Collateral Transactions in the EU Shadow Banking Sector
KORTE INHOUD
This publication offers a pioneering in-depth analysis of the use of collateral transactions in the EU shadow banking sector. This author examines the topic from both a practical and theoretical standpoint, which yields valuable insights for practitioners, academics, students and generally interested parties. The Global Financial Crisis and the Covid-19 pandemic offer a vivid reminder that when leveraged financial institutions are forced to deleverage, margin levels rise, and deleveraging occurs. This, in turn, causes market participants to #run# in advance of other market participants, who are motivated to do exactly the same thing. As a result, a vicious cycle emerges where lenders raise margin levels thereby demanding more financial collateral, forcing de-leveraging and more asset fire sales, eventually generating a downward leverage and liquidity spiral. The source of this instability is a recurring phenomenon involving the build-up of leverage that makes the economy particularly vulnerable to financial ...
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2022 Uitgever: Uitgeverij Kluwer BV Reeks: Recht en praktijk financieel recht Taal: Engels Grootte: 248x170x22 ISBN-10: 9013168248 ISBN-13: 9789013168242Koop dit boek tweedehands
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