Shadow Banking: Economics and Policy

37 Pages Posted: 11 Dec 2012

See all articles by Stijn Claessens

Stijn Claessens

Bank for International Settlements (BIS)

Zoltan Pozsar

International Monetary Fund (IMF)

Lev Ratnovski

International Monetary Fund; European Central Bank, Financial Research Division

Manmohan Singh

International Monetary Fund (IMF)

Date Written: December 4, 2012

Abstract

The paper focuses on two functions of shadow banking: securitization and collateral intermediation. It describes operations of the shadow banking system, demand factors, systemic risks, and associated policy priorities.

Keywords: shadow banking, securitization, collateral, systemic risk

JEL Classification: G21, G23, G24, G28

Suggested Citation

Claessens, Stijn and Pozsar, Zoltan and Ratnovski, Lev and Singh, Manmohan, Shadow Banking: Economics and Policy (December 4, 2012). Available at SSRN: https://ssrn.com/abstract=2187661 or http://dx.doi.org/10.2139/ssrn.2187661

Stijn Claessens

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
CH-4002 Basel
Switzerland

Zoltan Pozsar

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Lev Ratnovski (Contact Author)

International Monetary Fund ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

HOME PAGE: http://ratnovski.googlepages.com

European Central Bank, Financial Research Division

Germany

Manmohan Singh

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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