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| Workshop on Financial Markets,
Instruments, and Institutions |
Federal Reserve Bank of New York
Central Banking Seminar
October 16-17, 2008
We encourage Seminar participants who are not typically involved with global financial markets to enroll in the Bank’s Workshop on Financial Markets, Instruments, and Institutions. The Workshop meets on the Thursday and Friday immediately prior to the Seminar. Economists on our research staff introduce topics to prepare participants for the Seminar, including the group discussions. Since its introduction in 1998, the Workshop has proved beneficial not only to those wishing to strengthen their knowledge of basic finance concepts in preparation for the Seminar, but also to those having some background in financial markets who seek to enhance their command of terminology and institutional structure.
We recommend that Workshop participants prepare ahead of time, to enable them to gain full advantage of the two-day session. In the program outline below, we identify chapters of a standard text that provide background on the Workshop topics.
Financial Markets and Institutions (ME)
Frederic S. Mishkin and Stanley G. Eakins, Fifth Edition, 2006, Addison Wesley, New York.
Participants who are not familiar with U.S. financial markets and institutions may find the following reference book useful:
Dictionary of Finance and Investment Terms
J. Downes and J.E. Goodman, Barron's Educational Series, Seventh Edition 2006.
| Thursday, October 16, 2008 | ||
| 8:30 - 9:15 | Registration Federal Reserve Bank of New York 12th Floor 33 Liberty Street, New York |
|
| 9:15 - 10:15 | 2007-08 Financial Markets Overview, Timeline of Events, Workshop Overview (ME Ch 1-3)
John Kambhu |
|
| 10:15 - 11:15 | Banks (ME Ch 15, 17, 20) Stavros Peristiani |
|
| 11:15 - 11:30 | Break | |
| 11:30 - 12:30 | Non-bank Financial Institutions (ME Ch 23) Tobias Adrian |
|
| 12:30 - 2:00 | Lunch | |
| 2:00 - 3:00 | Corporate Governance of Financial Institutions (ME Ch 16) Hamid Mehran |
|
| 3:00 - 4:00 | U.S. Treasury Securities (ME Ch 10) Tony Rodrigues |
|
| 4:00 - 4:15 | Break | |
| 4:15 - 5:15 | Repo Market (ME Ch 9) Michael Fleming |
|
| 5:15 | Adjourn | |
| Friday, October 17, 2008 | ||
| 9:00 - 9:45 | Tour of Gold Vault | |
| 9:45 - 10:45 | U.S. Mortgage Market (ME Ch 12) James Vickery |
|
| 10:45 - 11:00 | Break | |
| 11:00 - 12:00 | Aligning Incentives in Securitization Adam Ashcraft |
|
| 12:00 - 1:30 | Lunch | |
| 1:30 - 2:30 | The Fed’s Liquidity Facilities (ME Ch 7-8) Jamie McAndrews |
|
| 2:30 - 3:30 | Lenders of Last Resort in the United States Morten Bech |
|
| 3:30 - 3:45 | Break | |
| 3:45 - 4:45 | Central Bank Collateral Policies (ME Ch 24) Joshua Rosenberg |
|
| 4:45 | End of Workshop | |
