Arbeitspapier

Shadow banking: A review of the literature

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.

Sprache
Englisch

Erschienen in
Series: Staff Report ; No. 580

Klassifikation
Wirtschaft
Financial Markets and the Macroeconomy
Financial Economics: General
Financial Crises
Financial Institutions and Services: Government Policy and Regulation
Thema
shadow banking
financial intermediation

Ereignis
Geistige Schöpfung
(wer)
Adrian, Tobias
Ashcraft, Adm B.
Ereignis
Veröffentlichung
(wer)
Federal Reserve Bank of New York
(wo)
New York, NY
(wann)
2012

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Adrian, Tobias
  • Ashcraft, Adm B.
  • Federal Reserve Bank of New York

Entstanden

  • 2012

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