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Shadow Banking; Economics and Policy
Claessens, Stijn; Ratnovski, Lev; Singh, Manmohan - International Monetary Fund (IMF) - 2012
This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and …
Persistent link: https://www.econbiz.de/10011245881
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The Valuation Effects of Geographic Diversification; Evidence From U.S. Banks
Laeven, Luc; Goetz, Martin R.; Levine, Ross - International Monetary Fund (IMF) - 2012
This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank deregulation, we find that exogenous increases in...
Persistent link: https://www.econbiz.de/10009654142
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The Nonbank-Bank Nexus and the Shadow Banking System
Singh, Manmohan; Pozsar, Zoltan - International Monetary Fund (IMF) - 2011
major source of funding for banks through the shadow banking system. Asset managers are dominant sources of demand for non …-M2 types of money and serve as source collateral ?mines' for the shadow banking system. Banks receive funding through the … re-use of pledged collateral ?mined' from asset managers. Accounting for this, the size of the shadow banking system in …
Persistent link: https://www.econbiz.de/10009401188
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Chile; Institutions and Policies Underpinning Stability and Growth
Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004
This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...
Persistent link: https://www.econbiz.de/10005767351
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Japan's Distressed Debt Market
Ohashi, Kazunari; Singh, Manmohan - International Monetary Fund (IMF) - 2004
Sizable risk capital from outside may be necessary to accelerate Japan's corporate restructuring to replace the stock of impaired bank loans. To attract risk capital, impaired loans must find market-clearing prices. However, the asymmetry in the bid-ask prices faced by banks and distressed-debt...
Persistent link: https://www.econbiz.de/10005605029
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The (Sizable) Role of Rehypothecation in the Shadow Banking System
Singh, Manmohan; Aitken, James - International Monetary Fund (IMF) - 2010
This paper examines the sizable role of rehypothecation in the shadow banking system. Rehypothecation is the practice … banks was sizable. We show that the shadow banking system was at least 50 percent bigger than documented so far. We also …
Persistent link: https://www.econbiz.de/10008646418
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Puts in the Shadow
Singh, Manmohan - International Monetary Fund (IMF) - 2012
to a variety of financial institutions and markets that were outside the regulatory perimeter - the Â"shadow" banking … system. Although recent regulatory proposals attempt to reduce these Â"puts", we provide examples from non-banking activities …
Persistent link: https://www.econbiz.de/10011123818