75663 - ECONOMICS OF FINANCIAL INTERMEDIATION

Conoscenze e abilità da conseguire

This course gives an overview of financial markets, financial institutions, and financial authorities. Specific topics include: the supply of and demand for loan funds, securities, and bonds. Emphasis is placed upon the economic effects of financial institutions and markets upon various sectors of the economy. We will outline the institutional structure of financial intermediation and the concerns facing the regulators and managers of these institutions.

Contenuti

Part ONE – Introduction

1. Why Are Financial Institutions Special?
2. Financial Services: Depository Institutions
3. Financial Services: Finance Companies
4. Financial Services: Securities Firms and Investment Banks
5. Financial Services: Mutual Funds and Hedge Fund Companies
6. Financial Services: Insurance Companies
7. Risks of Financial Institutions

Part TWO – Measuring Risk

1. Interest Rate Risk I
2. Interest Rate Risk II
3. Credit Risk: Individual Loan Risk
4. Credit Risk: Loan Portfolio and Concentration Risk
5. Liquidity Risk
6. Foreign Exchange Risk
7. Sovereign Risk
8. Market Risk
9. Off-Balance-Sheet Risk
10. Technology and Other Operational Risks

Part THREE – Managing Risk

1. Liability and Liquidity Management
2. Deposit Insurance and Other Liability Guarantees
3. Capital Adequacy
4. Product and Geographic Expansion
5. Futures and Forwards
6. Options, Caps, Floors, and Collars
7. Swaps
8. Loan Sales
9. Securitization

Testi/Bibliografia

Saunders, A. and Cornett, M. (2017) Financial Institutions Management: A Risk Management Approach. 9^th ed., New York: McGraw-Hill Education.

Metodi didattici

Lectures. Presentations. Small-group activities. Assignments. Coaching and mentoring. Case studies. Online discussion boards. Project work. Game-based activities. Q&A sessions.

Modalità di verifica e valutazione dell'apprendimento

Option 1 – 2 tests

• 50% from test #1 in April 2019
  
• 50% from test #2 in June 2019 / July 2019

Option 2 – 1 test

• June 2019
• July 2019
• September 2019

Strumenti a supporto della didattica

Online and offline resources.

Orario di ricevimento

Consulta il sito web di Fabio Rizzi