Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/251255 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
CITYPERC Working Paper No. 2020-01
Verlag: 
City, University of London, City Political Economy Research Centre (CITYPERC), London
Zusammenfassung: 
Safe assets and shadow banking are two closely linked phenomena in contemporary finance. The link is loan securitisation: at a time of a global safe asset shortage, it falls on the shadow banking system to help make good that shortage by manufacturing extra quantities of asset backed securities. When these quantities cannot keep up with volume of safe asset demand, the shadow banking system comes under pressure to manufacture the type of complex structured securities that can potentially cause a financial crisis. That potentiality became reality with the great financial crisis of 2007-8. If a further financial crisis of this scale is to be averted, the regulation of the shadow banking system should be informed by an understanding of the contemporary socioeconomic circumstances that continue to cause a global safe asset shortage. This paper attempts to contribute to such an understanding.
Schlagwörter: 
safe asset
shadow banking
global safe asset shortage
securitisation
great financial crisis
Dokumentart: 
Working Paper

Datei(en):
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