The Repo as a Part of Shadow Banking. An Empirical and Regulatory Discussion
| Preis: | 39.99 EUR* (inkl. MWST zzgl. Versand - Preis kann jetzt höher sein!) |
| Versand: | 0.00 EUR Versandkostenfrei innerhalb von Deutschland |
| Partner: | buecher.de |
| Hersteller: | Grin Verlag (Bieder, Sebastian) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Scientific Essay from the year 2014 in the subject Economics - Macro-economics, general, grade: 1,5, University of Innsbruck (Banking and Finance), language: English, comment: Die nicht-technischen Kapitel des Buches sind auch für fachfremde Leser verständlich. Hintergrundwissen im Bereich Finanzmärkte ist von Vorteil, aber nicht zwingend notwendig., 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 re-pos. Under a libertarian evaluation approach, specifically the CCP framework constitutes an effective element and starting point for regulatory haircuts and liquidity ratios
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