Documente Academic
Documente Profesional
Documente Cultură
An Overview
of the Financial
System
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Internationalization of Financial
Markets
Foreign Bonds: sold in a foreign country and
denominated in that countrys currency
Eurobond: bond denominated in a currency other
than that of the country in which it is sold
Eurocurrencies: foreign currencies deposited in
banks outside the home country
Eurodollars: U.S. dollars deposited in foreign banks
outside the U.S. or in foreign branches of U.S. banks
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Function of Financial
Intermediaries: Indirect Finance
Lower transaction costs (time and money
spent in carrying out financial transactions)
Economies of scale
Liquidity services
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