Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/93632 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Staff Report No. 580
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
We provide an overview of the rapidly evolving literature on shadow credit intermediation. The shadow banking system consists of a web of specialized financial institutions that conduct credit, maturity, and liquidity transformation without direct, explicit access to public backstops. The lack of such access to sources of government liquidity and credit backstops makes shadow banks inherently fragile. Much of shadow banking activities is intertwined with the operations of core regulated institutions such as bank holding companies and insurance companies, thus creating a source of systemic risk for the financial system at large. We review fundamental reasons for the existence of shadow banking, explain the functioning of shadow banking institutions and activities, discuss why shadow banks need to be regulated, and review the impact of recent reform efforts on shadow banking credit intermediation.
Schlagwörter: 
shadow banking
financial intermediation
JEL: 
E44
G00
G01
G28
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
766.99 kB





Publikationen in EconStor sind urheberrechtlich geschützt.