tailieunhanh - Lecture Money and capital markets: Financial institutions and instruments in a global marketplace (8th edition): Chapter 11 - Peter S. Rose
Chapter 11 - Money market instruments: Treasury bills, repurchase agreements, federal funds, and bank CDs. After studying this chapter you will be able to: examine the characteristics of Treasury bills and the workings of the government securities market, learn how securities dealers operate and why they are so important to the functioning of the money market. | Money and Capital Markets 11 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 Money Market Instruments: Treasury Bills, Repurchase Agreements, Federal Funds, and Bank CDs Learning Objectives To examine the characteristics of Treasury bills and the workings of the government securities market. To learn how securities dealers operate and why they are so important to the functioning of the money market. To understand how banks borrow and lend funds through Federal funds trading and the issuance of CDs. Learning Objectives To see the impact that the managerial strategy known as liability management has on bank performance and practice in recent years. 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 focus on securities dealers . | Money and Capital Markets 11 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 Money Market Instruments: Treasury Bills, Repurchase Agreements, Federal Funds, and Bank CDs Learning Objectives To examine the characteristics of Treasury bills and the workings of the government securities market. To learn how securities dealers operate and why they are so important to the functioning of the money market. To understand how banks borrow and lend funds through Federal funds trading and the issuance of CDs. Learning Objectives To see the impact that the managerial strategy known as liability management has on bank performance and practice in recent years. 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 focus on securities dealers and banks, and explore in detail four popular money market instruments – Treasury bills, repurchase agreements, Federal funds, and bank CDs. . Treasury Bills . Treasury bills (T-bills) are direct obligations of the . government that have an original maturity of one year or less. Tax revenues or any other source of government funds may be used to repay the holders of these financial instruments. They carry great weight in the financial system due to their zero (or nearly zero) default risk, ready marketability, and high liquidity. Volume of . Treasury Bills Outstanding Data Source: Board of Governors of the Federal Reserve System 1960 $ $ % 1965 1970 1975 1980 1985 1, 1990 2, 1995 3, 2000 2, 2001 2, End of Year Total Volume of Bills Outstanding ($ Billions) Marketable Public Debt of the . ($ Billions) T-bills as a
đang nạp các trang xem trước
