The Repo as a Part of Shadow Banking. An Empirical and Regulatory Discussion
Autor: | Sebastian Bieder |
---|---|
EAN: | 9783956874246 |
eBook Format: | |
Sprache: | Englisch |
Produktart: | eBook |
Veröffentlichungsdatum: | 17.06.2015 |
Kategorie: | |
Schlagworte: | ABS Banken Basel CCP CDO CDS ECB EMIR EZB FED Finanzkrise Finanzmarkt Finanzmärkte Investmentb Krise Liquidität Regulierung Repo Repurchase Agreement Risiken Risiko Schattenbanken Shadowbanking Volkswirtschaft Wirtschaftskrise |
29,99 €*
Versandkostenfrei
Die Verfügbarkeit wird nach ihrer Bestellung bei uns geprüft.
Bücher sind in der Regel innerhalb von 1-2 Werktagen abholbereit.
Scientific Essay from the year 2014 in the subject Economics - Macro-economics, general, grade: 1,5, University of Innsbruck (Banking and Finance), language: English, abstract: Repos are not only one of the financial instruments with crucial importance for funding. They primarily played a significant role to the recent financial crisis as well. Hence, the question is, whether Basel III and the Dodd-Frank Act successfully mitigate instabilities in repo markets. Within this analysis and by reviewing key studies, I am going to explain two statements: Firstly, how Gorton and Metrick (2012) empirically verified that the repo functioned as a crisis trigger, and secondly, how Valderrama (2010) modeled an economic framework to deduce several constrictions for regulators. These researches build the base for the evaluation of repo regulations. I explain why capital requirements and CCPs are the most effective preventive policies to reduce both counterparty credit risk and systemic liquidity risk associated with repos. Under a libertarian evaluation approach, specifically the CCP framework constitutes an effective element and starting point for regulatory haircuts and liquidity ratios.