credit activity, and heightened risk appetite—attributable to the commodity boom—are fuelling price volatility in asset …

for these markets to operate at their current levels. Systemic risk costs of highly connected SIFIs nodes are not priced … into their holding of capital or collateral. An eigenvector centrality based ‘super-spreader’ tax has been designed and …

. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment …

been a significant decline in the interconnectedness in the pledged collateral market between banks and nonbanks. We find … that both the collateral and its associated velocity are not rebounding as of end-2011 and still about $4-5 trillion lower …

borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity … of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains …

learn from observed realizations of financial conditions. At the same time, the collateral constraint introduces a pecuniary …

Large banks and dealers use and reuse collateral pledged by nonbanks, which helps lubricate the global financial system …. The supply of collateral arises from specific investment strategies in the asset management complex, with the primary … been a significant decline in the source collateral for the large dealers that specialize in intermediating pledgeable …

household debt levels are the most important potential risk factor and will need to be watched closely. …