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Lecture Money and capital markets: Chapter 4 - Peter Rose, Milton Marquis

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. | Chapter 4 The Future of the Financial System and the Money and Capital Markets Learning Objectives 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. Introduction Powerful forces are reshaping financial institutions and financial services today. 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 new financial services. Financial Forces Reshaping the Money and Capital Markets Today Financial innovation - the development of many new financial services and instruments Service proliferation - the expansion of the menu of financial . | Chapter 4 The Future of the Financial System and the Money and Capital Markets Learning Objectives 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. Introduction Powerful forces are reshaping financial institutions and financial services today. 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 new financial services. Financial Forces Reshaping the Money and Capital Markets Today Financial innovation - the development of many 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 Consolidation - mergers and acquisitions have created financial giants out of numerous smaller financial-service providers Financial Forces Reshaping the Money and Capital Markets Today Deregulation - the lightening or elimination of government rules brought about by a strategy of privatization of the financial sector Convergence - the blurring of the traditional distinctions among different types of financial-service institutions Homogenization - the growing similarity in the service menus offered by financial institutions Financial Forces Reshaping the Money and Capital Markets Today Globalization - the global expansion of operations and the falling of geographical barriers Market broadening - the expansion of traditionally local markets to become regional, national, or even international in scope Securitization - the pooling of loans and the issuance of securities as claims against the loan pool Social, .