The Handbook of Global Shadow Banking, Volume II: The Future of Economic and Regulatory Dynamics
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cham
Springer International Publishing AG
2020
|
| Schlagworte: | |
| Beschreibung: | Description based on publisher supplied metadata and other sources |
| Beschreibung: | 1 Online-Ressource (759 pages) |
| ISBN: | 9783030348175 |
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| 245 | 1 | 0 | |a The Handbook of Global Shadow Banking, Volume II |b The Future of Economic and Regulatory Dynamics |
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| 505 | 8 | |a Intro -- Preface -- Contents -- List of Tables -- List of Boxes -- 1: The Macroeconomic Dimensions of Shadow Banking -- 1.1 Introduction -- 1.2 Shadow Banking Dynamics and Monetary Policy -- 1.3 Liquidity Transformation in the Shadow Banking Sector -- 1.4 Policy Implications of the Macroeconomic Understanding of Shadow Banking Dynamics and Activities -- 1.5 Liquidity and Economic Growth -- 1.6 Liquidity Risk Transmission in (Shadow) Banking -- 1.7 What Predicts Financial (In)stability? -- 1.8 Traditional Banks and Shadow Banks: Connected at the Hip -- 1.9 The Interaction Between (Capital) Regulation and the Role of the Shadow Banking System -- 1.10 The Emergence of Hybrid Intermediaries: The Organizational Dimension of Shadow Banking -- 1.11 The Macro-View on Shadow Banking: The Search for Levered Beta -- 1.12 Fragility and Shadow Banking: Does It Have to Be That Way?180 -- 1.13 Regulatory Arbitrage: Many Ways, Few Solutions (So Far) -- 1.14 Shadow Banking Fragility and Implicit Guarantees in the Banking Sector -- 1.15 Should We Get Rid of the Limited Liability Concept in Shadow Banking? -- 1.16 Financial Fragility and Collateral Crises -- 1.17 The Central Bank and the Private Shadow Banking Market -- 1.17.1 Involvement -- 1.17.2 Should There Be a Lender of Last Resort for the Shadow Banking Market? -- 1.17.3 The Limits of Central Banking Liquidity -- 1.18 (Shadow) Bank Business Models: Fragility and Sustainability -- 1.18.1 Fragility in Shadow Banking -- 1.18.2 Financial Stability Options for Shadow Banking Entities -- 1.19 The Relationship Between the 'Solvency' of the Shadow Banking Sector and the 'Liquidity' of the Financial Markets: The Systemic Risk Angle -- 1.20 The (Re)use of Collateral in the Repo Market -- 1.20.1 Introduction -- 1.20.2 Rehypothecation of Repos | |
| 505 | 8 | |a 1.20.3 The Use of Collateral and the Nature and Depth of the Interconnectedness in the Shadow Banking Market -- 1.20.4 Central Banks and Their Collateral Frameworks385 -- 1.20.5 Haircuts and Collateral Reuse -- 1.20.6 Heterogeneous Collateral Damage -- 1.20.7 Collateral Management and Optimization -- 1.21 Collateral Reuse and the Liquidity Trap -- 1.21.1 Introduction -- 1.21.2 Rehypothecation and Collateral Reuse -- 1.21.3 The Collateral Trap -- 2: Shadow Banking Around the Globe -- 2.1 Introduction -- 2.2 Assessing Risks in the Shadow Banking Industry -- 2.3 The Role of Debt and Information Insensitivity in Our Contemporary Financial System -- 2.4 Debt Markets and the Shadow Banking Industry -- 2.5 Keeping the Boon and Banning the Bane in Shadow Banking -- 2.6 Explaining the Growth of the Shadow Banking Market -- 2.7 How Does the Growth and Dynamics of the Global Shadow Banking Sector Translate in (New) Risks? -- 2.8 Drivers of the Shadow Banking System -- 2.9 The Role of Regulation Going Forward -- 2.10 Analyzing Different and Comparing Shadow Banking Systems -- 2.10.1 Introduction -- 2.10.2 The (Near) Global Marketplace for Shadow Banking131 -- 2.10.3 Which Are the Actors in the Nonbank Financial Intermediary Space?134 -- 2.10.4 Filtering Out Nonbank Financial Activities -- 2.10.5 Interconnectedness Between Banks and Nonbank Financial Entities -- 2.10.6 Private Lending and Private Debt Markets -- 2.11 Comparing the Major Shadow Banking Systems -- 2.11.1 Comparison Between the US and the Chinese Shadow Banking Model -- 2.11.2 Comparing the US and European Shadow Banking Sector -- 2.12 Contemporary Global Developments in the Shadow Banking Market -- 2.12.1 Introduction -- 2.12.2 Overview of Findings -- 2.12.3 Methodology and Detailed Analysis | |
| 505 | 8 | |a 2.12.4 The Continued Issue of the Interconnectedness Between Banks and Nonbank Financial Institutions -- 2.12.5 Macro-View on All Nonbank Financial Intermediation -- 2.13 Global Shadow Banking and Its Relation with (Offshore) Financial Centers -- 2.13.1 Introduction -- 2.13.2 The Regulatory Conundrums When Shadow Banking and Tax Havens Meet -- 2.14 Shadow Banking Emergence in Emerging Economies -- 2.15 Global Shadow Banking in Recent Years (2015-2019)232 -- 2.15.1 The Most Recent Data Tell Us What Exactly -- 2.15.2 Crowdfunding-Based Lending Models Outside the Banking Sector -- 2.15.3 Specific Observations in Niche Segments of the Narrow Shadow Banking Market -- 2.15.3.1 UK Real Estate Funds306 -- 2.15.3.2 Liquidity Issues at Irish Money Market Funds and Government Bond Funds308 -- 2.15.3.3 The Dynamics of Leveraged Finance312 -- 2.15.4 The Nature of Nonbank Credit Innovation Is Continuously Changing -- 3: The EU Shadow Banking Market -- 3.1 Introduction -- 3.2 The Dynamics of the EU Shadow Banking Sector -- 3.3 The Broader Perspective on Shadow Banking -- 3.4 Drivers of Growth of the EU Shadow Banking System -- 3.5 The EU Policy Approach Regarding Shadow Banking -- 3.6 Shadow Banking and the Impact on the Stability of the Financial Sector -- 3.7 The EU's Regulatory Initiatives in the Field of Shadow Banking -- 3.8 Securities Financing Transactions and Re-collateralization -- 3.9 The Interconnectedness Between the Shadow Banking System and the Tradional Banking System -- 3.10 Sizing the European Shadow Banking Market -- 3.10.1 Introduction -- 3.10.2 How Does the European Shadow Banking Market Compare to Those Elsewhere? -- 3.11 Comparion Between the US and European Shadow Banking Segment -- 3.12 The Dynamics of the Shadow Banking Sector and the EU Financial Stability -- 3.13 Central Clearing: Also Systemic Risk in the Making in Europe? | |
