Financial Intermediation And The Post Crisis Financial System
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| Author | : Hyun Song Shin |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 2010 |
| Genre | : Global Financial Crisis, 2008-2009 |
| ISBN | : |
Securitization was meant to disperse credit risk to those who were better able to bear it. In practice, securitization appears to have concentrated the risks in the financial intermediary sector itself. This paper outlines an accounting framework for the financial system for assessing the impact of securitization on financial stability. If securitization leads to the lengthening of intermediation chains, then risks becomes concentrated in the intermediary sector with damaging consequences for financial stability. Covered bonds are one form of securitization that do not fall foul of this principle. I discuss the role of countercyclial capital requirements and the Spanish-style statistical provisioning in mitigating the harmful effects of lengthening intermediation chains.
| Author | : Tobias Adrian |
| Publisher | : DIANE Publishing |
| Total Pages | : 35 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 1437930905 |
This is a print on demand edition of a hard to find publication. The financial crisis of 2007-09 highlighted the changing role of financial institutions and the growing importance of the ¿shadow banking system,¿ which grew out of the securitization of assets and the integration of banking with capital market developments. In a market-based financial system, banking and capital market developments are inseparable, and funding conditions are tied closely to fluctuations in the leverage of market-based financial intermediaries. This report describes the changing nature of financial intermediation in the market-based financial system, charts the course of the recent financial crisis, and outlines the policy responses that have been implemented by the Fed. Reserve and other central banks. Charts and tables.
| Author | : Ilie Mihai |
| Publisher | : |
| Total Pages | : 11 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
The recent financial crisis that begun in 2007 in the US, which then swept around the world, has left deep scars on the already wrinkled face of the global economy.Some national and regional economies, which had money for expensive makeup, or created money, managed to blur or hide the scars left by the crisis, others are still facing difficulties in overcoming the effects of this. In 2009-2011, the US Central Bank (FED) printed and injected into the market over 2300 billion USD, the Central Bank of Britain the equivalent of approx. 315 billion USD and the European Central Bank, following the example of the British and the Americans, launched, staring with January 2015, a quantitative relaxation program totalling 1100 billion Euro.The rapacity of banks, their greed and risk ignorance, were the origin of the outbreak of the last major economic and financial crisis but unfortunately those who were responsible or, rather, irresponsible, paid little or nothing at all for the burden of their bad loan portfolio. This cost has been supported by the population, either directly by paying high interest and fees [Mihai I., 2007], or indirectly, through the use of public budgets to cover the losses of banks, most of which had private capital.In this context, we intend to examine the state of financial intermediation in Romania in the post-crisis period, and to primarily follow: (i) The structure and evolution of the banking system; (ii) Non-government credit situation; (iii) The level of savings; (iiii) Loan-deposit ratio; (v) The degree of financial intermediation and disintegration phenomenon etc., and to articulate some conclusions and suggestions on the matters that have been explored.
| Author | : Panagiotis Papadopoulos |
| Publisher | : GRIN Verlag |
| Total Pages | : 33 |
| Release | : 2011-04-12 |
| Genre | : Business & Economics |
| ISBN | : 3640891619 |
Research Paper (postgraduate) from the year 2011 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 70%, University of Westminster (Westminster Business School), course: MSc Finance and Accounting/ MSc International Finance, language: English, abstract: This coursework examines the effects which the financial crisis from 2007 to 2009 had in financial markets and institutions. Particularly, we are deeply analyzing the impact in the Stock Markets in the USA and Europe. We will concentrate on US stock market (S&P 500) and provide an incessant brief link to European stock markets such as FTSE 100 and DAX. The financial crisis from 2007 to 2009 is considered by many economists to be the worst crisis since the Great Depression of the 1930s. Furthermore, the use of monetary and fiscal policies and regulatory reforms is observed as well as what where the implications of these actions. Additionally, a discussion concerning the prospects of financial regulatory and the implications for the financial sector and economic growth are of great importance. To sum up, new trends and developments of the financial landscape and new challenges for partici-pants are discussed.
| Author | : Charles-Albert Lehalle |
| Publisher | : World Scientific Publishing Company |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : Business & Economics |
| ISBN | : 9789811252570 |
Financial Markets in Practice: From Post-Crisis Intermediation to FinTechs delivers an overview of the development of risk-transformation undertaken by the financial services industry from the perspective of quantitative finance. It provides an instructional and comprehensive explanation of the structure of the financial system as a network of risk suppliers and risk consumers, where different categories of market participants buy, transform, net, and re-sell different kinds of risks. This risk-transformation oriented view is supported by the changes that followed the last global financial crisis: consumers of financial products asked for less complex risk transformations, regulators demanded limiting risks inside financial institutions to the maximum extent possible, and market participants turned to run mass market-like businesses and away from bespoke 'haute couture'-like businesses.This book portrays the network of intermediaries that compose the financial system, describes their most common business models, explains the exact role of each kind of market participant, and underlines the interaction between them. It seeks to reveal the potential disintermediation that could occur inside the financial sector, led by FinTechs and Artificial Intelligence-based innovations.Readers are invited to reconsider the role of market participants in the post-crisis world and are prepared for the next wave of changes driven by data science, AI, and blockchain. Amid these innovations, quantitative finance will be increasingly involved in all aspects of the financial system. This handy resource helps practitioners from both the buy-side and sell-side gain insights to, and provides an overview of, business models in the financial system from an intermediation perspective, and guides students to comprehensively understand the complex ecosystem in which they will evolve.
