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|z 9781463927233
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|a Singh, Manmohan.
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|a The Nonbank-Bank Nexus and the Shadow Banking System /
|c Manmohan Singh, Zoltan Pozsar.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2011.
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|a 1 online resource (19 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The present way of thinking about financial intermediation does not fully incorporate the rise of asset managers as a 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 the U.S. may be up to USD 25 trillion at year-end 2007 and USD 18 trillion at year-end 2010, higher than earlier estimates. In terms of policy, regulators will need to consider the re-use of pledged collateral when defining bank leverage ratios. Also, given asset managers' demand for non-M2 types of money, monitoring the shadow banking system will warrant closer attention well beyond the regulatory perimeter.
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|a Mode of access: Internet
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|a Pozsar, Zoltan.
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|a IMF Working Papers; Working Paper ;
|v No. 2011/289
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2011/289/001.2011.issue-289-en.xml
|z IMF e-Library
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