| 505 | 8 | |a 3.14 The Capital Markets Union and the Securitization Sector -- 3.14.1 Introduction and Context -- 3.14.2 The Structure and Content of the Securitization Regulation -- 3.14.3 Lower Capital Requirements for Securitization Products -- 3.14.4 Will the CMU Project, and in Particular the Securitization Intiative, Make a Real Difference? -- 3.14.5 EU Capital Markets and the CMU Project -- 3.15 Shadow Banking Is Now a Structural Aspect of the European Financial Infrastructure -- 3.15.1 Introduction -- 3.15.2 Country Specifics in the EU Banking Sector -- 3.15.3 Shadow Banking in Swizerland -- 3.15.4 The Shadow Banking in the Netherlands -- 3.15.4.1 Introduction -- 3.15.4.2 Special Financial Institutions -- 3.15.5 The Shadow Banking System in Switzerland -- 3.16 European Shadow Banking in Recent Times -- 3.16.1 Introduction -- 3.16.2 The Growth of the EU Shadow Banking Sector and Financial Stability Risk -- 3.17 Safe Asset Creation (in the EU) -- 3.17.1 Introduction: Manufacturing Safe Assets -- 3.17.2 Safe Assets as a Distinct Asset Segment -- 3.17.3 Are Safe Assets a Problem -- 3.17.4 The Sovereign Bond-Backed Securities Proposal -- 3.17.5 Alternatives to the SBBS Model -- 3.17.6 Are There Downsides to (Private) Safe Asset Creation? -- 4: Shadow Banking in the Americas -- 4.1 Introduction -- 4.2 Findings Regarding Shadow Banking in the Americas -- 4.3 The Real Shadow Banking Exposure in the Americas -- 4.4 A Closer Look at the Shadow Banking Industry in the Region -- 4.4.1 Introduction -- 4.4.2 Structure of the Americas Financial Systems -- 4.4.3 Other Financial Intermediaries -- 4.4.4 Interconnectivity Between OFIs and the Banking Sector -- 4.4.5 Remaining Blind Spots -- 4.5 The Role of International Financial Centers in the Region -- 4.6 Existing Risks from Credit Intermediation in the Region -- 4.7 The Case of Shadow Banking in the Caribbean | |
| 505 | 8 | |a 4.8 Shadow Banking in Canada: Why Was Canada Not Badly Hit During the Crisis? -- 4.9 Recent Evolution in the Americas -- 4.9.1 Introduction -- 4.9.2 Recent Trends in the Americas (2016-2019) -- 5: Shadow Banking in Asia -- 5.1 Introduction -- 5.2 Key Findings of the Asia-Specific Study -- 5.3 Scoping and Role of OFIs in the Asia Region -- 5.4 A Further Examination of the Demarcation Line Between NBFIs and Shadow Banking -- 5.5 The Intensity and Categorization of Shadow Banking Risks in Asia -- 5.6 Some Asian Shadow Banking Illustrations29 -- 5.7 Drivers of Shadow Banking in South-East Asia (SEA) -- 5.8 The Asian Financial Centers and Their Shadow Banking Markets -- 5.9 Shadow Banking in the Asia Region-Country Specifics -- 5.10 Shadow Banking in China -- 5.10.1 Introduction -- 5.10.2 The Different Components of the Chinese Shadow Banking System -- 5.10.3 The Wealth Management Product Group Market and Outlook -- 5.10.4 Wealth Management Products and Trust Companies in China -- 5.10.5 The Interconnectedness of the Chinese Shadow Banking Segment -- 5.10.6 The Chinese Shadow Banking Market and 'Information Asymmetry' -- 5.10.7 Securitization in China -- 5.10.8 Systemic Risk in the Chinese Shadow Banking System -- 5.10.9 The Political Dimension in the Chinese Shadow Banking Segment -- 5.11 Chinese Shadow Banking in Recent Years (2016-2019) -- 5.11.1 Stimulus, Regulatory Intervention and a Changing Marketplace -- 5.11.2 China's Corporate Debt Problem -- 6: Shadow Banking in (South) Africa -- 6.1 Introduction -- 6.2 The Remaining African Continent -- 6.3 It's Direct Neighbor: The Middle East -- 7: Future Directions -- 7.1 Introduction -- 7.2 The Effect of Bank Capital Requirementon Growth -- 7.3 The Holistic Financial Industryand Its Function -- 7.4 Is More Market-Based Funding the Solution? | |
| 505 | 8 | |a 7.5 What Role Should Finance Have in Societyand What Benefits Should Be Expected? | |
| 650 | 4 | |a Nonbank financial institutions | |
| 776 | 0 | 8 | |i Erscheint auch als |n Druck-Ausgabe |a Nijs, Luc |t The Handbook of Global Shadow Banking, Volume II |d Cham : Springer International Publishing AG,c2020 |z 9783030348168 |
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| contents | Intro -- Preface -- Contents -- List of Tables -- List of Boxes -- 1: The Macroeconomic Dimensions of Shadow Banking -- 1.1 Introduction -- 1.2 Shadow Banking Dynamics and Monetary Policy -- 1.3 Liquidity Transformation in the Shadow Banking Sector -- 1.4 Policy Implications of the Macroeconomic Understanding of Shadow Banking Dynamics and Activities -- 1.5 Liquidity and Economic Growth -- 1.6 Liquidity Risk Transmission in (Shadow) Banking -- 1.7 What Predicts Financial (In)stability? -- 1.8 Traditional Banks and Shadow Banks: Connected at the Hip -- 1.9 The Interaction Between (Capital) Regulation and the Role of the Shadow Banking System -- 1.10 The Emergence of Hybrid Intermediaries: The Organizational Dimension of Shadow Banking -- 1.11 The Macro-View on Shadow Banking: The Search for Levered Beta -- 1.12 Fragility and Shadow Banking: Does It Have to Be That Way?180 -- 1.13 Regulatory Arbitrage: Many Ways, Few Solutions (So Far) -- 1.14 Shadow Banking Fragility and Implicit Guarantees in the Banking Sector -- 1.15 Should We Get Rid of the Limited Liability Concept in Shadow Banking? -- 1.16 Financial Fragility and Collateral Crises -- 1.17 The Central Bank and the Private Shadow Banking Market -- 1.17.1 Involvement -- 1.17.2 Should There Be a Lender of Last Resort for the Shadow Banking Market? -- 1.17.3 The Limits of Central Banking Liquidity -- 1.18 (Shadow) Bank Business Models: Fragility and Sustainability -- 1.18.1 Fragility in Shadow Banking -- 1.18.2 Financial Stability Options for Shadow Banking Entities -- 1.19 The Relationship Between the 'Solvency' of the Shadow Banking Sector and the 'Liquidity' of the Financial Markets: The Systemic Risk Angle -- 1.20 The (Re)use of Collateral in the Repo Market -- 1.20.1 Introduction -- 1.20.2 Rehypothecation of Repos 1.20.3 The Use of Collateral and the Nature and Depth of the Interconnectedness in the Shadow Banking Market -- 1.20.4 Central Banks and Their Collateral Frameworks385 -- 1.20.5 Haircuts and Collateral Reuse -- 1.20.6 Heterogeneous Collateral Damage -- 1.20.7 Collateral Management and Optimization -- 1.21 Collateral Reuse and the Liquidity Trap -- 1.21.1 Introduction -- 1.21.2 Rehypothecation and Collateral Reuse -- 1.21.3 The Collateral Trap -- 2: Shadow Banking Around the Globe -- 2.1 Introduction -- 2.2 Assessing Risks in the Shadow Banking Industry -- 2.3 The Role of Debt and Information Insensitivity in Our Contemporary Financial System -- 2.4 Debt Markets and the Shadow Banking Industry -- 2.5 Keeping the Boon and Banning the Bane in Shadow Banking -- 2.6 Explaining the Growth of the Shadow Banking Market -- 2.7 How Does the Growth and Dynamics