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Shadow Banking And Its Role In The Financial Crisis
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Book Synopsis The Growth of Shadow Banking by : Matthias Thiemann
Download or read book The Growth of Shadow Banking written by Matthias Thiemann and published by Cambridge University Press. This book was released on 2018-05-31 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Shadow Banking and Its Role in the Financial Crisis by : Devin A. Jenkins
Download or read book Shadow Banking and Its Role in the Financial Crisis written by Devin A. Jenkins and published by Nova Science Publishers. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shadow banking refers to bank-like financial activities that are conducted outside the traditional commercial banking system, many of which are unregulated or lightly regulated. Many of the activities performed within the shadow banking system take funds from savers and investors and ultimately provide them to borrowers. Within this broad definition are investment banks, finance companies, money market funds, hedge funds, special purpose entities, and other vehicles that aggregate and hold financial assets. These entities are critical players in the markets for securitised products, structured products, commercial paper, asset-backed commercial paper, repurchase agreements, and derivatives. The activities of these firms financed substantial economic activity, albeit indirectly. This book examines the nature and scope of the shadowing banking system and its role in the financial crisis.
Book Synopsis Shadow Banking and Its Role in the Financial Crisis by : Devin A. Jenkins
Download or read book Shadow Banking and Its Role in the Financial Crisis written by Devin A. Jenkins and published by . This book was released on 2012 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shadow banking refers to bank-like financial activities that are conducted outside the traditional commercial banking system, many of which are unregulated or lightly regulated. Many of the activities performed within the shadow banking system take funds from savers and investors and ultimately provide them to borrowers. Within this broad definition are investment banks, finance companies, money market funds, hedge funds, special purpose entities, and other vehicles that aggregate and hold financial assets. These entities are critical players in the markets for securitized products, structured products, commercial paper, asset-backed commercial paper, repurchase agreements, and derivatives. The activities of these firms financed substantial economic activity, albeit indirectly. This book examines the nature and scope of the shadowing banking system and its role in the financial crisis.
Book Synopsis Shadow Banking System by : Tobias Adrian
Download or read book Shadow Banking System written by Tobias Adrian and published by DIANE Publishing. This book was released on 2010-10 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Handbook of Global Shadow Banking, Volume I by : Luc Nijs
Download or read book The Handbook of Global Shadow Banking, Volume I written by Luc Nijs and published by Springer Nature. This book was released on 2020-06-30 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt: This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This volume focuses specifically on shadow banking activities, risk, policy and regulatory issues. It evaluates the nexus between policy design and regulatory output around the world, paying attention to the concept of risk in all its dimensions—the legal, financial, market, economic and monetary perspectives. Particular attention is given to spillover risk, contagion risk and systemic risk and their positioning and relevance in shadow banking activities. Newly introduced and incoming policies are evaluated in detail, as well as how risk is managed, observed and assessed, and how new regulation can potentially create new sources of risk. Volume I concludes with analysis of what will and still needs to happen in the event of another crisis. Proposing innovative suggestions for improvement, including a novel Pigovian tax to tame financial and systemic risks, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.
Book Synopsis Shadow Banking and Market Discipline on Traditional Banks by : Mr.Anil Ari
Download or read book Shadow Banking and Market Discipline on Traditional Banks written by Mr.Anil Ari and published by International Monetary Fund. This book was released on 2017-12-22 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Social Finance written by Neil Shenai and published by Springer. This book was released on 2018-09-19 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do market participants construct stable markets? Why do crises that seem inevitable after-the-fact routinely take market participants by surprise? What forces trigger financial panics, and why does uncertainty lead to market volatility? How do economic elites respond to financial distress, and why are some regulatory interventions more effective than others? Social Finance: Shadow Banking during the Global Financial Crisis answers these questions by presenting a new, economic conventions-based model of financial crises. This model emerges from a theoretical synthesis of several intellectual traditions, including Keynesian epistemology, Hyman Minsky’s asset market theory, economic sociology, and international relations theory. Social Finance uses this new paradigm to explain instability in the global shadow banking system during the global financial crisis. And it presents the results of interviews with some of the world’s leading investors – who saw over $2 trillion in annual order flows and managed over $160 billion in assets – to provide first-hand accounts of markets in crisis. Written in accessible prose, Social Finance will appeal to a broad audience of academics, policymakers, and practitioners interested in understanding the drivers of financial stability in the twenty-first century.
Book Synopsis Shadow Networks by : Francisco Louçã
Download or read book Shadow Networks written by Francisco Louçã and published by Oxford University Press, USA. This book was released on 2018 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many accounts of the financial crisis focus on renegade activity in marginal financial sectors. This book argues that far from this pervading view the shadow finance that initiated the crisis is tightly networked with bank-based finance. It traces these networks to explain how the now decade-long crisis took shape.
Book Synopsis The Shadow Banking System by : Valerio Lemma
Download or read book The Shadow Banking System written by Valerio Lemma and published by Springer. This book was released on 2016-04-08 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Shadow Banking in China by : Andrew Sheng
Download or read book Shadow Banking in China written by Andrew Sheng and published by John Wiley & Sons. This book was released on 2016-05-09 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative guide to the rise of Chinese shadow banking and its systemic implications Shadow Banking in China examines this rapidly growing sector in the Chinese economy, and what it means for your investments. Written by two world-class experts in Chinese banking, including the Chief Advisor to the China Banking Regulatory Commission and former Chairman of the Securities and Futures Commission in Hong Kong, this book is unique in providing true, first-hand perspectives from authorities within the world's largest economy. There is little widely-available information on China's shadow banking developments, and much of it is rife with disparate data, inaccuracies and overblown risks due to definitional and measurement differences. This book clears the confusion by supplying accurate information, on-the-ground context and invaluable national balance sheet analysis you won't find anywhere else. Shadow banking has grown to be a key source of credit in China, and a major component of the economy. This book serves as a primer for analysts and investors seeking real, useful information about the sector to better inform investment decisions. Discover what's driving the growth of shadow banking in China Learn the truth about both real and inflated risks Dig into popular rhetoric and clarify common misconceptions Access valuable data previously not published in English Despite shadow banking's critical influence on the Chinese economy, there have been very few official studies and even fewer books written on the subject. Understanding China's present-day economy and forecasting its future requires an in-depth understanding of shadow banking and its inter-relationship with the banking system and other sectors. Shadow Banking in China provides authoritative reference that will prove valuable to anyone with financial interests in China.
