international economics. With publications in the US, Europe, Latin America, and Asia, Dr. Johnson's work has been translated into Japanese and Spanish. In addition, she has developed software systems for business practitioners in the areas of bank valuation, capital budgeting, cost of capital, and mergers and acquisitions. Dr. Johnson has acted as a consultant to more than 50 major US banks and a number of state and federal agencies.

How to Use This Book.

1. Overview of Financial Intermediation.

Part I: Domestic Money Markets:.

2. Money.

3. Money Markets.

Part II: Domestic Capital Markets:.

4. Capital Market Instruments.

5. Capital Markets and International Diversification.

6. Investment Banking.

7. Derivative Securities.

Part III: International Financial Markets:.

8. Foreign Exchange Markets.

9. Euromarkets and the European Union.

Part IV: The Interest Rate Environment:.

10. Interest Rate Fundamentals.

11. Interest and Exchange Rate Patterns.

Part V: Bank Regulation:.

12. The Formation of US Bank Regulation and the Federal Reserve System.

13. US Monetary Policy, Deregulation and Deposit Insurance.

14. Central Banks and Regulatory Systems Outside the US.

Part VI: Management of Financial Institutions:.

15. Profitability, Liquidity and Liability Management.

16. Investment and Loan Portfolio Management.

17. Capital and Asset/Liability Management.

18. Bank Valuation.

19. Regional Trade Agreements and Financial Services.

Part VII: Bank Operations:.

20. Commercial and Non-Commercial Banks.

21. The Domestic Operations of Commercial Banks.

22. The International Operations of Commercial Banks.

23. The Impact of Technological Change.

24. Commercial Banks and the Securities Markets.

25. Nationwide Banking and the Riegle-Neal Act.

Part VIII: Nonbank Financial Institutions:.

26. Savings and Loan Associations and Mutual Savings Banks.

27. Credit Unions.

28. Investment Companies.

29. Pension Funds.

30. Insurance Companies.

31. Finance Companies.

Appendix A.