Shadow Banking: Economics and Policy

37 Pages Posted: 11 Dec 2012

See all articles by Stijn Claessens

Stijn Claessens

Yale School of Management; Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)

Zoltan Pozsar

Shadow Banking Colloquium (INET); Credit Suisse

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 Pozsar, Zoltan and Ratnovski, Lev 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

Yale School of Management ( email )

165 Whitney Ave
New Haven, CT 06511

Centre for Economic Policy Research (CEPR)

London
United Kingdom

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Zoltan Pozsar

Shadow Banking Colloquium (INET) ( email )

300 Park Avenue South, 5th Floor
New York, NY 10010
United States

Credit Suisse ( email )

Eleven Madison Avenue
New York, E14 4QJ
United States

Lev Ratnovski (Contact Author)

European Central Bank, Financial Research Division

Germany

International Monetary Fund ( email )

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

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

Manmohan Singh

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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