The growth of shadow banking: a comparative institutional analysis
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge ; New York ; Port Melbourne ; New Delhi ; Singapore
Cambridge University Press
2018
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| Subjects: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030444977&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Item Description: | Literaturverzeichnis: Seite 245-283 |
| Physical Description: | xv, 289 Seiten Illustrationen |
| ISBN: | 9781107161986 |
Staff View
MARC
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Record in the Search Index
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|---|---|
| adam_text | Contents
Preface page xi
1 States and the Regulation of a Globalized Finance 1
Context Conditions for Regulatory Action 4
The Dialectical Unity of Regulators and the Regulated 9
The National Level: Regulatory Dialogues on Financial
Innovations 11
State-Society Relations and the Supervision of Finance 13
The Empirical Content of the Book 16
Methodological Considerations 18
Anticipated Conclusions 19
2 The ABCP Market at the Heart of Shadow Banking
and the Financial Crisis 23
Shadow Banking and the Financial Crisis 23
The Role of Banks in Securitization 26
The Infrastructure of Shadow Banking: SPEs and Bank
Conglomerates 28
When the Music Stopped: The Run on the Shadow Banking
System 32
The Impact of the Fallout of the ABCP Markets on the USA
and European Nations 35
The Regulatory Impact on the Sponsoring of ABCP Conduits
by Banks 44
The Impact of Regulatory Interventions in My Four Cases 49
3 How to Explain the Absence of Regulatory Action
on Shadow Banking: Situating Regulators in Their
Socioeconomic Context 53
Regulatory and Cognitive Capture 54
Ignorance, State Capacity, and Structural Constraints of Regulators 63
Regulatory Arbitrage, Information Asymmetries, and
Regulatory Dialogues 64
Vll
Contents
viii
The Context of National Regulatory Action: Transnational
Governance Formation and Level Playing Field Concerns 71
4 The Transformation of US Financial Markets since the
1960s and the Emergence and Growth of the ABCP Market 76
The Challenge to Commercial Banks on the Asset and
Liability Side 77
The Rise of the Commercial Paper Market 80
The Financial Turbulences of the 1980s and the Birth of the
ABCP Market 84
First Regulatory Dialogues 88
The Formulation of the First Regulatory Framework: 1988-1992 90
Changes in the ABCP Market in the 1990s and Regulatory Unease 96
The Basel II Negotiations from a US Perspective 100
Enron and the Ensuing Uncertainty in the ABCP Market 102
5 In the Shadow of Basel 111
How the Basel Accords Furthered the ABCP Market and
Limited Its National Regulation 113
National Inaction at the Margins of Basel 116
The Bank-Regulator Alignment in the Process of European
Financial Integration 129
Structural Reasons for the Differential Regulation of the
ABCP Market in the EU 132
France 136
Germany 138
The Netherlands 140
Conclusion 141
6 Converging Procedures or Standards?: The Challenge of
the IASC and Domestic Pathways to SIC 12 144
National Regulatory Change and Transnational Challenges 145
The Ascendance of the IASC and Its Challenge to National
Standard Setters 149
The Netherlands 134
France 158
Germany 161
Discussion and Conclusion 166
7 Steering Finance toward Prudence: The Role of Banking
Regulators in the Governance of Compliance Decisions 171
Regulatory Dialogues: The Fight over the Implementation of
Principles-Based Rules 172
Contents ix
Germany: Ignorance Caused by Distance 175
The (Absent) Regulatory Dialectic 178
The Netherlands: Cognitive Capture through One-Sided Dialogue 181
France: Embedded Regulators 186
The Social Structure of Regulatory Supervision and the
Prevention of Rule Evasion 196
Conclusions 199
8 The Fate of the Bank-Based Shadow Banking System
Postcrisis 202
The Liquidity Crises of 2007-2008 and Government Back
Stops in the United States and EU 202
The Regulation of the ABCP Market Postcrisis 205
The Timid Reregulation of Mutual Funds and the Unabated
Demand for Safe Short-Term Assets 210
9 Conclusion; Changing the Façade, but Not the
Structure: The Continuing Threat of Shadow Banking 225
Assessing the Changes in the Postcrisis Governance Architecture 228
The Future of the Shadow Banking System 233
Appendix A: Interview Data 241
Appendix B 244
References 245
Index 285
|
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| id | DE-604.BV045053282 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T18:16:44Z |
| institution | BVB |
| isbn | 9781107161986 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-030444977 |
| oclc_num | 1039289580 |
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| physical | xv, 289 Seiten Illustrationen |
| publishDate | 2018 |
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| publisher | Cambridge University Press |
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| spellingShingle | Thiemann, Matthias 1980- The growth of shadow banking a comparative institutional analysis Schattenwirtschaft (DE-588)4052105-9 gnd Kreditwesen (DE-588)4032950-1 gnd |
| subject_GND | (DE-588)4052105-9 (DE-588)4032950-1 |
| title | The growth of shadow banking a comparative institutional analysis |
| title_auth | The growth of shadow banking a comparative institutional analysis |
| title_exact_search | The growth of shadow banking a comparative institutional analysis |
| title_full | The growth of shadow banking a comparative institutional analysis Matthias Thiemann (Centre d'Études Européens, Sciences Po Paris) |
| title_fullStr | The growth of shadow banking a comparative institutional analysis Matthias Thiemann (Centre d'Études Européens, Sciences Po Paris) |
| title_full_unstemmed | The growth of shadow banking a comparative institutional analysis Matthias Thiemann (Centre d'Études Européens, Sciences Po Paris) |
| title_short | The growth of shadow banking |
| title_sort | the growth of shadow banking a comparative institutional analysis |
| title_sub | a comparative institutional analysis |
| topic | Schattenwirtschaft (DE-588)4052105-9 gnd Kreditwesen (DE-588)4032950-1 gnd |
| topic_facet | Schattenwirtschaft Kreditwesen |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030444977&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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