NY Fed: Shadow banks should not be kept in the dark
A New York Federal Reserve paper published in July on the shadow banking system in the United States, says the shadow banking system was temporarily brought into the daylight after being granted access to Federal Reserve funding facilities, but was soon pushed back into the shadows.
The authors - Zoltan Pozsar, Tobias Adrian, Adam Ashcraft, and Hayley Boesky - document the institutional features of shadow banks, discuss their economic roles, and analyse their relation to the traditional banking
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