文档介绍：II.
III.
IV.
III.
IV.
Treasury Bills
Short-Term Treasury Notes and Bonds Federal Age ncy Securities
Certificates egies
A.
B.
C.
D.
E.
The Ladder or Sp aced-Maturity P olicy
The Fron t-E nd Load Maturity Policy
The Back-E nd Load Maturity Policy
The Barbell Strategy
The Rate Exp ectati ons App roach
Maturity Man ageme nt Tools
The Yield Curve
Durati on
Summary of the Chap ter
Con cept Checks
10-1. inv estme nt securities?
Why do banks and in stituti ons choose to devote a sig nifica nt p orti on of their assets to
Inv estme nts p erform many differe nt roles that act as a n ecessary comp leme nt to the adva ntages loans pro vide. In vestme nts gen erally have less credit risk tha n loa ns, allow the bank or thrift in stituti on to diversify into differe nt localities tha n most of its loa ns p ermit, pro vide additi onal liquid reserves in case more cash is n eeded, p rovide collateral as called for by law and regulati on to back gover nment dep osits, help to stabilize bank in come over the bus in ess cycle, and aid banks in reduc ing their exp osure to taxes.
10-2. What key roles do investments play in the management of a bank or other depository in stituti on?
See an swer to 10-1
10-3. What are the principal money market and capital market instruments available to in stituti ons today? What are their most imp orta nt characteristics?
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精选文库 Banks purchase a wide range of investment securities. The principal money market instruments available to banks today are Treasury bills, federal agency securities, CD's issued by other depository institutions, Eurodollar deposits, bankers' acceptances, commercial paper, and short-term municipal obligations. The common characteristics of most these instruments is their safety and high marketability. Capital market instruments available to banks include Treasury notes an