of the Global Shadow Banking Sector Translate in (New) Risks? -- 2.8 Drivers of the Shadow Banking System -- 2.9 The Role of Regulation Going Forward -- 2.10 Analyzing Different and Comparing Shadow Banking Systems -- 2.10.1 Introduction -- 2.10.2 The (Near) Global Marketplace for Shadow Banking131 -- 2.10.3 Which Are the Actors in the Nonbank Financial Intermediary Space?134 -- 2.10.4 Filtering Out Nonbank Financial Activities -- 2.10.5 Interconnectedness Between Banks and Nonbank Financial Entities -- 2.10.6 Private Lending and Private Debt Markets -- 2.11 Comparing the Major Shadow Banking Systems -- 2.11.1 Comparison Between the US and the Chinese Shadow Banking Model -- 2.11.2 Comparing the US and European Shadow Banking Sector -- 2.12 Contemporary Global Developments in the Shadow Banking Market -- 2.12.1 Introduction -- 2.12.2 Overview of Findings -- 2.12.3 Methodology and Detailed Analysis 2.12.4 The Continued Issue of the Interconnectedness Between Banks and Nonbank Financial Institutions -- 2.12.5 Macro-View on All Nonbank Financial Intermediation -- 2.13 Global Shadow Banking and Its Relation with (Offshore) Financial Centers -- 2.13.1 Introduction -- 2.13.2 The Regulatory Conundrums When Shadow Banking and Tax Havens Meet -- 2.14 Shadow Banking Emergence in Emerging Economies -- 2.15 Global Shadow Banking in Recent Years (2015-2019)232 -- 2.15.1 The Most Recent Data Tell Us What Exactly -- 2.15.2 Crowdfunding-Based Lending Models Outside the Banking Sector -- 2.15.3 Specific Observations in Niche Segments of the Narrow Shadow Banking Market -- 2.15.3.1 UK Real Estate Funds306 -- 2.15.3.2 Liquidity Issues at Irish Money Market Funds and Government Bond Funds308 -- 2.15.3.3 The Dynamics of Leveraged Finance312 -- 2.15.4 The Nature of Nonbank Credit Innovation Is Continuously Changing -- 3: The EU Shadow Banking Market -- 3.1 Introduction -- 3.2 The Dynamics of the EU Shadow Banking Sector -- 3.3 The Broader Perspective on Shadow Banking -- 3.4 Drivers of Growth of the EU Shadow Banking System -- 3.5 The EU Policy Approach Regarding Shadow Banking -- 3.6 Shadow Banking and the Impact on the Stability of the Financial Sector -- 3.7 The EU's Regulatory Initiatives in the Field of Shadow Banking -- 3.8 Securities Financing Transactions and Re-collateralization -- 3.9 The Interconnectedness Between the Shadow Banking System and the Tradional Banking System -- 3.10 Sizing the European Shadow Banking Market -- 3.10.1 Introduction -- 3.10.2 How Does the European Shadow Banking Market Compare to Those Elsewhere? -- 3.11 Comparion Between the US and European Shadow Banking Segment -- 3.12 The Dynamics of the Shadow Banking Sector and the EU Financial Stability -- 3.13 Central Clearing: Also Systemic Risk in the Making in Europe? 3.14 The Capital Markets Union and the Securitization Sector -- 3.14.1 Introduction and Context -- 3.14.2 The Structure and Content of the Securitization Regulation -- 3.14.3 Lower Capital Requirements for Securitization Products -- 3.14.4 Will the CMU Project, and in Particular the Securitization Intiative, Make a Real Difference? -- 3.14.5 EU Capital Markets and the CMU Project -- 3.15 Shadow Banking Is Now a Structural Aspect of the European Financial Infrastructure -- 3.15.1 Introduction -- 3.15.2 Country Specifics in the EU Banking Sector -- 3.15.3 Shadow Banking in Swizerland -- 3.15.4 The Shadow Banking in the Netherlands -- 3.15.4.1 Introduction -- 3.15.4.2 Special Financial Institutions -- 3.15.5 The Shadow Banking System in Switzerland -- 3.16 European Shadow Banking in Recent Times -- 3.16.1 Introduction -- 3.16.2 The Growth of the EU Shadow Banking Sector and Financial Stability Risk -- 3.17 Safe Asset Creation (in the EU) -- 3.17.1 Introduction: Manufacturing Safe Assets -- 3.17.2 Safe Assets as a Distinct Asset Segment -- 3.17.3 Are Safe Assets a Problem -- 3.17.4 The Sovereign Bond-Backed Securities Proposal -- 3.17.5 Alternatives to the SBBS Model -- 3.17.6 Are There Downsides to (Private) Safe Asset Creation? -- 4: Shadow Banking in the Americas -- 4.1 Introduction -- 4.2 Findings Regarding Shadow Banking in the Americas -- 4.3 The Real Shadow Banking Exposure in the Americas -- 4.4 A Closer Look at the Shadow Banking Industry in the Region -- 4.4.1 Introduction -- 4.4.2 Structure of the Americas Financial Systems -- 4.4.3 Other Financial Intermediaries -- 4.4.4 Interconnectivity Between OFIs and the Banking Sector -- 4.4.5 Remaining Blind Spots -- 4.5 The Role of International Financial Centers in the Region -- 4.6 Existing Risks from Credit Intermediation in the Region -- 4.7 The Case of Shadow Banking in the Caribbean 4.8 Shadow Banking in Canada: Why Was Canada Not Badly Hit During the Crisis? -- 4.9 Recent Evolution in the Americas -- 4.9.1 Introduction -- 4.9.2 Recent Trends in the Americas (2016-2019) -- 5: Shadow Banking in Asia -- 5.1 Introduction -- 5.2 Key Findings of the Asia-Specific Study -- 5.3 Scoping and Role of OFIs in the Asia Region -- 5.4 A Further Examination of the Demarcation Line Between NBFIs and Shadow Banking -- 5.5 The Intensity and Categorization of Shadow Banking Risks in Asia -- 5.6 Some Asian Shadow Banking Illustrations29 -- 5.7 Drivers of Shadow Banking in South-East Asia (SEA) -- 5.8 The Asian Financial Centers and Their Shadow Banking Markets -- 5.9 Shadow Banking in the Asia Region-Country Specifics -- 5.10 Shadow Banking in China -- 5.10.1 Introduction -- 5.10.2 The Different Components of the Chinese Shadow Banking System -- 5.10.3 The Wealth Management Product Group Market and Outlook -- 5.10.4 Wealth Management Products and Trust Companies in China -- 5.10.5 The Interconnectedness of the Chinese Shadow Banking Segment -- 5.10.6 The Chinese Shadow Banking Market and 'Information Asymmetry' -- 5.10.7 Securitization in China -- 5.10.8 Systemic Risk in the Chinese Shadow Banking System -- 5.10.9 The Political Dimension in the Chinese Shadow Banking Segment -- 5.11 Chinese Shadow Banking in Recent Years (2016-2019) -- 5.11.1 Stimulus, Regulatory Intervention and a Changing Marketplace -- 5.11.2 China's Corporate Debt Problem -- 6: Shadow Banking in (South) Africa -- 6.1 Introduction -- 6.2 The Remaining African Continent -- 6.3 It's Direct Neighbor: The Middle East -- 7: Future Directions -- 7.1 Introduction -- 7.2 The Effect of Bank Capital Requirementon Growth -- 7.3 The Holistic Financial Industryand Its Function -- 7.4 Is More Market-Based Funding the Solution? 7.5 What Role Should Finance Have in Societyand What Benefits Should Be Expected? |
