金融专业英语.pptxVIP

Chapter 1Functions of Financial Markets;When an investor purchases the securities issued by ultimate borrowers (those who use the funds to invest in real assets), capital market operations for equities, bonds would fall largely into this category. When an investor chooses to invest in the obligations of financial intermediaries, which in turn lend the funds to those who invest in real assets, they are operations in money market for term deposits and loans, interbank transactions of such nature. The primary distinction between the two channels is that, in the first case, i.e. direct financing,