The Shadow Banking System
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The Growth Of Shadow Banking
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Author : Matthias Thiemann
language : en
Publisher: Cambridge University Press
Release Date : 2018-05-31
The Growth Of Shadow Banking written by Matthias Thiemann and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-31 with Business & Economics categories.
By analyzing the growth and regulation of shadow banking activities by large banks in Western Europe and the US, this book illuminates how the evolution of finance, driven by structural pressures and financial innovations, is crucially mediated through state-finance interactions on the meaning of rules and the need to comply.
Shadow Banking System
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Author : Tobias Adrian
language : en
Publisher: DIANE Publishing
Release Date : 2010-10
Shadow Banking System written by Tobias Adrian and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10 with categories.
The current financial crisis has highlighted the growing importance of the ¿shadow banking system,¿ which grew out of the securitization of assets and the integration of banking with capital market developments. This trend has been most pronounced in the U.S., but it has had a profound influence on the global financial system. Securitization was intended as a way to transfer credit risk to those better able to absorb losses, but instead it increased the fragility of the entire financial system by allowing banks and other intermediaries to ¿leverage up¿by buying one another¿s securities. In the new, post-crisis financial system, the role of securitization will likely be held in check by more stringent financial regulation. Charts and tables.
The Shadow Banking System
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Author : Valerio Lemma
language : en
Publisher: Springer
Release Date : 2016-04-08
The Shadow Banking System written by Valerio Lemma and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-08 with Business & Economics categories.
The book shows the fundaments of the shadow banking system and its entities, operations and risks. Focusing on the regulatory aspects, it provides an original view that is able to demonstrate that the lack of supervision is a market failure.
Shadow Banking
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Author : Roy J. Girasa
language : en
Publisher: Springer
Release Date : 2016-10-02
Shadow Banking written by Roy J. Girasa and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-02 with Business & Economics categories.
This comparative study explores how shadow banking differs from the traditional banking system. It discusses the origins, history, purposes, risks, regulatory constraints, and projected future evolution of both financial sectors of the world economy. This thorough examination of non-bank financial intermediaries follows the migration of services from traditional banks to less-regulated alternative banking products, as well as the evolution of regulations and the Financial Stability Oversight Council to monitor these new entities. Three chapters explore in depth the major financial structures newly designated as systemically important financial institutions (SIFIs), with particular attention to insurance companies such as MetLife, which seek exemption from the designation. Finally, the focus shifts to international financial institutions' efforts to protect consumers and curtail irresponsible shadow banks, with an eye toward the effects of these actions on future banking practices.
Shadow Banking
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Author : Anastasia Nesvetailova
language : en
Publisher: Routledge
Release Date : 2017-08-07
Shadow Banking written by Anastasia Nesvetailova and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-07 with Business & Economics categories.
Shadow banking – a system of credit creation outside traditional banks – lies at the very heart of the global economy. It accounts for over half of global banking assets, and represents a third of the global financial system. Although the term ‘shadow banking’ only entered public discourse in 2007, the importance and scope of this system is now widely recognised by the international policy-makers. There is, however, much less consensus on the origins of the shadow banking system, what role it plays in global political economy and the optimal approach to regulating this complex segment of finance. This volume addresses these questions. Shadow Banking is the first study to bring together the insights from financial regulators, practitioners and academics from across the social sciences. The first part traces the evolution and ongoing confusion about the meaning of ‘shadow banking’. The second section draws major lessons about shadow banking as posed by the financial crisis of 2007–09, providing comparative analyses in the US and Europe, and attempts to establish why shadow banking has emerged and matured to the level of a de facto parallel financial system. Finally, the third part goes beyond current regulatory concerns about shadow banking and explains why it is ‘here to stay’. This volume is of great importance to political economy, banking and international political economy.
The Nonbank Bank Nexus And The Shadow Banking System
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Author : Mr.Zoltan Pozsar
language : en
Publisher: International Monetary Fund
Release Date : 2011-12-01
The Nonbank Bank Nexus And The Shadow Banking System written by Mr.Zoltan Pozsar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-01 with Business & Economics categories.
The present way of thinking about financial intermediation does not fully incorporate the rise of asset managers as a major source of funding for banks through the shadow banking system. Asset managers are dominant sources of demand for non-M2 types of money and serve as source collateral ?mines' for the shadow banking system. Banks receive funding through the re-use of pledged collateral ?mined' from asset managers. Accounting for this, the size of the shadow banking system in the U.S. may be up to $25 trillion at year-end 2007 and $18 trillion at year-end 2010, higher than earlier estimates. In terms of policy, regulators will need to consider the re-use of pledged collateral when defining bank leverage ratios. Also, given asset managers' demand for non-M2 types of money, monitoring the shadow banking system will warrant closer attention well beyond the regulatory perimeter.
