The Money and Capital Markets

Abstract

Almost all organisations find themselves either wanting to lend money or to borrow it. This applies to central and local government authorities as much as to commercial organisations and the larger charities Immediate financial needs are, as we have seen, met by the banks, but needs go far beyond what these institutions can meet within the framework of their everyday work. Closely associated with the financial institutions discussed so far are the money markets — that is, the money market as such, and the capital market. These markets consist of a vague web of overlapping relationships between various organisations, institutions and people.