Financial markets facilitate the flow of funds in order to finance investments by corporations, governments, and individuals. Financial institutions are the key players in financial markets because they serve as intermediaries that determine the flow of funds. "Financial Institutions and Markets", Eighth Edition, describes financial markets and the financial institutions that serve those markets. It provides a conceptual framework that can be used to understand why markets exist. Each type of financial market is described, with a focus on the securities that are traded in that market and the participation by financial institutions. Today, many financial institutions offer all types of financial services, such as banking, securities services, mutual fund services, and insurance services. Although financial institutions overlap in the services they offer, the services that can be offered are distinctly different. Therefore, the discussion of financial services in this book is...