Page 1 IMF STAFF DISCUSSION NOTE December 4, 2012 SDN/12/12 Shadow Banking:
Economics and Policy Stijn Claessens, Zoltan Pozsar, Lev Ratnovski, and Manmohan Singh …

This paper discusses liquidity regulation when short-term funding enables credit growth but
generates negative systemic risk externalities. It focuses on the relative merit of price versus …

The following sections are included: Introduction The Dodd–Frank Resolution Mechanism
for Nonbank SIFIs The US Repo Market Evolution of the US Repo Market Repo Market and …

The 'shadow banking'sector is a loose title given to the financial sector that exists outside the
regulatory perimeter but mimics some structures and functions of banks. This column …

We examine the desirability of granting “safe harbor” provisions to creditors of financial
intermediaries in sale-and-repurchase (repo) contracts. Exemption from an automatic stay in …

In August, prudential regulatory reform won a battle and lost another. The Basel III capital
ratios proposals are reasonable, if much delayed and at risk of further weakening. More …

The chapter reconceptualizes financial innovation. In this context, it discusses the risks of
financial innovation and contemporary regulatory reforms addressing those risks. It provides …

In the aftermath of the Lehman crisis, payouts (ie, taxpayer bailouts) in various forms were
provided by governments to a variety of financial institutions and markets that were outside …

In response to the 2008 runs on deposit-like assets, namely repo and money market funds,
the Fed created new liquidity facilities for nonbanking institutions and the Treasury …

Abstract Back in 2009, G-20 leaders have called for all standardized over-the-counter (OTC)
derivatives to be cleared through central counterparties (CCPs). By now, 18 of the 24 …