IMF researchers label asset managers collateral ‘mines’
An International Monetary Fund working paper released at the beginning of December studies the flaws in the present way of thinking about financial intermediation.
The paper, The Nonbank-Bank Nexus and the Shadow Banking System, written by Zoltan Pozsar and Manmohan Singh, says that the rise of asset managers as a major source of funding for banks through the shadow banking system is not fully incorporated in intermediation discussions.
The authors describe asset managers as source collateral
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