Shadow Banking

  title={Shadow Banking},
  author={Zoltan Pozsar and T. Adrian and Adam B. Ashcraft and Hayley Boesky},
  • Zoltan Pozsar, T. Adrian, +1 author Hayley Boesky
  • Published 2013
hadow banking activities consist of credit, maturity, and liquidity transformation that take place without direct and explicit access to public sources of liquidity or credit backstops. These activities are conducted by specialized financial intermediaries called shadow banks, which are bound together along an intermediation chain known as the shadow banking system (see “The Shadow Banking System” Online Appendix). In the shadow banking system, credit is intermediated through a wide range of… CONTINUE READING
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