Where the words come from
Banks as financial intermediaries, transaction costs, the payment system, diversification of loans, and hedging in forward markets — Principles of Economics 2e, OpenStax, licensed CC BY 4.0. https://openstax.org/books/principles-economics-2e/pages/27-3-the-role-of-banks and https://openstax.org/books/principles-economics-2e/pages/29-1-how-the-foreign-exchange-market-works. Changes: the Willie Sutton opening and the US savings-and-loans and credit-union discussion dropped; "checking account" to bank account; the hedging passage from 29.1 widened from currencies to commodities; the five card definitions condensed from 27.3, 17.1, 17.2 and 29.1 and from the 2e Key Terms for payment system, stock and hedge; the building society examples and all card examples are ours; British spelling.
How firms raise financial capital through banks, bonds and shares; initial public offerings; why a firm receives nothing when its existing shares change hands; and central banks as lenders of last resort — Principles of Economics 2e, OpenStax, licensed CC BY 4.0. https://openstax.org/books/principles-economics-2e/pages/17-1-how-businesses-raise-financial-capital and https://openstax.org/books/principles-economics-2e/pages/28-3-how-a-central-bank-executes-monetary-policy. Changes: the US firms and the General Motors example dropped; the house analogy condensed; the insurance and building society sentences are ours; the central bank as bank for banks and lender of last resort from the 2e Key Terms for chapter 28, given its UK name.
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