Outline

Bonds

Overview
Sovereign Debt
Municipal Bonds
Mortgage Backed Securities

  • Agency
  • Securitization
  • Asset-Backed Debt

Corporate Bonds

  • Covenants

Bond Duration

Duration Measures

  • Macaulay Duration
  • Modified Duration
  • Effective Duration

Convexity

Interest Rates

The Federal Reserve

Structure
Policy

  • Time Inconsistency
  • Nominal anchor

Operations
Open Market Operations
Regulation

Institutions

Commercial Banks

Retail Banking

Credit Unions

FDIC

  • Shadow Banking

FinTech Banks

  • Payment and Transfers
  • Consumer Credit
  • Crypto-currency payments and transfers

FinTech Investment Banks

  • Robo-advising
  • Broker execution
  • Payment for Order Flow
  • Crypto-currency ICO

Islamic Finance

Insurance Companies

Bank Balance Sheet

Loan Performance

Gap Analysis

Interest Rate Gap
Duration Gap