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New Landscape, New Challenges

New Landscape, New Challenges »

Source: New Landscape, New Challenges : Structural Change and Regulation in the U.S. Financial Sector

Volume/Issue: 2007/195

Series: IMF Working Papers

Author(s): Ashok Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451867596

Keywords: Regulation, Supervision, banking, hedge, hedge funds,

Given the rapid evolution of the U.S. financial sector and attendant regulatory challenges, this paper explores ways to fine-tune U.S. oversight arrangements. It surveys the financial landscape, separating a highly...

Measuring off-Balance-Sheet Leverage

Measuring off-Balance-Sheet Leverage »

Source: Measuring off-Balance-Sheet Leverage

Volume/Issue: 2000/202

Series: IMF Working Papers

Author(s): Peter Breuer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2000

ISBN: 9781451874396

Keywords: off-balance-sheet leverage, derivatives, capital adequacy, derivative, hedge funds, forward contract, hedge

The simultaneous unwinding of leveraged positions can trigger financial market turbulence. Although balance-sheet measures of leverage are available, it is useful to construct a measure of leverage that incorporate...

Financial Plumbing and Monetary Policy

Financial Plumbing and Monetary Policy »

Source: Financial Plumbing and Monetary Policy

Volume/Issue: 2014/111

Series: IMF Working Papers

Author(s): Manmohan Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 June 2014

ISBN: 9781498367134

Keywords: quantitative easing, collateral velocity, Federal Reserve, repo rate, hedge, hedge funds, hedge fund, Government Policy and Regulation, International Monetary Arrangements and Institutions, Corporation and Securities Law,

This paper focuses on how changes in financial plumbing of the markets may impact the monetary policy options as central banks contemplate lift off from zero lower bound (ZLB). Under the proposed regulations, banks...

New Landscape, New Challenges
			: Structural Change and Regulation in the U.S. Financial Sector

New Landscape, New Challenges : Structural Change and Regulation in the U.S. Financial Sector »

Volume/Issue: 2007/195

Series: IMF Working Papers

Author(s): Ashok Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

DOI: http://dx.doi.org/10.5089/9781451867596.001

ISBN: 9781451867596

Keywords: Regulation, Supervision, banking, hedge, hedge funds,

Given the rapid evolution of the U.S. financial sector and attendant regulatory challenges, this paper explores ways to fine-tune U.S. oversight arrangements. It surveys the financial landscape, separating a highly...

Managerial Incentives and Financial Contagion

Managerial Incentives and Financial Contagion »

Source: Managerial Incentives and Financial Contagion

Volume/Issue: 2004/199

Series: IMF Working Papers

Author(s): Sujit Chakravorti , and Subir Lall

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

ISBN: 9781451860146

Keywords: Financial Crises, Index Investors, Global Linkages, market asset, market assets, hedge funds, risk aversion, bond, Financial Aspects of Economic Integration,

This paper proposes a framework for comovements of asset prices with seemingly unrelated fundamentals, as an outcome of optimal portfolio strategies by fund managers. In emerging markets, dedicated managers outperf...

The (Sizable) Role of Rehypothecation in the Shadow Banking System

The (Sizable) Role of Rehypothecation in the Shadow Banking System »

Source: The (Sizable) Role of Rehypothecation in the Shadow Banking System

Volume/Issue: 2010/172

Series: IMF Working Papers

Author(s): Manmohan Singh , and James Aitken

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201839

Keywords: Rehypothecation, FSA, Velocity or Churning of Collateral, Counterparty Risk, collateral, hedge, hedge funds, hedge fund, Financial Institutions and Services: Government Policy and Regulation, International Monetary Arrangements and Institutions

This paper examines the sizable role of rehypothecation in the shadow banking system. Rehypothecation is the practice that allows collateral posted by, say, a hedge fund to its prime broker to be used again as coll...

Is Systematic Default Risk Priced in Equity Returns? A Cross-Sectional Analysis Using Credit Derivatives Prices

Is Systematic Default Risk Priced in Equity Returns? A Cross-Sectional Analysis Using Credit Derivatives Prices »

Source: Is Systematic Default Risk Priced in Equity Returns? A Cross-Sectional Analysis Using Credit Derivatives Prices

Volume/Issue: 2006/148

Series: IMF Working Papers

Author(s): Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

ISBN: 9781451864083

Keywords: Equity returns, default risk, credit derivatives, credit derivatives indices, collateralized debt obligations, bond, hedge funds, General Financial Markets: General (includes Measurement and Data),

This paper finds that systematic default risk, or the event of widespread defaults in the corporate sector, is an important determinant of equity returns. Moreover, the market price of systematic default risk is on...

Puts in the Shadow

Puts in the Shadow »

Source: Puts in the Shadow

Volume/Issue: 2012/229

Series: IMF Working Papers

Author(s): Manmohan Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2012

ISBN: 9781475510560

Keywords: money market funds, tri-party repo, OTC derivatives, CCPs, Floating Rate Notes, collateral, SIFIs, SIBs, non-banks, banking

In the aftermath of the Lehman crisis, payouts (i.e., taxpayer bailouts) in various forms were provided by governments to a variety of financial institutions and markets that were outside the regulatory perimeter -...

Measuring off-Balance-Sheet Leverage

Measuring off-Balance-Sheet Leverage »

Volume/Issue: 2000/202

Series: IMF Working Papers

Author(s): Peter Breuer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2000

DOI: http://dx.doi.org/10.5089/9781451874396.001

ISBN: 9781451874396

Keywords: off-balance-sheet leverage, derivatives, capital adequacy, derivative, hedge funds, forward contract, hedge

The simultaneous unwinding of leveraged positions can trigger financial market turbulence. Although balance-sheet measures of leverage are available, it is useful to construct a measure of leverage that incorporate...

Financial Plumbing and Monetary Policy

Financial Plumbing and Monetary Policy »

Volume/Issue: 2014/111

Series: IMF Working Papers

Author(s): Manmohan Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 June 2014

DOI: http://dx.doi.org/10.5089/9781498367134.001

ISBN: 9781498367134

Keywords: quantitative easing, collateral velocity, Federal Reserve, repo rate, hedge, hedge funds, hedge fund, Government Policy and Regulation, International Monetary Arrangements and Institutions, Corporation and Securities Law,

This paper focuses on how changes in financial plumbing of the markets may impact the monetary policy options as central banks contemplate lift off from zero lower bound (ZLB). Under the proposed regulations, banks...