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A short course of lectures
«Financial System»

Collective investment schemesMonetary policy functionFinancial marketsPrice risk lessened for the ultimate lenderIssuing methods InvestingRetirement fundsLiquidity-sacrifice premiumLearning objectivesGovernment spendsLearning objectivesPrimary and secondary marketsLiquidity and borrowing cost reductionPayments systemEconomic functions of financial intermediariesPrice discovery and informationCentral bankNon-financial lenders and borrowersCredit risk premiumExpected inflationFisher hypothesisPrivate placementFinancial intermediaries: intermediation functionsInstruments of investment vehiclesTrading form: single and dual capacityFinancial intermediariesMoney and its roleTrading systemRole of the central bank in money creationDebt instrumentsEconomic functions of secondary marketsAuctionMonetary banking institutionsWhat is price discovery?Is "money supply" a misnomer?Financial intermediaries: classification and relationshipEnhanced liquidity for lenderDefining the financial systemMonetary banking sectorMoney creation starts with a bank loanComposition of the nominal risk-free rateMarket form: exchange-traded and OTC marketsLearning objectivesFinancial market participants & short sellingFinancial intermediationEconomies of scaleTrading driver: order or quoteQuasi-financial intermediariesDerivative instrumentsFacilitation of flow of fundsPrice discoveryMoney creationThe cash reserve requirementSharesThe money identity and the creation of moneyUniqueness of banksRisk alleviationMeasures of moneyLearning objectivesPrivate sector banksClearing and settlementFinancial instrumentsPublic issueOrganizational structure of financial marketsShare instrumentsAlternative investmentsTap issuePermanent or semi-permanent capital of the issuersPrice discoveryImplementation of monetary policyShare marketLenders & borrowersIssue (primary market)Derivative marketsEfficient allocation of fundsRole of central bank in price discoveryMarket mechanismSharesFinancial instrument typesWhat is money?InsurersHow does a central bank maintain a bank liquidity shortage?Support of primary marketAssistance in price discoveryLearning objectivesDeposit instrumentsImproved diversification for lenderNotes and coins depositedTrading (secondary market)Learning objectivesBond marketMoney marketMarket efficiencyForeign exchange marketMoney creation is not dependent on a cash reserve requirementMoney creation does not start with a bank receiving a depositRole of interest rates in security valuationMarketabilityMoney creationBondsClassification of financial intermediariesComposition of interest rates The mechanics of price discovery
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