Download or read book Banking Crises written by Garett Jones and published by Springer. This book was released on 2016-01-26 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do banks collapse? Are financial systems more fragile in recent decades? Can policies to fix the banking system do more harm than good? What's the history of banking crises? With dozens of brief, non-technical articles by economists and other researchers, Banking Crises offers answers from diverse scholarly viewpoints.
Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Book Synopsis The Growth of Shadow Banking by : Matthias Thiemann
Download or read book The Growth of Shadow Banking written by Matthias Thiemann and published by Cambridge University Press. This book was released on 2018-05-31 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'shadow banking system' refers to a system of credit-provision occurring outside of the official regulatory perimeter of commercial banks. Facilitated by securitization vehicles, mutual funds, hedge funds, investment banks and mortgage companies, the function and regulation of these shadow banking institutions has come under increasing scrutiny after the subprime crisis of 2007–8. Matthias Thiemann examines how regulators came to tolerate the emergence of links between the banking and shadow banking systems. Through a comparative analysis of the US, France, the Netherlands and Germany, he argues that fractured domestic and global governance systems determining the regulatory approach to these links ultimately aggravated the recent financial crisis. Since 2008, shadow banking has even expanded and the incentives for banks to bend the rules have only increased with increasing regulation. Thiemann's empirical work suggests how state-finance relations could be restructured to keep the banking system under state control and avoid future financial collapses.
Book Synopsis Shadow Banking by : Anastasia Nesvetailova
Download or read book Shadow Banking written by Anastasia Nesvetailova and published by Routledge. This book was released on 2017-08-07 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09 by : Tobias Adrian
Download or read book Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09 written by Tobias Adrian and published by DIANE Publishing. This book was released on 2011 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The financial crisis of 2007-09 highlighted the changing role of financial institutions and 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. In a market-based financial system, banking and capital market developments are inseparable, and funding conditions are tied closely to fluctuations in the leverage of market-based financial intermediaries. This report describes the changing nature of financial intermediation in the market-based financial system, charts the course of the recent financial crisis, and outlines the policy responses that have been implemented by the Fed. Reserve and other central banks. Charts and tables.
Author :Stijn Claessens Publisher :World Scientific Studies in International Economics ISBN 13 :9789814602709 Total Pages :437 pages Book Rating :4.6/5 (27 download)
Book Synopsis Shadow Banking Within and Across National Borders by : Stijn Claessens
Download or read book Shadow Banking Within and Across National Borders written by Stijn Claessens and published by World Scientific Studies in International Economics. This book was released on 2014-12-30 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generally thought to be an under-regulated sector, the shadow banking system has been identified as having a significant role in the recent global financial crisis. In recent years, it has also been growing rapidly in emerging markets. Yet, little is known about its size, scope and operations; nor its benefits and costs to society. Shadow Banking Within and Across National Borders consists of a proceedings of a conference held at the Federal Reserve Bank of Chicago, in November 2013. Edited by Stijn Claessens, Douglas Evanoff, George Kaufman and Luc Laeven, this volume brings together leading industry scholars to examine various aspects of the shadow banking system. The contributors of this volume debate issues which include defining and quantifying shadow banking; the causes of the development of the sector; its role in the recent financial crisis; the implications for financial stability; the social benefits of the sector; the associated challenges for financial supervision and regulation; and alternative policy options to address problems created by the sector.
Book Synopsis The Development of the Chinese Financial System and Reform of Chinese Commercial Banks by : D. Luo
Download or read book The Development of the Chinese Financial System and Reform of Chinese Commercial Banks written by D. Luo and published by Springer. This book was released on 2016-03-08 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese financial sector, despite having been developed at a much later stage compared with other developed nations, has achieved substantial progresses over the past decades. By the end of 2014, a total of 16 commercial banks had been listed on the stock exchanges, exerting strong impact onto the market indices and contributing significantly to the country's sustained economic growth. This book reviews the evolution of the Chinese financial system, examining the effectiveness of reform strategies made by the government over the last ten years. The first chapter offers a comprehensive review of the development of the Chinese banking sector and the state-owned banks (SOBs). The second chapter focuses on the efficiency of the Chinese banking sector. Employing data envelopment analysis (DEA) and stochastic frontier analysis (SFA), the author tests the change of efficiency within the Chinese banking sector over the past decade. It also looks at the strategy adopted by the Chinese government as the final attempt in reforming its troublesome SOBs and the effectiveness of such a reform strategy. The next chapter examines the corporate governance practise of the Chinese commercial banks, and the author follows by investigating the effect of the 2007 US credit crunch on Chinese banks and the country's wider economy. Other chapters survey the influence of foreign entry to the Chinese domestic banking sector, and the development of shadow banking in China. The author concludes by discussing the role of the central bank, namely the People's Bank of China (PBOC), and its role in implementing effective policies to promote economic growth.