| Author | : Douglas W. Arner |
| Publisher | : McGill-Queen's Press - MQUP |
| Total Pages | : 271 |
| Release | : 2019-10-02 |
| Genre | : Political Science |
| ISBN | : 1928096905 |
In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the global financial crisis would be felt immediately, at every level of the economy, it would also send years-long aftershocks through investment, banking and regulatory circles worldwide. More than a decade after the worst year of the global financial crisis, what has been learned from its harsh lessons? Are governments and regulators more prepared for another financial system failure that would significantly affect the real economy? What may be the potential triggers for such a collapse to occur in the future? Systemic Risk in the Financial Sector: Ten Years after the Great Crash draws on some of the world's leading experts on financial stability and regulation to examine and critique the progress made since 2008 in addressing systemic risk. The book covers topics such as central banks and macroprudential policies; fintech; regulators' perspectives from the United States and the European Union; the logistical and incentive challenges that impede standardization and collection; clearing houses and systemic risk; optimal resolution and bail-in tools; and bank leverage, welfare and regulation. Drawing on experts across disciplines — including Howell Jackson, John Geanakoplos, Charles Goodhart, Anat Admati, Roberta Romano and Martin Hellwig — Systemic Risk in the Financial Sector is the definitive guide to understanding the global financial crisis, the safeguards being put into place to try to avoid similar crises in the future, and the limitations of those safeguards.
| Author | : Małgorzata Iwanicz-Drozdowska |
| Publisher | : Taylor & Francis |
| Total Pages | : 173 |
| Release | : 2022-10-18 |
| Genre | : Business & Economics |
| ISBN | : 1000738892 |
The Role of Crises in Shaping Financial Systems: From the Global Financial Crisis to COVID-19 underscores the role of crises as turning points for the financial sector and its interactions with the real economy. It sheds new light on the financial industry through the lens of three recent crises – the global financial crisis, the sovereign debt crisis, and the COVID-19 pandemic. The book provides in-depth insight into the financial systems in European Economic Area countries, accentuating the role of crises in shaping the condition and development of the financial arena. The authors pay special attention to the differences between “old” and “new” Europe, i.e. countries that joined the EU in 2004 or later. It explores the implications of recent turbulences for financial institutions, financial markets, and public finance, and their relationship with the economy. The book examines low or negative interest rates, non-standard monetary policy, fiscal stimulus, dense safety nets, regulatory inflation, weak profitability of the financial sector, and the sovereign-bank nexus. Post-crisis developments are assessed, comprehensively and empirically, from both macro- and microeconomic perspectives to help readers understand the nature of policy measures and their socio-economic implications. The authors outline their predictions for the future of financial systems, focusing on the structural changes and legacy of the COVID-19 crisis and global financial interlinkages. The book adopts both theoretical and practical approaches to explore the key issues and, as such, will appeal to academics and students of financial economics and international finance, as well as policymakers and financial regulators.
| Author | : Manuela Moschella |
| Publisher | : ECPR Press |
| Total Pages | : 240 |
| Release | : 2014-07-01 |
| Genre | : Political Science |
| ISBN | : 1910259292 |
n the aftermath of the financial crisis, why has the reform process been incremental yet the conditions for more rapid and abrupt transformations appeared to be available? Is there anything specific about financial policy that prevents more radical reforms? Drawing from Comparative Politics and Historical Institutionalism in particular, as well as International Political Economy, this book answers these questions by examining the particular institutional frictions that characterise global financial governance and influence the activity of change agents and veto players involved in the process of global regulatory change. The chapters in this volume collectively demonstrate that the process of change in financial rule-making as well as in the institutions governing finance does not fit with the punctuated model of policy change. The book also shows, however, that incremental changes can lead to fundamental shifts in the basic principles that inform global financial governance.
| Author | : Carl-Johan Lindgren |
| Publisher | : |
| Total Pages | : 103 |
| Release | : 1999 |
| Genre | : Business & Economics |
| ISBN | : 9781557758712 |
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
| Author | : Z. Mikdashi |
| Publisher | : Springer |
| Total Pages | : 334 |
| Release | : 2001-08-08 |
| Genre | : Business & Economics |
| ISBN | : 023029412X |
The increasing interdependence of the world economy has huge implications for global finance in the twenty-first century. This volume brings together leading scholars and practitioners to offer in-depth analyses of the new direction open to the financial services industry. They explore the challenges and opportunities of the new finance era, future development in financial markets, with particular emphasis on the role of new technologies and the industry's view of strengthening financial intermediation. The book concludes with an assessment of key managerial and regulatory issues.
