Shadow bank monitoring

Tobias Adrian, Adam Ashcraft () and Nicola Cetorelli

No 638, Staff Reports from Federal Reserve Bank of New York

Abstract: We provide a framework for monitoring the shadow banking system. The shadow banking system consists of a web of specialized financial institutions that conduct credit, maturity, and liquidity transformation without direct, explicit access to public backstops. The lack of such access to sources of government liquidity and credit backstops makes shadow banks inherently fragile. Shadow banking activities are often intertwined with core regulated institutions such as bank holding companies, security brokers and dealers, and insurance companies. These interconnections of shadow banks with other financial institutions create sources of systemic risk for the broader financial system. We describe elements of monitoring risks in the shadow banking system, including recent efforts by the Financial Stability Board.

Keywords: shadow banking; financial stability monitoring; financial intermediation (search for similar items in EconPapers)
JEL-codes: E44 G00 G01 G28 (search for similar items in EconPapers)
Date: 2013-09-01
New Economics Papers: this item is included in nep-ban
Note: For a published version of this report, see Tobias Adrian, Adam B. Ashcraft, and Nicola Cetorelli, "Shadow Bank Monitoring," Oxford Handbook of Banking, 2nd Edition (Nov 2014): 378-409.
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Citations: View citations in EconPapers (7)

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