Liquidity, Leverage, and Regulation 10 Years after the Global Financial Crisis

Posted: 8 Nov 2018

See all articles by Tobias Adrian

Tobias Adrian

International Monetary Fund

John Kiff

International Monetary Fund

Hyun Song Shin

Bank for International Settlements (BIS)

Date Written: November 2018

Abstract

The financial system has undergone far-reaching changes since the global financial crisis of 2008. We cast those changes in terms of shifts in the manner in which financial intermediaries manage their balance sheets. We also discuss the regulatory reform agenda, and we review the impact of regulations on market liquidity and credit availability. Current evidence suggests that the financial system has become safer, at limited unintended cost.

Suggested Citation

Adrian, Tobias and Kiff, John and Shin, Hyun Song, Liquidity, Leverage, and Regulation 10 Years after the Global Financial Crisis (November 2018). Annual Review of Financial Economics, Vol. 10, pp. 1-24, 2018. Available at SSRN: https://ssrn.com/abstract=3280829 or http://dx.doi.org/10.1146/annurev-financial-110217-023113

Tobias Adrian

International Monetary Fund ( email )

Kuwait

John Kiff

International Monetary Fund ( email )

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

Hyun Song Shin (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

HOME PAGE: http://www.bis.org/author/hyun_song_shin.htm

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