An Introduction to Western Financial Markets by Stephen Valdez

By Stephen Valdez

Provides a advent to the relevant Western monetary markets and associations, fairly these within the united states, Europe and Japan. The ebook contains: advertisement and funding banking, funds and coverage, and strategies and futures. moment variation: "An advent to international monetary Markets".

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OTHER BANKING TERMINOLOGY There are one or two other terms which, perhaps, should also be explained. Clearing Banks This term is appliedto thebankswhichare most involvedin the system for clearing cheques. They will be the largedomesticbanks whoare heavily into retail banking. Banks which offer cheque book facilities and have smaller volumes will arrange for one of the largerclearing banksto handle clearingof their cheques. Usually, each bank will clear its own cheques, that is, cheques drawn by a customer of the branch in favour of another customerof the same bank.

You wander Banking (l) - Background 23 down the high street writing cheques to the valueof $2000. The recipients pay the chequesinto theiraccountsand theamounts are credited to them three dayslaterand debited to you. The bank has created $2000 of expenditure that did not exist one week earlier. Notfromyou,becauseyoudido'thaveany. It came from the bank that allowed you to overdraw to the valueof $2000- the bank has created money. Bank lending = spending and excessive spending may mean unacceptableinflationand imports the nationcan't afford.

Acting as Lender of Last Resort Thisdoes not refer to the role of the bank as a periodic rescuer of banks in trouble. It refers to the factthat the centralbank will help the other banks temporarilywhen Banking (II) - The Role ofth« Central Bank 47 they meet problemswith their liquidity.

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