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Banking • Types of Banking Institutions • Commercial Banks • Savings Institutions • Credit Unions • Balance Sheet of Commercial Banks • Assets: uses of funds • Cash • Securities • Loans
19 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 685 | Lượt tải: 0
Review of the Previous Lecture • Role of Financial Intermediaries • Pool Savings • Safekeeping, accounting services and access to the payments system; • Liquidity; • Information Services • Risk diversification • Information Asymmetry and Information Costs • Adverse Selection • Moral Hazards
21 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 575 | Lượt tải: 0
Review of the Previous Lecture • Role of Financial Intermediaries • Pool Savings • Safekeeping, accounting services and access to the payments system;
31 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 728 | Lượt tải: 0
Review of the Previous Lecture • Theory of Efficient Markets • Investing in Stocks for Long Run • Stock Markets’ Role in the Economy • Financial Intermediation
15 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 691 | Lượt tải: 0
Topics under Discussion • Stocks • Risk and the Value of Stocks • Theory of Efficient Markets • Investing in Stocks for Long Run • Stock Markets’ Role in the Economy • Financial Intermediation • Role of Financial Intermediaries
32 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 623 | Lượt tải: 0
Review of the Previous Lecture • Bonds and Their Characteristics • Stocks • Essential Characteristics • Process • Measuring Level of a Stock Market
23 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 623 | Lượt tải: 0
The Liquidity Premium Theory • Risk is the key to understanding the slope of the yield curve • The yield curve’s upward slope is due to long-term bonds being riskier than shortterm bonds • Bondholders face both inflation and interest-rate. The longer the term the greater the inflation and interest-rate risk
25 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 717 | Lượt tải: 0
Review of the Previous Lecture • Bonds and Risk • Default Risk • Inflation Risk • Interest Rate Risk • Bond Ratings • Bond Ratings and Risk
18 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 627 | Lượt tải: 0
Review of the Previous Lecture • Factors Influencing Bond Supply • Factors Influencing Bond Demand • Equilibrium Conditions
27 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 724 | Lượt tải: 0
Review of the Previous Lecture • Bonds • Yield to Maturity • Current Yield • Holding Period Returns • Bond Supply, Demand and Equilibrium
21 trang | Chia sẻ: nguyenlinh90 | Ngày: 19/07/2019 | Lượt xem: 671 | Lượt tải: 0