Join our mailing list!
(Your shopping cart is empty)
Diane Publishing Books
Shadow Banking System: Implications for Financial Regulation
Tobias Adrian (au); Hyun Song Shin (au)
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. In a market-based financial system, banking and capital market developments are inseparable: Funding conditions are closely tied to fluctuations in the leverage of market-based financial intermediaries. Growth in the balance sheets of these intermediaries provides a sense of the availability of credit, while contractions of their balance sheets have tended to precede the onset of financial crises. 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 and by the recognition that it is important to prevent excessive leverage and maturity mismatch, both of which can undermine financial stability. Figures.
Creole Flavors: Recipes for Marinades, Rubs, Sauces, & Spices
Competing for Employees: Proven Marketing Strategies for Hiring & Keeping Exceptional People
Where the Domino Fell: America & Vietnam, 1945 to 1990
Office Computing Bible: Using Personal Computers at Work
Rise of Life: The First 3.5 Billion Years
Share your knowledge of this product with other customers...
Be the first to write a review
Diane Publishing Co
PO Box 617
Darby, PA 19023-0617
Become an Affiliate
Send Us Feedback
Copyright ï¿½ 2004 Diane Publishing Company. All Rights Reserved.