Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/120840
Authors: 
Adrian, Tobias
Year of Publication: 
2014
Series/Report no.: 
Staff Report, Federal Reserve Bank of New York 664
Abstract: 
This paper explores financial stability policies for the shadow banking system. I tie policy options to economic mechanisms for shadow banking that have been documented in the literature. I then illustrate the role of shadow bank policies using three examples: agency mortgage real estate investment trusts, leveraged lending, and captive reinsurance affiliates. For each example, the economic mechanisms are explained, the potential risks emanating from the activities are described, and policy options to mitigate such risks are listed. The overarching theme of the analysis is that any policy prescription for the shadow banking system is highly specific to the particular activity.
Subjects: 
shadow bank policies
systemic risk
financial intermediation
JEL: 
E44
G00
G01
G28
Document Type: 
Working Paper

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