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| dewey-full | 332.1 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.1 |
| dewey-search | 332.1 |
| dewey-sort | 3332.1 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>10761nmm a2200421zc 4500</leader><controlfield tag="001">BV048222920</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220516s2020 |||| o||u| ||||||eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9783030348175</subfield><subfield code="9">978-3-030-34817-5</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-30-PQE)EBC6245717</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-30-PAD)EBC6245717</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-89-EBL)EBL6245717</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1163942055</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV048222920</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332.1</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Nijs, Luc</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The Handbook of Global Shadow Banking, Volume II</subfield><subfield code="b">The Future of Economic and Regulatory Dynamics</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cham</subfield><subfield code="b">Springer International Publishing AG</subfield><subfield code="c">2020</subfield></datafield><datafield tag="264" ind1=" " ind2="4"><subfield code="c">©2020</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (759 pages)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Description based on publisher supplied metadata and other sources</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">Intro -- Preface -- Contents -- List of Tables -- List of Boxes -- 1: The Macroeconomic Dimensions of Shadow Banking -- 1.1 Introduction -- 1.2 Shadow Banking Dynamics and Monetary Policy -- 1.3 Liquidity Transformation in the Shadow Banking Sector -- 1.4 Policy Implications of the Macroeconomic Understanding of Shadow Banking Dynamics and Activities -- 1.5 Liquidity and Economic Growth -- 1.6 Liquidity Risk Transmission in (Shadow) Banking -- 1.7 What Predicts Financial (In)stability? -- 1.8 Traditional Banks and Shadow Banks: Connected at the Hip -- 1.9 The Interaction Between (Capital) Regulation and the Role of the Shadow Banking System -- 1.10 The Emergence of Hybrid Intermediaries: The Organizational Dimension of Shadow Banking -- 1.11 The Macro-View on Shadow Banking: The Search for Levered Beta -- 1.12 Fragility and Shadow Banking: Does It Have to Be That Way?180 -- 1.13 Regulatory Arbitrage: Many Ways, Few Solutions (So Far) -- 1.14 Shadow Banking Fragility and Implicit Guarantees in the Banking Sector -- 1.15 Should We Get Rid of the Limited Liability Concept in Shadow Banking? -- 1.16 Financial Fragility and Collateral Crises -- 1.17 The Central Bank and the Private Shadow Banking Market -- 1.17.1 Involvement -- 1.17.2 Should There Be a Lender of Last Resort for the Shadow Banking Market? -- 1.17.3 The Limits of Central Banking Liquidity -- 1.18 (Shadow) Bank Business Models: Fragility and Sustainability -- 1.18.1 Fragility in Shadow Banking -- 1.18.2 Financial Stability Options for Shadow Banking Entities -- 1.19 The Relationship Between the 'Solvency' of the Shadow Banking Sector and the 'Liquidity' of the Financial Markets: The Systemic Risk Angle -- 1.20 The (Re)use of Collateral in the Repo Market -- 1.20.1 Introduction -- 1.20.2 Rehypothecation of Repos</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">1.20.3 The Use of Collateral and the Nature and Depth of the Interconnectedness in the Shadow Banking Market -- 1.20.4 Central Banks and Their Collateral Frameworks385 -- 1.20.5 Haircuts and Collateral Reuse -- 1.20.6 Heterogeneous Collateral Damage -- 1.20.7 Collateral Management and Optimization -- 1.21 Collateral Reuse and the Liquidity Trap -- 1.21.1 Introduction -- 1.21.2 Rehypothecation and Collateral Reuse -- 1.21.3 The Collateral Trap -- 2: Shadow Banking Around the Globe -- 2.1 Introduction -- 2.2 Assessing Risks in the Shadow Banking Industry -- 2.3 The Role of Debt and Information Insensitivity in Our Contemporary Financial System -- 2.4 Debt Markets and the Shadow Banking Industry -- 2.5 Keeping the Boon and Banning the Bane in Shadow Banking -- 2.6 Explaining the Growth of the Shadow Banking Market -- 2.7 How Does the Growth and Dynamics of the Global Shadow Banking Sector Translate in (New) Risks? -- 2.8 Drivers of the Shadow Banking System -- 2.9 The Role of Regulation Going Forward -- 2.10 Analyzing Different and Comparing Shadow Banking Systems -- 2.10.1 Introduction -- 2.10.2 The (Near) Global Marketplace for Shadow Banking131 -- 2.10.3 Which Are the Actors in the Nonbank Financial Intermediary Space?134 -- 2.10.4 Filtering Out Nonbank Financial Activities -- 2.10.5 Interconnectedness Between Banks and Nonbank Financial Entities -- 2.10.6 Private Lending and Private Debt Markets -- 2.11 Comparing the Major Shadow Banking Systems -- 2.11.1 Comparison Between the US and the Chinese Shadow Banking Model -- 2.11.2 Comparing the US and European Shadow Banking Sector -- 2.12 Contemporary Global Developments in the Shadow Banking Market -- 2.12.1 Introduction -- 2.12.2 Overview of Findings -- 2.12.3 Methodology and Detailed Analysis</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">2.12.4 The Continued Issue of the Interconnectedness Between Banks and Nonbank Financial Institutions -- 2.12.5 Macro-View on All Nonbank Financial Intermediation -- 2.13 Global Shadow Banking and Its Relation with (Offshore) Financial Centers -- 2.13.1 Introduction -- 2.13.2 The Regulatory Conundrums When Shadow Banking and Tax Havens Meet -- 2.14 Shadow Banking Emergence in Emerging Economies -- 2.15 Global Shadow Banking in Recent Years (2015-2019)232 -- 2.15.1 The Most Recent Data Tell Us What Exactly -- 2.15.2 Crowdfunding-Based Lending Models Outside the Banking Sector -- 2.15.3 Specific Observations in Niche Segments of the Narrow Shadow Banking Market -- 2.15.3.1 UK Real Estate Funds306 -- 2.15.3.2 Liquidity Issues at Irish Money Market Funds and Government Bond Funds308 -- 2.15.3.3 The Dynamics of Leveraged Finance312 -- 2.15.4 The Nature of Nonbank Credit Innovation Is Continuously Changing -- 3: The EU Shadow Banking Market -- 3.1 Introduction -- 3.2 The Dynamics of the EU Shadow Banking Sector -- 3.3 The Broader Perspective on Shadow Banking -- 3.4 Drivers of Growth of the EU Shadow Banking System -- 3.5 The EU Policy Approach Regarding Shadow Banking -- 3.6 Shadow Banking and the Impact on the Stability of the Financial Sector -- 3.7 The EU's Regulatory Initiatives in the Field of Shadow Banking -- 3.8 Securities Financing Transactions and Re-collateralization -- 3.9 The Interconnectedness Between the Shadow Banking System and the Tradional Banking System -- 3.10 Sizing the European Shadow Banking Market -- 3.10.1 Introduction -- 3.10.2 How Does the European Shadow Banking Market Compare to Those Elsewhere? -- 3.11 Comparion Between the US and European Shadow Banking Segment -- 3.12 The Dynamics of the Shadow Banking Sector and the EU Financial Stability -- 3.13 Central Clearing: Also Systemic Risk in the Making in Europe?