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Lecture Money and capital markets: Financial institutions and instruments in a global marketplace (8th edition): Chapter 4 - Peter S. Rose

Chapter 4 - The future of the financial system and the money and capital markets. After completing this chapter, students will be able to explore the economic, demographic, social, and technological forces reshaping the financial system today; to learn about recent trends in the financial system and how they may affect us in the future; to understand how the problems the financial system faces today may affect its future, leading to a new financial marketplace. | Money and Capital Markets 4 C h a p t e r Eighth Edition Financial Institutions and Instruments in a Global Marketplace Peter S. Rose McGraw Hill / Irwin Slides by Yee-Tien (Ted) Fu The Future of the Financial System and the Money and Capital Markets Learning Objectives To understand the economic, demographic, social, and technological forces reshaping the financial system today. To study where recent trends in the financial system appear to be leading us and how we may be affected. To understand how the problems of the financial system today may influence the shape of the financial marketplace of the future. Introduction Powerful forces are reshaping the financial system today, as well as the public’s demand for financial services. These forces for change include powerful new trends within the financial sector itself, major changes in the structure and functioning of the economy, and new social and demographic trends that are altering the public’s need for innovative financial . | Money and Capital Markets 4 C h a p t e r Eighth Edition Financial Institutions and Instruments in a Global Marketplace Peter S. Rose McGraw Hill / Irwin Slides by Yee-Tien (Ted) Fu The Future of the Financial System and the Money and Capital Markets Learning Objectives To understand the economic, demographic, social, and technological forces reshaping the financial system today. To study where recent trends in the financial system appear to be leading us and how we may be affected. To understand how the problems of the financial system today may influence the shape of the financial marketplace of the future. Introduction Powerful forces are reshaping the financial system today, as well as the public’s demand for financial services. These forces for change include powerful new trends within the financial sector itself, major changes in the structure and functioning of the economy, and new social and demographic trends that are altering the public’s need for innovative financial services. Financial Forces Reshaping the Financial System Today Financial innovation - the development of new financial services and instruments Service proliferation - the expansion of the menu of financial services offered Competition - the intense struggle for the customer’s business Homogenization - the blurring of the traditional distinctions among the different types of financial institutions Financial Forces Reshaping the Financial System Today Consolidation and convergence - mergers and acquisitions across sectors have created financial giants and decreased the number of firms in the industry Deregulation - the lightening or elimination of government rules Globalization - the global expansion of operations and the falling of geographical barriers Financial Forces Reshaping the Financial System Today Harmonization - the coordination of financial and economic policies Market broadening - the expansion of traditionally local markets to become regional, national, or even .