Financial Markets and Institutions, 4/e offers a unique analysis of the risks faced by investors and savers interacting through financial institutions and financial markets, as well as strategies that can be adopted for controlling and managing risks. Special emphasis is put on new areas of operations in financial markets and institutions such as asset securitization, off-balance-sheet activities, and globalization of financial services."Financial Markets and Institutions by Anthony Saunders and Marcia Millon Cornett continues to offer a unique rich and pedagogy to help students retain and apply chapter concepts. The Fourth Edition uses a strong market focus and a modern risk management framework to look at how new risks have evolved, how the more traditional risks have changed as a result, and how all these risks can be measured and managed. Clear, concise evaluations and updated content ensure that novices and experts alike will benefit from this text."--BOOK JACKET.Anthony Saunders is the John M. Schiff Professor of Finance and the Chair of the Department of Finance at the Stern School of Business at New York University. Professor Saunders received his PhD from the London School of Economics and has taught both undergraduate and graduate level courses at NYU since 1978. Throughout his academic career, his teaching and research have specialized in financial institutions and international banking. He has served as a visiting professor all over the world, including INSEAD, the Stockholm School of Economics, and the University of Melbourne. He is currently on the Executive Committee of the Salomon Center for the Study of Financial Institutions, NYU.His research has been published in all the major money and banking and finance journals and in several books. In addition, he has authored or co-authored several professional books, the most recent of which is Credit Risk Measurement: New Approaches to Value at Risk and Other Paradigms, John Wiley and Sons, New York, 1999
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| Introduction and Overview of Financial Markets | |
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| Introduction | |
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| Determinants of Interest Rates | |
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| Interest Rates and Security Valuation | |
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| The Federal Reserve System, Monetary Policy, and Interest Rates | |
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| Securities Markets | |
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| Money Markets | |
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| Bond Markets | |
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| Mortgage Markets | |
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| Stock Markets | |
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| Foreign Exchange Markets | |
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| Derivative Securities Markets | |
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| Commercial Banks | |
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| Commercial Banks | |
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| Commercial Banks? Financial Statements and Analysis | |
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| Regulation of Commercial Banks | |
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| Other Financial Institutions | |
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| Other Lending Institutions: Savings Institutions, Credit Unions, and Finance Companies | |
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| Insurance Companies | |
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| Securities Firms and Investment Banks | |
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| Mutual Funds and Hedge Funds | |
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| Pension Funds | |
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| Risk Management in Financial Institutions | |
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| Types of Risks Incurred by Financial Institutions | |
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| Managing Credit Risk on the Balance Sheet | |
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| Managing Liquidity Risk on the Balance Sheet | |
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| Managing Interest Rate and Insolvency Risk on the Balance Sheet | |
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| Managing Risk off the Balance Sheet with Derivative Securities | |
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| Managing Risk off the Balance Sheet with Loan Sales and Asset Securitization | |
Anthony Saunders is the John M. Schiff Professor of Finance and the Chair of the Department of Finance at the Stern School of Business at New York University. Professor Saunders received his PhD from the London School of Economics and has taught both undergraduate and graduate level courses at NYU since 1978. Throughout his academic career, his teaching and research have specialized in financial institutions and international banking. He has served as a visiting professor all over the world, including INSEAD, the Stockholm School of Economics, and the University of Melbourne. He is currently on the Executive Committee of the Salomon Center for the Study of Financial Institutions, NYU.His research has been published in all the major money and banking and finance journals and in several books. In addition, he has authored or co-authored several professional books, the most recent of which is Credit Risk Measurement: New Approaches to Value at Risk and Other Paradigms, John Wiley and Sons, New York, 1
