Pozsar, Zoltan; Adrian, Tobias; Ashcraft, Adam; Boesky, … - Federal Reserve Bank of New York - 2010
institutions. Shadow banks are financial intermediaries that conduct maturity, credit, and liquidity transformation without access … to central bank liquidity or public sector credit guarantees. Examples of shadow banks include finance companies, asset … conduct credit, maturity, and liquidity transformation, but unlike traditional financial intermediaries, they lack access to …