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Mapping the interconnectedness between EU banks and shadow banking entities

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dc.contributor.author Abad, Jorge
dc.contributor.author D'Errico, Marco
dc.contributor.author Killeen, Neill
dc.contributor.author Luz, Vera
dc.contributor.author Peltonen, Tuomas
dc.contributor.author Portes, Richard
dc.contributor.author Urbano, Teresa
dc.date.accessioned 2018-09-26T10:26:43Z
dc.date.available 2018-09-26T10:26:43Z
dc.date.issued 2018-04
dc.identifier.uri http://hdl.handle.net/10230/35501
dc.description.abstract This paper provides a unique snapshot of the exposures of EU banks to shadow banking entities within the global financial system. Drawing on a rich and novel dataset, the paper documents the cross-sector and cross-border linkages and considers which are the most relevant for systemic risk monitoring. From a macroprudential perspective, the identification of potential feedback and contagion channels arising from the linkages of banks and shadow banking entities is particularly challenging when shadow banking entities are domiciled in different jurisdictions. The analysis shows that many of the EU banks’ exposures are towards non-EU entities, particularly US-domiciled shadow banking entities. At the individual level, banks’ exposures are diversified although this diversification leads to high overlap across different types of shadow banking entities.
dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries ADEMU Working Paper Series;114
dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.
dc.rights.uri https://creativecommons.org/licenses/by/4.0/
dc.subject.other Interconnectedness
dc.subject.other Shadow banking
dc.subject.other Financial stability
dc.subject.other Macroprudential
dc.title Mapping the interconnectedness between EU banks and shadow banking entities
dc.type info:eu-repo/semantics/workingPaper
dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
dc.rights.accessRights info:eu-repo/semantics/openAccess

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