</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">3.14 The Capital Markets Union and the Securitization Sector -- 3.14.1 Introduction and Context -- 3.14.2 The Structure and Content of the Securitization Regulation -- 3.14.3 Lower Capital Requirements for Securitization Products -- 3.14.4 Will the CMU Project, and in Particular the Securitization Intiative, Make a Real Difference? -- 3.14.5 EU Capital Markets and the CMU Project -- 3.15 Shadow Banking Is Now a Structural Aspect of the European Financial Infrastructure -- 3.15.1 Introduction -- 3.15.2 Country Specifics in the EU Banking Sector -- 3.15.3 Shadow Banking in Swizerland -- 3.15.4 The Shadow Banking in the Netherlands -- 3.15.4.1 Introduction -- 3.15.4.2 Special Financial Institutions -- 3.15.5 The Shadow Banking System in Switzerland -- 3.16 European Shadow Banking in Recent Times -- 3.16.1 Introduction -- 3.16.2 The Growth of the EU Shadow Banking Sector and Financial Stability Risk -- 3.17 Safe Asset Creation (in the EU) -- 3.17.1 Introduction: Manufacturing Safe Assets -- 3.17.2 Safe Assets as a Distinct Asset Segment -- 3.17.3 Are Safe Assets a Problem -- 3.17.4 The Sovereign Bond-Backed Securities Proposal -- 3.17.5 Alternatives to the SBBS Model -- 3.17.6 Are There Downsides to (Private) Safe Asset Creation? -- 4: Shadow Banking in the Americas -- 4.1 Introduction -- 4.2 Findings Regarding Shadow Banking in the Americas -- 4.3 The Real Shadow Banking Exposure in the Americas -- 4.4 A Closer Look at the Shadow Banking Industry in the Region -- 4.4.1 Introduction -- 4.4.2 Structure of the Americas Financial Systems -- 4.4.3 Other Financial Intermediaries -- 4.4.4 Interconnectivity Between OFIs and the Banking Sector -- 4.4.5 Remaining Blind Spots -- 4.5 The Role of International Financial Centers in the Region -- 4.6 Existing Risks from Credit Intermediation in the Region -- 4.7 The Case of Shadow Banking in the Caribbean</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">4.8 Shadow Banking in Canada: Why Was Canada Not Badly Hit During the Crisis? -- 4.9 Recent Evolution in the Americas -- 4.9.1 Introduction -- 4.9.2 Recent Trends in the Americas (2016-2019) -- 5: Shadow Banking in Asia -- 5.1 Introduction -- 5.2 Key Findings of the Asia-Specific Study -- 5.3 Scoping and Role of OFIs in the Asia Region -- 5.4 A Further Examination of the Demarcation Line Between NBFIs and Shadow Banking -- 5.5 The Intensity and Categorization of Shadow Banking Risks in Asia -- 5.6 Some Asian Shadow Banking Illustrations29 -- 5.7 Drivers of Shadow Banking in South-East Asia (SEA) -- 5.8 The Asian Financial Centers and Their Shadow Banking Markets -- 5.9 Shadow Banking in the Asia Region-Country Specifics -- 5.10 Shadow Banking in China -- 5.10.1 Introduction -- 5.10.2 The Different Components of the Chinese Shadow Banking System -- 5.10.3 The Wealth Management Product Group Market and Outlook -- 5.10.4 Wealth Management Products and Trust Companies in China -- 5.10.5 The Interconnectedness of the Chinese Shadow Banking Segment -- 5.10.6 The Chinese Shadow Banking Market and 'Information Asymmetry' -- 5.10.7 Securitization in China -- 5.10.8 Systemic Risk in the Chinese Shadow Banking System -- 5.10.9 The Political Dimension in the Chinese Shadow Banking Segment -- 5.11 Chinese Shadow Banking in Recent Years (2016-2019) -- 5.11.1 Stimulus, Regulatory Intervention and a Changing Marketplace -- 5.11.2 China's Corporate Debt Problem -- 6: Shadow Banking in (South) Africa -- 6.1 Introduction -- 6.2 The Remaining African Continent -- 6.3 It's Direct Neighbor: The Middle East -- 7: Future Directions -- 7.1 Introduction -- 7.2 The Effect of Bank Capital Requirementon Growth -- 7.3 The Holistic Financial Industryand Its Function -- 7.4 Is More Market-Based Funding the Solution?</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">7.5 What Role Should Finance Have in Societyand What Benefits Should Be Expected?</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Nonbank financial institutions</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe</subfield><subfield code="a">Nijs, Luc</subfield><subfield code="t">The Handbook of Global Shadow Banking, Volume II</subfield><subfield code="d">Cham : Springer International Publishing AG,c2020</subfield><subfield code="z">9783030348168</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-30-PQE</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033603653</subfield></datafield></record></collection> |
| id | DE-604.BV048222920 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:50:37Z |
| indexdate | 2024-07-10T09:32:27Z |
| institution | BVB |
| isbn | 9783030348175 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033603653 |
| oclc_num | 1163942055 |
| open_access_boolean | |
| physical | 1 Online-Ressource (759 pages) |
| psigel | ZDB-30-PQE |
| publishDate | 2020 |
| publishDateSearch | 2020 |
| publishDateSort | 2020 |
| publisher | Springer International Publishing AG |
| record_format | marc |
