## Shadow Banking and Market-Based Finance

_Departmental Papers, August 1, 2018_

## Source details

**Canonical URL:** [Shadow Banking and Market-Based Finance](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2018/08/01/shadow-banking-and-market-based-finance-45663)

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## Bibliographic details
- Authors: Tobias Adrian, Bradley Jones
- Published: August 1, 2018
- Series: Departmental Papers
- DOI: https://doi.org/10.5089/9781484343883.087

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### Conceptual framework
- Distinguishes variants of nonbank credit intermediation by:
  - structural features
  - economic motivations
  - risk implications
- Framework used to identify differences across forms of nonbank credit intermediation and to assess associated amplification forces.

### Evolution and stocktaking since the global financial crisis
- Assesses the evolution of shadow banking and the extent of its transformation into market-based finance since the global financial crisis.
- Finds that many amplification forces active during the global financial crisis have diminished, but transformation is ongoing.

### Regulatory and supervisory responses: progress and gaps
- Highlights substantial regulatory and supervisory responses in recent years.
- Identifies key areas of progress while drawing attention to elements where work still needs to be done.
- Emphasizes that the post-crisis reform agenda is not yet complete and requires continued policy attention.

### Case studies and jurisdictional policy challenges
- Discusses case studies of policy challenges arising in different jurisdictions to illustrate practical issues and responses in market-based finance and nonbank credit intermediation.

### Policy implications and recommendations
- Policy makers should remain attentive to new challenges looming on the horizon.
- Continued regulatory and supervisory work is required to address remaining vulnerabilities in nonbank credit intermediation and market-based finance.

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## Content in this bundle

- **45663 Dp1814 Shadow Banking**
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_Source: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2018/08/01/shadow-banking-and-market-based-finance-45663_