shadow banking

  • Surprisingly difficult to do curved arrows in Google Drawings.

    News

    New York Financial Regulator Not A Fan Of “Shadow Insurance”

    I don’t particularly hang out with insurance and I assume that if you do today’s big angry report on captive reinsurance, by Benjamin Lawsky and his New York State Department of Financial Services,1 doesn’t come as much of a surprise. Still it’s fun for me because of its overlap with some of my favorite financial […]

    / Jun 12, 2013 at 12:01 PM
  • News

    The Beard Senses Danger

    Ben Bernanke has done all he can, and it might not be enough.

    / May 10, 2013 at 5:19 PM
  • It's been too long, Googly-Eyed Pile Of Money.

    Banks, News

    Who Would You Rather Trust: Bankers Or Regulators?

    A simple model of banking regulation and, like, counter-regulation goes something like this: Regulators are conservative and dumb, and want to safeguard banks from bad risks even at the cost of preventing good risks, Bankers are aggressive and smart, and want to take lots of good risks even at the cost of taking some bad […]

    / May 7, 2013 at 12:11 PM
  • The temptation to use a googly-eyed pile of money was strong but I resisted. The guy gave the speech after all.

    News

    NY Fed President Wants To Subsidize Shadow Banking More, Or Get Rid Of It, One Or The Other

    One reason that it’s silly to get worked up about banks gambling with your deposits is that they’re mostly not. Your deposits have a tendency to be structurally senior, insured, at regulated subs, etc.; nothing all that bad will happen to them. Banks are gambling with your money market funds, and with the securities-lending proceeds […]

    / Feb 1, 2013 at 5:23 PM
  • The "Monitor" is the only one with graphs; the rest are just Q&A and recommendations and things.

    News

    Shadow Banking System Is Back Down To About Half The Size Of Regular Banking System

    The Financial Stability Board is … is a thing, first of all, did you know that? It’s not the Financial Stability Oversight Council, though it is as far as I can tell a global version of that with similar composition (senior regulators! in a room!) and obsessions (shadow banking! money market funds!). It’s also not […]

    / Nov 19, 2012 at 12:57 PM
  • This cash is awake.

    Banks, News

    Shadow Banking Is Just Like Regular Banking, Only Darker

    It feels virtuous every so often to take glance over at the triparty repo market. You get a nice dose of horrified vertigo and then go back to your life and don’t think about it for a while and that always feels better. Now is a good time to get back to it, what with […]

    / Aug 2, 2012 at 1:13 PM
  • News

    This Week In Alarming Papers About Collateral

    I am always afraid to wade into the world of collateral and repo and rehyp and whatnot because it is big and complicated and smarter people than I splash around in it, but this week has had some good stuff so let’s talk about it for a bit. NBER’s weekly dump of things you could […]

    / Jan 24, 2012 at 3:47 PM
  • News

    New Report Features CDS And Shadow Banking, Is Not In The Sunday Times

    Here is a wonderful sentence: A key insight from the enhanced BIS credit derivatives data is that non-rated multi-name credit risk sourced from multiple sectors has been transferred from derivatives dealers to IFGCs, SPVs and OFCs. Yeah! Wh … what? It’s from the quarterly review of the Bank for International Settlements, which is a delightful […]

    / Dec 12, 2011 at 3:12 PM
  • News

    Don’t Ask Jon Corzine To Remember Petty Details Like Where He Put All His Customers’ Money

    Despite popular perception, the financial industry isn’t actually made up entirely of “investment bankers” but rather of a whole range of people from those who work for months on years to close deals with $100mm fees that are pure profit, all the way down to people who do overnight lending of treasuries to make a […]

    / Dec 8, 2011 at 1:54 PM

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