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Contemporary Financial Intermediation

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Efnisyfirlit

  • Cover
  • Title page
  • Table of Contents
  • Dedication
  • Copyright
  • Preface
  • Acknowledgments
  • About the Authors
  • Introduction
  • Part I: The Background
    • Chapter 1: Basic Concepts
      • Abstract
      • Introduction
      • Risk Preferences
      • Diversification
      • Riskless Arbitrage
      • Options
      • Market Efficiency
      • Market Completeness
      • Asymmetric Information and Signaling
      • Agency and Moral Hazard
      • Time Consistency
      • Nash Equilibrium
      • Revision of Beliefs and Bayes Rule
      • Liquidity
      • Systemic Risk
      • Disagreement
      • Mark-to-Market Accounting
  • Part II: What is Financial Intermediation?
    • Chapter 2: The Nature and Variety of Financial Intermediation
      • Abstract
      • Glossary of Terms
      • Introduction
      • What are Financial Intermediaries?
      • The Variety of Financial Intermediaries
      • Depository Financial Intermediaries
      • Investment Banks: Key Nondepository Intermediaries in the Capital Market
      • Separation Between Investment Banks and Commercial Banks Undone
      • Other Nondepository Intermediaries
      • Credit Rating Agencies
      • The Role of the Government
      • Financial Intermediaries on the Periphery
      • Conclusion
      • Review Questions
      • Appendix 2.1. Measurement Distortions and the Balance Sheet
    • Chapter 3: The What, How, and Why of Financial Intermediaries
      • Abstract
      • Glossary of Terms
      • Introduction
      • How Does the Financial System Work?
      • Business Financing: Debt
      • Fractional Reserve Banking and the Goldsmith Anecdote
      • A Model of Banks and Regulation
      • The Macroeconomic Implications of Fractional Reserve Banking: the Fixed Coefficient Model
      • Large Financial Intermediaries
      • How Banks can Help to Make Nonbank Financial Contracting More Efficient
      • The Empirical Evidence: Banks are Special
      • Ownership Structure of Depository Financial Institutions
      • The Borrower’s Choice of Finance Source
      • Conclusion
      • Review Questions
      • Appendix 3.1. The Formal Analysis of Large Intermediaries
      • Appendix 3.2. Definitions
  • Part III: Identification and Management of Major Banking Risks
    • Chapter 4: Bank Risks
      • Abstract
      • Glossary of Terms
      • Introduction
      • Basic Banking Risks
      • Credit, Interest Rate, and Liquidity Risks
      • Enterprise Risk Management
      • Conclusion
      • Review Questions
    • Chapter 5: Interest Rate Risk
      • Abstract
      • Glossary of Terms
      • Introduction
      • The Term Structure of Interest Rates
      • The Lure of Interest Rate Risk and Its Potential Impact
      • Duration
      • Convexity
      • Interest Rate Risk
      • Conclusion
      • Case Study: Eggleston State Bank
    • Chapter 6: Liquidity Risk
      • Abstract
      • Glossary of Terms
      • Introduction
      • What, After All, is Liquidity Risk?
      • Some Formal Definitions of Liquidity
      • The Management of Liquidity Risk
      • The Difficulty of Distinguishing Between Liquidity and Insolvency Risks and the LLR’s Conundrum
      • Conclusion
      • Review Questions
      • Appendix 6.1. Dissipation of Withdrawal Risk Through Diversification
      • Appendix 6.2. Lender-of-Last-Resort Moral Hazard
  • Part IV: “On Balance Sheet” Banking Activities
    • Chapter 7: Spot Lending and Credit Risk
      • Abstract
      • Glossary of Terms
      • Introduction
      • Description of Bank Assets
      • What is Lending?
      • Loans Versus Securities
      • Structure of Loan Agreements
      • Informational Problems in Loan Contracts and the Importance of Loan Performance
      • Credit Analysis: the Factors
      • Sources of Credit Information
      • Analysis of Financial Statements
      • Loan Covenants
      • Conclusion
      • Case Study: Indiana Building Supplies, Inc
      • Review Questions
    • Chapter 8: Further Issues in Bank Lending
      • Abstract
      • Glossary of Terms
      • Introduction
      • Loan Pricing and Profit Margins: General Remarks
      • Credit Rationing
      • The Spot-Lending Decision
      • Long-Term Bank–Borrower Relationships
      • Loan Restructuring and Default
      • Conclusion
      • Case Study: Zeus Steel, Inc.
      • Review Questions
    • Chapter 9: Special Topics in Credit: Syndicated Loans, Loan Sales, and Project Finance
      • Abstract
      • Glossary of Terms
      • Introduction
