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161223 ||| eng |
| 020 |
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|a 9781498391788
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| 100 |
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|a Harutyunyan, Artak
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| 245 |
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|a Shedding Light on Shadow Banking
|c Artak Harutyunyan, Alexander Massara, Giovanni Ugazio, Goran Amidžic, Richard Walton
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2015
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| 300 |
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|a 43 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Credit
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| 653 |
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|a Banks
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| 653 |
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|a Finance
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| 653 |
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|a Securities
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| 653 |
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|a Financial crises
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Banks and banking
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| 653 |
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|a Financial services
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| 653 |
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|a Mortgages
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a Shadow banking
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| 653 |
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|a Banking
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| 653 |
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|a Financial Risk Management
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| 653 |
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|a Money Multipliers
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| 653 |
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|a Law and legislation
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Pension Funds
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| 653 |
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|a Financial institutions
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| 653 |
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|a Financial Instruments
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Financial instruments
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| 653 |
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|a Nonbank financial institutions
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Investments: General
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| 653 |
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|a Money Supply
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| 653 |
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|a Financial services industry
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| 653 |
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|a Investment & securities
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| 653 |
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|a Finance: General
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| 653 |
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|a Financial Crises
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| 700 |
1 |
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|a Amidžic, Goran
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| 700 |
1 |
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|a Massara, Alexander
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| 700 |
1 |
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|a Ugazio, Giovanni
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781498391788.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2015/001/001.2015.issue-001-en.xml?cid=42579-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a In this paper, we develop an alternative approach to estimate the size of the shadow banking system, using official data reported to the IMF complemented by other data sources. We base our alternative approach on the expansion of the noncore liabilities concept developed in recent literature to encompass all noncore liabilities of both bank and nonbank financial institutions. As opposed to existing measures of shadow banking, our newly developed measures capture nontraditional funding raised by traditional banks. We apply the new approach to 26 jurisdictions and analyze the results over a twelve-year span. We find that noncore liabilities are procyclical and display more volatility than core liabilities for most jurisdictions in the sample. We also compare our measures to existing measures, such as the measure developed by the Financial Stability Board. Our approach can be replicated over time using internationally-comparable data and thus may serve as an operational tool for IMF surveillance and policy analysis
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