{"product_id":"the-repo-as-a-part-of-shadow-banking-an-empirical-and-regulatory-discussion-9783668004306","title":"The Repo as a Part of Shadow Banking. An Empirical and Regulatory Discussion","description":"\u003cp\u003e • Author(s): Sebastian Bieder\u003cbr\u003e • Publisher: Grin Verlag\u003cbr\u003e • Publisher Imprint: Grin Verlag\u003cbr\u003e • BISAC: Economics - Macroeconomics\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eScientific Essay from the year 2014 in the subject Economics - Macro-economics, general, grade: 1,5, University of Innsbruck (Banking and Finance), language: English, 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 repos. Under a libertarian evaluation approach, specifically the CCP framework constitutes an effective element and starting point for regulatory haircuts and liquidity ratios.\u003c\/p\u003e","brand":"Grin Verlag","offers":[{"title":"Paperback","offer_id":45568445513879,"sku":"9783668004306","price":5105.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9783668004306.webp?v=1767181577","url":"https:\/\/atlanticbooks.com\/products\/the-repo-as-a-part-of-shadow-banking-an-empirical-and-regulatory-discussion-9783668004306","provider":"Atlantic Books","version":"1.0","type":"link"}