Shadow Banking and Market-Based Finance

August 1, 2018

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Format: Chicago

Tobias Adrian, and Bradley Jones. Shadow Banking and Market-Based Finance, (USA: International Monetary Fund, 2018) accessed September 20, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Variants of nonbank credit intermediation differ greatly. We provide a conceptual framework to help distinguish various characteristics—structural features, economic motivations, and risk implications—associated with different forms of nonbank credit intermediation. Anchored by this framework, we take stock of the evolution of shadow banking and the extent of its transformation into market-based finance since the global financial crisis. In light of the substantial regulatory and supervisory responses of recent years, we highlight key areas of progress while drawing attention to elements where work still needs to be done. Case studies of policy challenges arising in different jurisdictions are also discussed. While many of the amplification forces that were at play during the global financial crisis have diminished, the post-crisis reform agenda is not yet complete, and policy makers must remain attentive to new challenges looming on the horizon.

Subject: Banking, Commercial banks, Credit, Financial institutions, Financial sector policy and analysis, Financial sector stability, Financial services, Loans, Money, Shadow banking

Keywords: Auto-loan ABS, Bank, Commercial banks, Credit, DP, DPPP, Due diligence, Europe, Finance, Finance entity, Finance market, Financial sector stability, Global, Home equity, Loan, Loans, Money market fund, NBCI activity, Private equity, Shadow banking, Shadow banking activity, Shadow banking affiliate, Subprime auto-loan ABS, Subprime mortgage

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No. 2018/013
Stock No:

SBMBFEA
ISBN:

9781484343883
ISSN:

2616-5333

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