| spelling | Nijs, Luc Verfasser aut The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics Cham Springer International Publishing AG 2020 ©2020 1 Online-Ressource (759 pages) txt rdacontent c rdamedia cr rdacarrier Description based on publisher supplied metadata and other sources Intro -- Preface -- Contents -- List of Tables -- List of Boxes -- 1: The Macroeconomic Dimensions of Shadow Banking -- 1.1 Introduction -- 1.2 Shadow Banking Dynamics and Monetary Policy -- 1.3 Liquidity Transformation in the Shadow Banking Sector -- 1.4 Policy Implications of the Macroeconomic Understanding of Shadow Banking Dynamics and Activities -- 1.5 Liquidity and Economic Growth -- 1.6 Liquidity Risk Transmission in (Shadow) Banking -- 1.7 What Predicts Financial (In)stability? -- 1.8 Traditional Banks and Shadow Banks: Connected at the Hip -- 1.9 The Interaction Between (Capital) Regulation and the Role of the Shadow Banking System -- 1.10 The Emergence of Hybrid Intermediaries: The Organizational Dimension of Shadow Banking -- 1.11 The Macro-View on Shadow Banking: The Search for Levered Beta -- 1.12 Fragility and Shadow Banking: Does It Have to Be That Way?180 -- 1.13 Regulatory Arbitrage: Many Ways, Few Solutions (So Far) -- 1.14 Shadow Banking Fragility and Implicit Guarantees in the Banking Sector -- 1.15 Should We Get Rid of the Limited Liability Concept in Shadow Banking? -- 1.16 Financial Fragility and Collateral Crises -- 1.17 The Central Bank and the Private Shadow Banking Market -- 1.17.1 Involvement -- 1.17.2 Should There Be a Lender of Last Resort for the Shadow Banking Market? -- 1.17.3 The Limits of Central Banking Liquidity -- 1.18 (Shadow) Bank Business Models: Fragility and Sustainability -- 1.18.1 Fragility in Shadow Banking -- 1.18.2 Financial Stability Options for Shadow Banking Entities -- 1.19 The Relationship Between the 'Solvency' of the Shadow Banking Sector and the 'Liquidity' of the Financial Markets: The Systemic Risk Angle -- 1.20 The (Re)use of Collateral in the Repo Market -- 1.20.1 Introduction -- 1.20.2 Rehypothecation of Repos 1.20.3 The Use of Collateral and the Nature and Depth of the Interconnectedness in the Shadow Banking Market -- 1.20.4 Central Banks and Their Collateral Frameworks385 -- 1.20.5 Haircuts and Collateral Reuse -- 1.20.6 Heterogeneous Collateral Damage -- 1.20.7 Collateral Management and Optimization -- 1.21 Collateral Reuse and the Liquidity Trap -- 1.21.1 Introduction -- 1.21.2 Rehypothecation and Collateral Reuse -- 1.21.3 The Collateral Trap -- 2: Shadow Banking Around the Globe -- 2.1 Introduction -- 2.2 Assessing Risks in the Shadow Banking Industry -- 2.3 The Role of Debt and Information Insensitivity in Our Contemporary Financial System -- 2.4 Debt Markets and the Shadow Banking Industry -- 2.5 Keeping the Boon and Banning the Bane in Shadow Banking -- 2.6 Explaining the Growth of the Shadow Banking Market -- 2.7 How Does the Growth and Dynamics of the Global Shadow Banking Sector Translate in (New) Risks? -- 2.8 Drivers of the Shadow Banking System -- 2.9 The Role of Regulation Going Forward -- 2.10 Analyzing Different and Comparing Shadow Banking Systems -- 2.10.1 Introduction -- 2.10.2 The (Near) Global Marketplace for Shadow Banking131 -- 2.10.3 Which Are the Actors in the Nonbank Financial Intermediary Space?134 -- 2.10.4 Filtering Out Nonbank Financial Activities -- 2.10.5 Interconnectedness Between Banks and Nonbank Financial Entities -- 2.10.6 Private Lending and Private Debt Markets -- 2.11 Comparing the Major Shadow Banking Systems -- 2.11.1 Comparison Between the US and the Chinese Shadow Banking Model -- 2.11.2 Comparing the US and European Shadow Banking Sector -- 2.12 Contemporary Global Developments in the Shadow Banking Market -- 2.12.1 Introduction -- 2.12.2 Overview of Findings -- 2.12.3 Methodology and Detailed Analysis 2.12.4 The Continued Issue of the Interconnectedness Between Banks and Nonbank Financial Institutions -- 2.12.5 Macro-View on All Nonbank Financial Intermediation -- 2.13 Global Shadow Banking and Its Relation with (Offshore) Financial Centers -- 2.13.1 Introduction -- 2.13.2 The Regulatory Conundrums When Shadow Banking and Tax Havens Meet -- 2.14 Shadow Banking Emergence in Emerging Economies -- 2.15 Global Shadow Banking in Recent Years (2015-2019)232 -- 2.15.1 The Most Recent Data Tell Us What Exactly -- 2.15.2 Crowdfunding-Based Lending Models Outside the Banking Sector -- 2.15.3 Specific Observations in Niche Segments of the Narrow Shadow Banking Market -- 2.15.3.1 UK Real Estate Funds306 -- 2.15.3.2 Liquidity Issues at Irish Money Market Funds and Government Bond Funds308 -- 2.15.3.3 The Dynamics of Leveraged Finance312 -- 2.15.4 The Nature of Nonbank Credit Innovation Is Continuously Changing -- 3: The EU Shadow Banking Market -- 3.1 Introduction -- 3.2 The Dynamics of the EU Shadow Banking Sector -- 3.3 The Broader Perspective on Shadow Banking -- 3.4 Drivers of Growth of the EU Shadow Banking System -- 3.5 The EU Policy Approach Regarding Shadow Banking -- 3.6 Shadow Banking and the Impact on the Stability of the Financial Sector -- 3.7 The EU's Regulatory Initiatives in the Field of Shadow Banking -- 3.8 Securities Financing Transactions and Re-collateralization -- 3.9 The Interconnectedness Between the Shadow Banking System and the Tradional Banking System -- 3.10 Sizing the European Shadow Banking Market -- 3.10.1 Introduction -- 3.10.2 How Does the European Shadow Banking Market Compare to Those Elsewhere? -- 3.11 Comparion Between the US and European Shadow Banking Segment -- 3.12 The Dynamics of the Shadow Banking Sector and the EU Financial Stability -- 3.13 Central Clearing: Also Systemic Risk in the Making in Europe? 3.14 The Capital Markets Union and the Securitization Sector -- 3.14.1 Introduction and Context -- 3.14.2 The Structure and Content of the Securitization Regulation -- 3.14.3 Lower Capital Requirements for Securitization Products -- 3.14.4 Will the CMU Project, and in Particular the Securitization Intiative, Make a Real Difference? -- 3.14.5 EU Capital Markets and the CMU Project -- 3.15 Shadow Banking Is Now a Structural Aspect of the European Financial Infrastructure -- 3.15.1 Introduction -- 3.15.2 Country Specifics in the EU Banking Sector -- 3.15.3 Shadow Banking in Swizerland -- 3.15.4 The Shadow Banking in the Netherlands -- 3.15.4.1 Introduction -- 3.15.4.2 Special Financial Institutions -- 3.15.5 The Shadow Banking System in Switzerland -- 3.16 European Shadow Banking in Recent Times -- 3.16.1 Introduction -- 3.16.2 The Growth of the EU Shadow Banking Sector and Financial Stability Risk -- 3.17 Safe Asset Creation (in the EU) -- 3.17.1 Introduction: Manufacturing Safe Assets -- 3.17.2 Safe Assets as a Distinct Asset Segment -- 3.17.3 Are Safe Assets a Problem -- 3.17.4 The Sovereign Bond-Backed Securities Proposal -- 3.17.5 Alternatives to the SBBS Model -- 3.17.6 Are There Downsides to (Private) Safe Asset Creation? -- 4: Shadow Banking in the Americas -- 4.1 Introduction -- 4.2 Findings Regarding Shadow