G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12373
DP12373 Shadow Banking and the Four Pillars of Traditional Financial Intermediation
Emmanuel Farhi; Jean Tirole
发表日期2017-10-14
出版年2017
语种英语
摘要Traditional banking is built on four pillars: SME lending, access to public liquidity, deposit insurance, and prudential supervision. This vision has been shattered by repeated bailouts of shadow financial institutions. This paper puts "special depositors and borrowers'" at the core of the analysis, provides a rationale for the covariation yielding the quadrilogy, and analyzes how prudential regulation must adjust to the possibility of migration toward less regulated spheres. Ring fencing between regulated and shadow banking and the sharing of liquidity in centralized platforms are motivated by the supervision of syphoning and financial contagion.
主题Financial Economics
关键词Retail and shadow banks Lender of last resort Deposit insurance supervision Migration Ring fencing Ccps
URLhttps://cepr.org/publications/dp12373
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/541184
推荐引用方式
GB/T 7714
Emmanuel Farhi,Jean Tirole. DP12373 Shadow Banking and the Four Pillars of Traditional Financial Intermediation. 2017.
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