TAILIEUCHUNG - Lecture Financial institutions, instruments and markets: Chapter 11 - Christopher Viney

Chapter 11 - International debt. This chapter examine the use of international debt markets as a source of funding; focus on the role of euromarkets and US capital markets; distinguish between eurocurrency, euronote and eurobond markets; consider US debt markets and securities, explain the role of credit rating agencies. | Chapter 11 International Debt Learning Objectives Examine the use of international debt markets as a source of funding Focus on the role of euromarkets and US capital markets Distinguish between eurocurrency, euronote and eurobond markets Consider US debt markets and securities Explain the role of credit rating agencies Chapter Organisation Introduction The Euromarkets Eurocurrency Market Euronote Market Eurobond Market Markets in the USA Credit Rating Agencies Summary Introduction Who uses international debt markets? Financial institutions are the largest borrowers Also used by governments and corporations Investors are attracted to international debt markets as they Provide a deep and liquid market Allow higher investment returns Are a form of portfolio diversification Introduction (cont.) Deregulation of FX markets have contributed to the importance of international debt markets Chapter Organisation Introduction The Euromarkets Eurocurrency Market Euronote Market Eurobond Market Markets in the USA Credit Rating Agencies Summary The Euromarkets Consist of large unregulated money and capital markets Major centres in London, the Middle East and Asia Euromarket transactions are mainly denominated in a currency other than the currency of the country that issued the debt USD is the dominant currency Chapter Organisation Introduction The Euromarkets Eurocurrency Market Euronote Market Eurobond Market Markets in the USA Credit Rating Agencies Summary Eurocurrency Market The major forms of eurocurrency facility discussed are Short-term bank balances Stand-by arrangements Medium- to longer-term eurocurrency loans Eurocurrency Market (cont.) Short-term bank advances Similar to ‘fully-drawn advances’ Term determined, and full amount drawn-down on approval Commitment fee may be charged if not drawn-down immediately after approval .

• Tài chính doanh nghiệp
• Financial institutions
• Financial Instruments
• Financial markets
• Financial system
• Impact of globalisation
• Functions of the financial system
• Lecture Financial markets and institutions
• Financial institutions markets
• Risks at financial institutions
• Market risk
• Savings institutions
• Credit unions
• Commercial banks
• Financial statements
• Financial markets and institutions
• Interest rates change
• Financial institutions exist
• Central banking
• Capital markets
• Money markets
• Interest rate fundamentals
• Interest rates
• Security valuation
• Federal reserve system
• Monetary policy
• Money market yields
• Bond markets
• Municipal bonds
• Mortgage markets
• Primary mortgage market
• Stock markets
• Common stock
• Foreign exchange markets
• Foreign exchange
• Derivative securities markets
• Futures markets
• Commercial bank liabilities
• Regulation of commercial banks
• Deposit guarantee funds
• Insurance companies
• Life insurance companies
• Securities firms
• Investment banks
• Mutual funds
• Hedge funds
• Pension funds
• Private pension funds
• Managing credit risk
• Balance sheet
• Managing liquidity risk
• Managing interest rate risk
• Insolvency risk
• Managing risk
• Loan sales
• Managing risk off the balance sheet