Shadow Bank Monitoring
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Author : Tobias Adrian
language : en
Publisher:
Release Date : 2013-11-17
Shadow Bank Monitoring written by Tobias Adrian and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-17 with categories.
This report provides a framework for monitoring the shadow banking system, which consists of a web of specialized financial institutions that conduct credit, maturity, and liquidity transformation without direct, explicit access to public backstops. The lack of such access to sources of government liquidity and credit backstops makes shadow banks inherently fragile. Shadow banking activities are often intertwined with core regulated institutions such as bank holding companies, security brokers and dealers, and insurance companies. These interconnections of shadow banks with other financial institutions create sources of systemic risk for the broader financial system. The authors describe elements of monitoring risks in the shadow banking system, including recent efforts by the Financial Stability Board. Figures and tables. This is a print on demand report.
The Sizable Role Of Rehypothecation In The Shadow Banking System
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Author : James Aitken
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
The Sizable Role Of Rehypothecation In The Shadow Banking System written by James Aitken and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
This paper examines the sizable role of rehypothecation in the shadow banking system. Rehypothecation is the practice that allows collateral posted by, say, a hedge fund to its prime broker to be used again as collateral by that prime broker for its own funding. In the United Kingdom, such use of a customer’s assets by a prime broker can be for an unlimited amount of the customer’s assets while in the United States rehypothecation is capped. Incorporating estimates for rehypothecation (and the associated re-use of collateral) in the recent crisis indicates that the collapse in non-bank funding to banks was sizable. We show that the shadow banking system was at least 50 percent bigger than documented so far. We also provide estimates from the hedge fund industry for the - churning - factor or re-use of collateral. From a policy angle, supervisors of large banks that report on a global consolidated basis may need to enhance their understanding of the off-balance sheet funding that these banks receive via rehypothecation from other jurisdictions.
Mapping The Shadow Banking System Through A Global Flow Of Funds Analysis
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Author : Mr. Luca Errico
language : en
Publisher: International Monetary Fund
Release Date : 2014-01-24
Mapping The Shadow Banking System Through A Global Flow Of Funds Analysis written by Mr. Luca Errico and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-24 with Business & Economics categories.
This paper presents an approach to understanding the shadow banking system in the United States using a new Global Flow of Funds (GFF) conceptual framework developed by the IMF’s Statistics Department (STA). The GFF uses external stock and flow matrices to map claims between sector-location pairs. Our findings highlight the large positions and gross flows of the U.S. banking sector (ODCs) and its interconnectedness with the banking sectors in the Euro area and the United Kingdom. European counterparties are large holders of U.S. other financial corporations (OFCs) debt securities. We explore the relationship between credit to domestic entities and the growth of non-core liabilities. We find that external debt liabilities of the financial sector are procyclical and are closely aligned with domestic credit growth.
Shadow Banking And Market Discipline On Traditional Banks
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Author : Mr.Anil Ari
language : en
Publisher: International Monetary Fund
Release Date : 2017-12-22
Shadow Banking And Market Discipline On Traditional Banks written by Mr.Anil Ari and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-22 with Business & Economics categories.
We present a model in which shadow banking arises endogenously and undermines market discipline on traditional banks. Depositors' ability to re-optimize in response to crises imposes market discipline on traditional banks: these banks optimally commit to a safe portfolio strategy to prevent early withdrawals. With costly commitment, shadow banking emerges as an alternative banking strategy that combines high risk-taking with early liquidation in times of crisis. We bring the model to bear on the 2008 financial crisis in the United States, during which shadow banks experienced a sudden dry-up of funding and liquidated their assets. We derive an equilibrium in which the shadow banking sector expands to a size where its liquidation causes a fire-sale and exposes traditional banks to liquidity risk. Higher deposit rates in compensation for liquidity risk also weaken threats of early withdrawal and traditional banks pursue risky portfolios that may leave them in default. Policy interventions aimed at making traditional banks safer such as liquidity support, bank regulation and deposit insurance fuel further expansion of shadow banking but have a net positive impact on financial stability. Financial stability can also be achieved with a tax on shadow bank profits.