Banking in the Americas -- 4.3 The Real Shadow Banking Exposure in the Americas -- 4.4 A Closer Look at the Shadow Banking Industry in the Region -- 4.4.1 Introduction -- 4.4.2 Structure of the Americas Financial Systems -- 4.4.3 Other Financial Intermediaries -- 4.4.4 Interconnectivity Between OFIs and the Banking Sector -- 4.4.5 Remaining Blind Spots -- 4.5 The Role of International Financial Centers in the Region -- 4.6 Existing Risks from Credit Intermediation in the Region -- 4.7 The Case of Shadow Banking in the Caribbean 4.8 Shadow Banking in Canada: Why Was Canada Not Badly Hit During the Crisis? -- 4.9 Recent Evolution in the Americas -- 4.9.1 Introduction -- 4.9.2 Recent Trends in the Americas (2016-2019) -- 5: Shadow Banking in Asia -- 5.1 Introduction -- 5.2 Key Findings of the Asia-Specific Study -- 5.3 Scoping and Role of OFIs in the Asia Region -- 5.4 A Further Examination of the Demarcation Line Between NBFIs and Shadow Banking -- 5.5 The Intensity and Categorization of Shadow Banking Risks in Asia -- 5.6 Some Asian Shadow Banking Illustrations29 -- 5.7 Drivers of Shadow Banking in South-East Asia (SEA) -- 5.8 The Asian Financial Centers and Their Shadow Banking Markets -- 5.9 Shadow Banking in the Asia Region-Country Specifics -- 5.10 Shadow Banking in China -- 5.10.1 Introduction -- 5.10.2 The Different Components of the Chinese Shadow Banking System -- 5.10.3 The Wealth Management Product Group Market and Outlook -- 5.10.4 Wealth Management Products and Trust Companies in China -- 5.10.5 The Interconnectedness of the Chinese Shadow Banking Segment -- 5.10.6 The Chinese Shadow Banking Market and 'Information Asymmetry' -- 5.10.7 Securitization in China -- 5.10.8 Systemic Risk in the Chinese Shadow Banking System -- 5.10.9 The Political Dimension in the Chinese Shadow Banking Segment -- 5.11 Chinese Shadow Banking in Recent Years (2016-2019) -- 5.11.1 Stimulus, Regulatory Intervention and a Changing Marketplace -- 5.11.2 China's Corporate Debt Problem -- 6: Shadow Banking in (South) Africa -- 6.1 Introduction -- 6.2 The Remaining African Continent -- 6.3 It's Direct Neighbor: The Middle East -- 7: Future Directions -- 7.1 Introduction -- 7.2 The Effect of Bank Capital Requirementon Growth -- 7.3 The Holistic Financial Industryand Its Function -- 7.4 Is More Market-Based Funding the Solution? 7.5 What Role Should Finance Have in Societyand What Benefits Should Be Expected? Nonbank financial institutions Erscheint auch als Druck-Ausgabe Nijs, Luc The Handbook of Global Shadow Banking, Volume II Cham : Springer International Publishing AG,c2020 9783030348168 |
| spellingShingle | Nijs, Luc The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics Intro -- Preface -- Contents -- List of Tables -- List of Boxes -- 1: The Macroeconomic Dimensions of Shadow Banking -- 1.1 Introduction -- 1.2 Shadow Banking Dynamics and Monetary Policy -- 1.3 Liquidity Transformation in the Shadow Banking Sector -- 1.4 Policy Implications of the Macroeconomic Understanding of Shadow Banking Dynamics and Activities -- 1.5 Liquidity and Economic Growth -- 1.6 Liquidity Risk Transmission in (Shadow) Banking -- 1.7 What Predicts Financial (In)stability? -- 1.8 Traditional Banks and Shadow Banks: Connected at the Hip -- 1.9 The Interaction Between (Capital) Regulation and the Role of the Shadow Banking System -- 1.10 The Emergence of Hybrid Intermediaries: The Organizational Dimension of Shadow Banking -- 1.11 The Macro-View on Shadow Banking: The Search for Levered Beta -- 1.12 Fragility and Shadow Banking: Does It Have to Be That Way?180 -- 1.13 Regulatory Arbitrage: Many Ways, Few Solutions (So Far) -- 1.14 Shadow Banking Fragility and Implicit Guarantees in the Banking Sector -- 1.15 Should We Get Rid of the Limited Liability Concept in Shadow Banking? -- 1.16 Financial Fragility and Collateral Crises -- 1.17 The Central Bank and the Private Shadow Banking Market -- 1.17.1 Involvement -- 1.17.2 Should There Be a Lender of Last Resort for the Shadow Banking Market? -- 1.17.3 The Limits of Central Banking Liquidity -- 1.18 (Shadow) Bank Business Models: Fragility and Sustainability -- 1.18.1 Fragility in Shadow Banking -- 1.18.2 Financial Stability Options for Shadow Banking Entities -- 1.19 The Relationship Between the 'Solvency' of the Shadow Banking Sector and the 'Liquidity' of the Financial Markets: The Systemic Risk Angle -- 1.20 The (Re)use of Collateral in the Repo Market -- 1.20.1 Introduction -- 1.20.2 Rehypothecation of Repos 1.20.3 The Use of Collateral and the Nature and Depth of the Interconnectedness in the Shadow Banking Market -- 1.20.4 Central Banks and Their Collateral Frameworks385 -- 1.20.5 Haircuts and Collateral Reuse -- 1.20.6 Heterogeneous Collateral Damage -- 1.20.7 Collateral Management and Optimization -- 1.21 Collateral Reuse and the Liquidity Trap -- 1.21.1 Introduction -- 1.21.2 Rehypothecation and Collateral Reuse -- 1.21.3 The Collateral Trap -- 2: Shadow Banking Around the Globe -- 2.1 Introduction -- 2.2 Assessing Risks in the Shadow Banking Industry -- 2.3 The Role of Debt and Information Insensitivity in Our Contemporary Financial System -- 2.4 Debt Markets and the Shadow Banking Industry -- 2.5 Keeping the Boon and Banning the Bane in Shadow Banking -- 2.6 Explaining the Growth of the Shadow Banking Market -- 2.7 How Does the Growth and Dynamics of the Global Shadow Banking Sector Translate in (New) Risks? -- 2.8 Drivers of the Shadow Banking System -- 2.9 The Role of Regulation Going Forward -- 2.10 Analyzing Different and Comparing Shadow Banking Systems -- 2.10.1 Introduction -- 2.10.2 The (Near) Global Marketplace for Shadow Banking131 -- 2.10.3 Which Are the Actors in the Nonbank Financial Intermediary Space?134 -- 2.10.4 Filtering Out Nonbank Financial Activities -- 2.10.5 Interconnectedness Between Banks and Nonbank Financial Entities -- 2.10.6 Private Lending and Private Debt Markets -- 2.11 Comparing the Major Shadow Banking Systems -- 2.11.1 Comparison Between the US and the Chinese Shadow Banking Model -- 2.11.2 Comparing the US and European Shadow Banking Sector -- 2.12 Contemporary Global Developments in the Shadow Banking Market -- 2.12.1 Introduction -- 2.12.2 Overview of Findings -- 2.12.3 Methodology and Detailed Analysis 2.12.4 The Continued Issue of the Interconnectedness Between Banks and Nonbank Financial Institutions -- 2.12.5 Macro-View on All Nonbank Financial Intermediation -- 