Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 13 November 2019

Abstract and Keywords

Financial innovation has transformed intermediation from a process involving a single financial institution to a chain of transactions broken down among several institutions. Following the Great Financial Crisis, financial intermediation has shifted significantly from banks to non-banks, providing credit in the “shadows” of the regulated banking system. This chapter offers a definition of shadow banking and explanations for its existence, as well as providing an overview of attempts to measure its size. It explains how shadow banking differs from other forms of non-bank intermediation, in particular market-based finance, and discusses why regulators and academics should care about it. Further, the chapter reviews efforts to strengthen supervision and regulation and discusses some policy challenges on the horizon in the context of case studies.

Keywords: credit transformation, financial intermediation, liquidity transformation, market-based finance, maturity transformation, non-bank financial institutions, shadow banking

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.