This new edition now covers many crucial developments that have occurred in the money market since the first edition was published in 1978. This edition now covers:- the evolution of Fed policy from controlling interest rates to controlling money supply; the consequent historic highs of interest rates in both levels and volatility; the huge increases in money market instruments, including government-outstanding and traded; the impact of new legislation and regulations on banks, both domestic and foreign, thrifts and others; the explosive growth in the financial futures markets; the adjustments made by major market players - banks, dealers and investors - to these marked changes in market environment; the increase volume in traditional brokering and the introduction of brokering to new markets; the future growth and evolution of the Euromarket; the impact of the market on the well publicized failures of financial institutions ranging from Drysdale to the Banco Ambrosiano Holdings. This book is one that should be read and reread - by everyone in the financial, business and investment world.