      • Syndicated Lending
      • Project Finance
      • Conclusion
      • Review Questions
  • Part V: Off the Bank’s Balance Sheet
    • Chapter 10: Off-Balance Sheet Banking and Contingent Claims Products
      • Abstract
      • Glossary of Terms
      • Introduction
      • Loan Commitments: a Description
      • Rationale for Loan Commitments
      • Who is Able to Borrow Under Bank Loan Commitments?
      • Pricing of Loan Commitments
      • The Differences Between Loan Commitments and Put options
      • Loan Commitments and Monetary Policy
      • Other Contingent Claims: Letters of Credit
      • Other Contingent Claims: Swaps
      • Other Contingent Claims: Credit Derivatives
      • Risks for Banks in Contingent Claims
      • Regulatory Issues
      • Conclusion
      • Case Study: Youngstown Bank
      • Review Questions
    • Chapter 11: Securitization
      • Abstract
      • Glossary of Terms
      • Introduction
      • Preliminary Remarks on the Economic Motivation for Securitization and Loan Sales
      • Different Types of Securitization Contracts
      • Going Beyond Preliminary Remarks on Economic Motivation: the “Why,” “What,” and “How Much is Enough” of Securitization
      • Strategic Issues for a Financial Institution Involved in Securitization
      • Comparison of Loan Sales and Loan Securitization
      • Conclusion
      • Case Study: Lone Star Bank
      • Review Questions
  • Part VI: The Funding of the Bank
    • Chapter 12: The Deposit Contract, Deposit Insurance, and Shadow Banking
      • Abstract
      • Glossary of Terms
      • Introduction
      • The Deposit Contract
      • Liability Management
      • Deposit Insurance
      • The Great Deposit Insurance Debacle
      • Funding in the Shadow-Banking Sector
      • Conclusion
      • Review Questions
    • Chapter 13: Bank Capital Structure
      • Abstract
      • Glossary of Terms
      • Introduction
      • Does the M&M Theorem Apply to Banks? Dispelling Some Fallacies
      • The Theories of Bank Capital Structure
      • Empirical Evidence on Bank Capital, Bank Lending, and Bank Value
      • Why Then do Banks Display a Preference for High Leverage?
      • Bank Capital and Regulation
      • Conclusion
      • Review Questions
  • Part VII: Financial Crises
    • Chapter 14: The 2007–2009 Financial Crisis and Other Financial Crises
      • Abstract
      • Glossary of Terms
      • Introduction
      • What Happened
      • Cause and Effect: The Causes of the Crisis and its Real Effects
      • The Policy Responses to the Crisis
      • Financial Crises in Other Countries and Regulatory Interventions
      • Conclusion
  • Part VIII: Bank Regulation
    • Chapter 15: Objectives of Bank Regulation
      • Abstract
      • Glossary of Terms
      • Introduction
      • The Essence of Bank Regulation
      • The Agencies of Bank Regulation
      • Safety and Soundness Regulation
      • Stability: Macroprudential Regulation
      • Market Structure, Consumer Protection, Credit Allocation, and Monetary Control Regulation
      • Conclusion
      • Review Questions
    • Chapter 16: Milestones in Banking Legislation and Regulatory Reform
      • Abstract
      • Glossary of Terms
      • Introduction
      • Milestones of Banking Legislation
      • Problems of Bank Regulation
      • The 1991 FDICIA and Beyond
      • The Financial Services Modernization Act of 1999
      • The Dodd–Frank Wall Street Reform and Consumer Protection Act
      • EU Regulatory and Supervisory Overhaul and the De Larosière Report
      • Conclusion
      • Review Questions
      • Appendix
  • Part IX: Financial Innovation
    • Chapter 17: The Evolution of Banks and Markets and the Role of Financial Innovation
      • Abstract
      • Glossary of Terms
      • Introduction
      • Financial Development
      • Financial Innovation
      • The Dark Side of Financial Innovation
      • Banks and Financial Markets
      • Bank Versus Market: Complementarities and Shadow Banking
      • Role of Credit-Rating Agencies
      • Conclusion
      • Review Questions
  • Part X: The Future
    • Chapter 18: The Future
      • Abstract
      • Glossary of Terms
      • Introduction
      • Change Drivers
      • Initiatives that are Changing the Landscape
      • Are Banks Doomed?
      • Conclusion
  • Subject Index

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Vörumerki: Elsevier
Vörunúmer: 9780124051966
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Contemporary Financial Intermediation

Vörumerki: Elsevier
Vörunúmer: 9780124051966
Rafræn bók. Uppl. sendar á netfangið þitt eftir kaup
15.990 kr.
Get the product now
15.990 kr.