By Marguerite Berger, Lara Goldmark, Tomas Miller-Sanabria
Microfinance is a capitalist paradox. In a quarter of serious inequality and financial instability, it's been capable of create workable providers for these on the base of the industrial and social pyramid, live to tell the tale and develop in opposed fiscal stipulations, and develop into a ecocnomic and quickly starting to be a part of the regulated monetary region. This ebook deals an within view of Latin American microfinance, as noticeable by means of those that have labored over the a long time to make it develop. the teachings are proper not just for the worldwide microfinance group, yet for the sector of improvement writ huge.
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Extra resources for An Inside View of Latin American Microfinance
The corporate bonds they sell usually pay the buyer/lender coupon interest semi-annually and a principal at maturity. For example, a manufacturing company building a $10m processing plant might ®nance the cost by selling 10,000 bonds at a price of $1,000 per bond, with each bond promising to pay $50 in interest every June 15 and January 15 for the next 10 years and a principal of $1,000 at maturity. In general, corporate bonds are longterm securities (original terms of 10 to 15 years), sometimes secured by speci®c real assets that bondholders can claim in case the corporation fails to meet its contractual obligation (defaults).
1 Over-the-Counter Market: The over-thecounter (OTC) market is an informal exchange for the trading of over 70,000 stocks and many corporate and municipal bonds, investment fund shares, mortgage-backed securities, shares in limited partnerships, and Treasury and federal agency securities. There are no membership or listing requirements for trading on the OTC; any security can be traded. It can be described as a market of brokers and dealers linked to each other by a computer, telephone, and telex communications system.
2. '' 3. Describe the following markets and their features: a. Primary and secondary markets b. Direct and intermediary markets c. Money and capital markets. 4. De®ne the following types of primary market sales and participants: a. Negotiated market and private placement b. Open market sales c. Investment banker d. Best effort e. Underwrite f. Underwriting syndicate. 5. Explain the difference between a broker and a dealer. 6. Describe the organizational structure of the New York Stock Exchange.