2.13 Global Shadow Banking and Its Relation with (Offshore) Financial Centers -- 2.13.1 Introduction -- 2.13.2 The Regulatory Conundrums When Shadow Banking and Tax Havens Meet -- 2.14 Shadow Banking Emergence in Emerging Economies -- 2.15 Global Shadow Banking in Recent Years (2015-2019)232 -- 2.15.1 The Most Recent Data Tell Us What Exactly -- 2.15.2 Crowdfunding-Based Lending Models Outside the Banking Sector -- 2.15.3 Specific Observations in Niche Segments of the Narrow Shadow Banking Market -- 2.15.3.1 UK Real Estate Funds306 -- 2.15.3.2 Liquidity Issues at Irish Money Market Funds and Government Bond Funds308 -- 2.15.3.3 The Dynamics of Leveraged Finance312 -- 2.15.4 The Nature of Nonbank Credit Innovation Is Continuously Changing -- 3: The EU Shadow Banking Market -- 3.1 Introduction -- 3.2 The Dynamics of the EU Shadow Banking Sector -- 3.3 The Broader Perspective on Shadow Banking -- 3.4 Drivers of Growth of the EU Shadow Banking System -- 3.5 The EU Policy Approach Regarding Shadow Banking -- 3.6 Shadow Banking and the Impact on the Stability of the Financial Sector -- 3.7 The EU's Regulatory Initiatives in the Field of Shadow Banking -- 3.8 Securities Financing Transactions and Re-collateralization -- 3.9 The Interconnectedness Between the Shadow Banking System and the Tradional Banking System -- 3.10 Sizing the European Shadow Banking Market -- 3.10.1 Introduction -- 3.10.2 How Does the European Shadow Banking Market Compare to Those Elsewhere? -- 3.11 Comparion Between the US and European Shadow Banking Segment -- 3.12 The Dynamics of the Shadow Banking Sector and the EU Financial Stability -- 3.13 Central Clearing: Also Systemic Risk in the Making in Europe? 3.14 The Capital Markets Union and the Securitization Sector -- 3.14.1 Introduction and Context -- 3.14.2 The Structure and Content of the Securitization Regulation -- 3.14.3 Lower Capital Requirements for Securitization Products -- 3.14.4 Will the CMU Project, and in Particular the Securitization Intiative, Make a Real Difference? -- 3.14.5 EU Capital Markets and the CMU Project -- 3.15 Shadow Banking Is Now a Structural Aspect of the European Financial Infrastructure -- 3.15.1 Introduction -- 3.15.2 Country Specifics in the EU Banking Sector -- 3.15.3 Shadow Banking in Swizerland -- 3.15.4 The Shadow Banking in the Netherlands -- 3.15.4.1 Introduction -- 3.15.4.2 Special Financial Institutions -- 3.15.5 The Shadow Banking System in Switzerland -- 3.16 European Shadow Banking in Recent Times -- 3.16.1 Introduction -- 3.16.2 The Growth of the EU Shadow Banking Sector and Financial Stability Risk -- 3.17 Safe Asset Creation (in the EU) -- 3.17.1 Introduction: Manufacturing Safe Assets -- 3.17.2 Safe Assets as a Distinct Asset Segment -- 3.17.3 Are Safe Assets a Problem -- 3.17.4 The Sovereign Bond-Backed Securities Proposal -- 3.17.5 Alternatives to the SBBS Model -- 3.17.6 Are There Downsides to (Private) Safe Asset Creation? -- 4: Shadow Banking in the Americas -- 4.1 Introduction -- 4.2 Findings Regarding Shadow Banking in the Americas -- 4.3 The Real Shadow Banking Exposure in the Americas -- 4.4 A Closer Look at the Shadow Banking Industry in the Region -- 4.4.1 Introduction -- 4.4.2 Structure of the Americas Financial Systems -- 4.4.3 Other Financial Intermediaries -- 4.4.4 Interconnectivity Between OFIs and the Banking Sector -- 4.4.5 Remaining Blind Spots -- 4.5 The Role of International Financial Centers in the Region -- 4.6 Existing Risks from Credit Intermediation in the Region -- 4.7 The Case of Shadow Banking in the Caribbean 4.8 Shadow Banking in Canada: Why Was Canada Not Badly Hit During the Crisis? -- 4.9 Recent Evolution in the Americas -- 4.9.1 Introduction -- 4.9.2 Recent Trends in the Americas (2016-2019) -- 5: Shadow Banking in Asia -- 5.1 Introduction -- 5.2 Key Findings of the Asia-Specific Study -- 5.3 Scoping and Role of OFIs in the Asia Region -- 5.4 A Further Examination of the Demarcation Line Between NBFIs and Shadow Banking -- 5.5 The Intensity and Categorization of Shadow Banking Risks in Asia -- 5.6 Some Asian Shadow Banking Illustrations29 -- 5.7 Drivers of Shadow Banking in South-East Asia (SEA) -- 5.8 The Asian Financial Centers and Their Shadow Banking Markets -- 5.9 Shadow Banking in the Asia Region-Country Specifics -- 5.10 Shadow Banking in China -- 5.10.1 Introduction -- 5.10.2 The Different Components of the Chinese Shadow Banking System -- 5.10.3 The Wealth Management Product Group Market and Outlook -- 5.10.4 Wealth Management Products and Trust Companies in China -- 5.10.5 The Interconnectedness of the Chinese Shadow Banking Segment -- 5.10.6 The Chinese Shadow Banking Market and 'Information Asymmetry' -- 5.10.7 Securitization in China -- 5.10.8 Systemic Risk in the Chinese Shadow Banking System -- 5.10.9 The Political Dimension in the Chinese Shadow Banking Segment -- 5.11 Chinese Shadow Banking in Recent Years (2016-2019) -- 5.11.1 Stimulus, Regulatory Intervention and a Changing Marketplace -- 5.11.2 China's Corporate Debt Problem -- 6: Shadow Banking in (South) Africa -- 6.1 Introduction -- 6.2 The Remaining African Continent -- 6.3 It's Direct Neighbor: The Middle East -- 7: Future Directions -- 7.1 Introduction -- 7.2 The Effect of Bank Capital Requirementon Growth -- 7.3 The Holistic Financial Industryand Its Function -- 7.4 Is More Market-Based Funding the Solution? 7.5 What Role Should Finance Have in Societyand What Benefits Should Be Expected? Nonbank financial institutions |
| title | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_auth | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_exact_search | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_exact_search_txtP | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_full | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_fullStr | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_full_unstemmed | The Handbook of Global Shadow Banking, Volume II The Future of Economic and Regulatory Dynamics |
| title_short | The Handbook of Global Shadow Banking, Volume II |
| title_sort | the handbook of global shadow banking volume ii the future of economic and regulatory dynamics |
| title_sub | The Future of Economic and Regulatory Dynamics |
| topic | Nonbank financial institutions |
| topic_facet | Nonbank financial institutions |
| work_keys_str_mv | AT nijsluc thehandbookofglobalshadowbankingvolumeiithefutureofeconomicandregulatorydynamics |