Description

Money markets are often called the "plumbing" of the financial system because they provide the short-term funding that keeps financial institutions and businesses running smoothly. Dive into this essential part of the financial markets to learn about the mechanics of traded products, explore key market conventions, and understand the roles of major participants—discover what makes money markets so critical to global finance.

Learning Objectives

  1. Identify key money market participants and understand their motives within the financial system.
  2. Identify money market products, their mechanics, and the essential role they play in providing short-term funding.
  3. Identify specific instruments like deposits, certificates of deposit (CDs), Treasury bills (T-Bills), and commercial paper (CPs).
  4. Analyze benchmark rates in money markets, including the transition from IBORs to risk-free rates (RFRs) and their impact on product pricing and valuation.