634
INDEX
banking system
historical development, 54–56
pre-Fed actions, 77–78
business organization, forms, 384–388
central bank response, 77–78
coins, 28–32
currencies, counterfeiting, 31–32
economy, small firms (importance), 6
Federal Reserve Note, designs, 31
f
fiat U.S. paper currency, example, 30
f
financial system
graphic view, 11
f
operation, 23–24
full-bodied U.S. coins, examples, 29
f
futures exchanges, 335
t
GAAP, home country accounting standards
(differences), 390
t
industrial senior debt ratings, distribution,
589
t
inflation, 208–210
control, 142
rates, 225
interest rates, 196
levels, historical changes, 193
investment, 170
t
monetary system, flowchart, 26
f
money, development, 28–33
money supply, measures, 35–37
national income, goods sale, 151
nonfinancial corporate savings, 177
t
personal savings (2006/2009/2012/2015),
176
t
representative full-bodied paper currency,
example, 30
f
saving, 170
t
Small Business Administration (SBA), 499,
502
stock market data, usage, 362–363
token (copper-nickel-clad) U.S. coins,
examples, 29
f
unemployment rate, increase, 104
United States dollar (U.S. dollar)
appreciation, 143
equivalence, 136
exchange example, 169
exchange rate developments, 142–143
strength
pessimism, 142
renewal, 143
value, major currencies index (relationship),
143
f
United States Travel Act, 145
Unit volume variability, 585
Universal bank, defined, 52
Universal banking, 51–52, 71–72
Unrealized capital gains, 418
Unsecured loan, defined, 64
Unsecured obligations, 256
Unsystematic risk, 363–364
defined, 363
U.S. economy, importance of small firms in, 6
U.S. Treasury
accounts, balances, 110
bonds, active markets (dealer maintenance),
199–200
cash balances, management, 109
Tombstones
defined, 301
example, 302
f
Too big to fail (TBTF), 112
Total assets turnover, calculation, 429
Total capital ratio, calculation, 70–71
Total debt to total assets, calculation, 432–433
Total outlays, 559
t
Total risk, 586–588
components, 364
Toxic assets, 71, 112
Trade balance, defined, 152
Trade credit
cost, 504–505
defined, 481
establishment, 504
supplier source, 504–505
terms, 504
Trade discounts, defined, 504
Trades, execution accuracy, 323
Transactions motive, defined, 469
Transfer payments, defined, 111
Transmission float, 476
Traveler’s checks, 150
Traveler’s letter of credit, defined, 150
Treasurer, defined, 409
Treasury bill, defined, 34
Treasury bonds, defined, 199
Treasury Inflation Protected Securities
(TIPS), 265
Treasury note/bond, 181
Treaty on European Union (Maastricht
Treaty), 106, 134
Trend analysis (time series analysis), defined,
424
Troubled Asset Relief Program (TARP), 108,
112
Troubled assets, 71, 108
Trustee, defined, 257
Trust indenture, defined, 257
Trust-preferred securities, 70
Trust receipt, defined, 149, 513
Truth in Lending, 94
f
Truth in Lending Act (TILA), 84
U
Underpricing, 301
defined, 308
Undervalued investment opportunities, 220
Underwriters (investment bankers), defined,
299
Underwriting, 300–301
agreement, defined, 300
firm commitment underwriting, flowchart,
301
f
Undistributed profits, 174
Undistributed profits (earnings retained in the
business), defined, 174
Unemployment insurance program, funding,
111
Unethical managers, decisions (problems), 405
Unit banking, defined, 61
United Kingdom, banking in, 72
United States
balance of payments (2011), 151–153
bank, foreign account balance (impact), 137
Sustainable growth rate, 580–581
defined, 580
SWOT.
See
Strengths, Weaknesses,
Opportunities, and Threats
Syndicate, defined, 302
Systematic risk (market risk), 363–364
defined, 364
measure, process, 375
t
T
Tangible assets, 593
Target capital structure, 575
Target dividend payout policy, defined, 271
Target weights, measurement, 574–576
Taxable investors, drawback, 264–265
Tax analyst, career, 16
Tax-free federal obligations, issuance
(termination), 200
Tax motives, defined, 470
Tax policy, defined, 112
Tax rates, 417–418
Tax risk, defined, 350
Tax shields, 588, 593
Technicians (chartists), defined, 357
Technology, working capital management
(relationship), 484–485
Technology stocks, price bubble, 6
Tech-oriented stocks, 185
Terminal cash flows, 559–560
Term structure
defined, 203
theories, 205–206
Term to maturity, lengthening, 282
Third market, defined, 321
Thrift institutions
defined, 48
entry, 56
Tier 1 capital, tier 2 capital (sum), 70
Tier 1 ratio, calculation, 70, 71
Time draft, defined, 145
Time horizons, differences, 538
Time period
financial calculator solution, 231, 238
future value/interest rate, relationship, 224
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