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The Asset Management Industry, Systemic Risk, and Macroprudential Policy

Journal of Financial Transformation, 2017, vol: 45 pp. 121-128

8 Pages Posted: 17 Apr 2017  

Claude Lopez

Milken Institute

Date Written: April 14, 2017

Abstract

In the aftermath of the 2007-2008 financial crisis, new legislation and regulations have pressured banks and insurance companies to reduce their size, leverage, and riskier lines of business in order to avoid another too-big-to-fail debacle. Nonbank financial intermediaries have naturally taken up some of that slack, and, not surprisingly, regulatory scrutiny has turned toward these intermediaries to evaluate whether they could pose similar risks to financial stability that banks did pre-crisis. This article explores whether there is a demonstrable link between the asset management industry and systemic risk.

Keywords: Asset management; systemic risk; macroprudential

JEL Classification: F42; G10; G23

Suggested Citation

Lopez, Claude, The Asset Management Industry, Systemic Risk, and Macroprudential Policy (April 14, 2017). Journal of Financial Transformation, 2017, vol: 45 pp. 121-128 . Available at SSRN: https://ssrn.com/abstract=2953076

Claude Lopez (Contact Author)

Milken Institute ( email )

1250 Fourth Street
Santa Monica, CA 90401
United States

HOME PAGE: http://claudelopez.com

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