The money market myth, reality and practice / Marcia Stigum ; appendix by John Friel.

Abbreviations, xix -- 1. Introduction, 1 -- Part I: Some fundamentals, 7 -- 2. Funds flows, banks, and money creation, 7 -- 3. The instruments in brief, 23 -- 4. Discount and interest-bearing securities, 37 -- Part II: The major players, 59 -- 5. The banks: domestic operations, 59 -- 6. The banks: Euro operations, 99 -- 7. The treasury and the federal agencies, 147 -- 8. The most watched player: The Fed, 179 -- 9. The market makers: Dealers and others, 215 -- 10. The investors: Running a short-term portfolio, 253 -- Part III: The markets, 279 -- 11. The Federal funds market, 279 -- 12. Repos and reverses, 311 -- 13. Government and federal agency securities, 335 -- 14. The Treasury bill futures market, 371 -- 15. Certificates of deposit: Domestic and Euro, 399 -- 16. The Euro time deposit market, 427 -- 17. Arbitrages between the U.S. market and the Euro market, 443 -- 18. Bankers' acceptances, 461 -- 19. Commercial paper, 481 -- 20. Municipal notes, 503 -- 21. Money market funds, an attractive alternative for the small portfolio manager, 523 -- Appendix: Yield calculations for the portfolio manager, 537 -- Glossary: Common money market and bond market terms, 549 -- Index, 567.