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Lecture Money and capital markets: Chapter 11 – Peter S. Rose, Milton H.Marquis

In this chapter we will: Examine the business of banking, see where depository institutions get their funds and what they do with them, study the sources of banks’ liabilities and learn how they manage their assets, and examine the sources of risk that bankers face, as well as how those risks can be managed. | Chapter 11 Commercial Banks, Major Corporations, and Federal Credit Agencies in the Money Market Learning Objectives To discover how banks and other depository institutions borrow and lend funds and supply other critical services in the money market. To explore the nature and characteristics of commercial papers as well as the roles played by large corporations in the money market. To learn how federal credit agencies provide financial aid to certain sectors of the economy. Learning Objectives To see internationalization at work in the money market. Introduction The money market supplies the cash needs of short-term borrowers and provides savers who hold temporary cash surpluses with an interest-bearing outlet for their funds. In this chapter, we will explore how commercial banks, major corporations, and government-sponsored credit agencies contribute to the global money market. The Roles Played by Banks in the Money Market Principal channel for payments for loans, securities | Chapter 11 Commercial Banks, Major Corporations, and Federal Credit Agencies in the Money Market Learning Objectives To discover how banks and other depository institutions borrow and lend funds and supply other critical services in the money market. To explore the nature and characteristics of commercial papers as well as the roles played by large corporations in the money market. To learn how federal credit agencies provide financial aid to certain sectors of the economy. Learning Objectives To see internationalization at work in the money market. Introduction The money market supplies the cash needs of short-term borrowers and provides savers who hold temporary cash surpluses with an interest-bearing outlet for their funds. In this chapter, we will explore how commercial banks, major corporations, and government-sponsored credit agencies contribute to the global money market. The Roles Played by Banks in the Money Market Principal channel for payments for loans, securities & other transactions Banks’ Money Market Roles Agents in trust for property management on behalf of bank customers Direct lenders to money market borrowers Guarantors of performance & payment Channel for government money & credit policy Custody agents for safekeeping securities owned by market participants and pledged as collateral for loans Federal Funds Provided by the Banking System Federal funds are any monies available for immediate payment (i.e. same-day money). They are generally transferred from one depository institution to another by simple bookkeeping entries requested via an on-line computer system, by wire, or by telephone. Federal funds are the principal means of making payments in the money market. Federal Funds Provided by the Banking System The term federal funds came about because early in the development of the market, the principal source of immediately-available money was the reserve balance that each Federal Reserve System member bank had to keep at the Federal .