资本市场和金融机构.ppt

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2025-02-08 发布于四川
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资本市场和金融机构.ppt

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1CAPITALMARKETSANDFINANCIALINSTITUTIONS(BUS498)ByARTURORUBALCAVA

2Thiscourseexamines:ThewayinwhichFinancialMarketsfunctionThepivotalroleplayedbyFinancialinstitutionsMainemphasis:CoverageofCanadianmarketsandinstitutionsCoverageofriskmeasurementandmanagementRisk-returntradeoffsavailabletoinvestors.

Introduction3FinancialSystem1FinancialMarkets2FinancialInstitutions3EconomicfunctionsofFIs4FinancialInnovation5RegulationoftheFinancialSystem6Conclusions7

1.FinancialSystemItsmainroleistogathermoneyfrompartiesthathavemoremoneythantheyneedrightnowandroutethosefundstothosethatcanusethemforeitherbusinessorconsumerexpenditures.1ThisisfacilitatedbyFinancialMarketsandFinancialInstitutions2

52.FinancialMarketsMarketswherepartiesbuyandsellfinancialinstrumentsincludingstocks,bonds,options,foreignexchangecontracts.Example:BCEneedstofinancea$400milliontelecomproject.Itcangetthemoneyvia:A)FinancialMarketsbyborrowingdirectlyfrominvestors(e.g.,households)B)ByborrowingindirectlyfromhouseholdsviaaFinancialIntermediary(e.g.,acommercialbank). HouseholdsNortel$$BondsBondsFinancialMarketsA)

6Financialmarkets:ClassificationMoneyMarket.ShorttermdebtinstrumentsMaturityofsecurities1yearE.g.,commercialpaper,T-billsCapitalMarketsMaturityofsecurities1yearDebtMarkets(GovernmentSecuritiesMarket,MunicipalBondMarkets,CorporateDebtMarkets)StockMarket(TSX),DepositaryReceiptsMarketForeignExchangemarkets.MarketsinwhichforeigncurrenciesaretradedOtherMarkets:FinancialDerivativeMarkets

7FinancialMarkets:AlternativeclassificationPrimaryMarket.Marketfornewissueofsecuritiessoldtoinitialbuyersbyinvestmentbankers.SecondaryMarket.Marketinwhichalready-issuedsecuritiesaretradedamonginvestorsBrokers.Matchbuyersandsellersforafee.Dealers.Sellandbuysecuritiesfromb