The (Other) deleveraging /
Deleveraging has two components--shrinking of balance sheets due to increased haircuts/shedding of assets, and the reduction in the interconnectedness of the financial system. We focus on the second aspect and show that post-Lehman there has been a significant decline in the interconnectedness in th...
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| Main Author: | |
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| Corporate Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Place of publication not identified] :
International Monetary Fund,
2012.
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| Series: | IMF working paper ;
WP/12/179. |
| Subjects: | |
| Online Access: | CONNECT |
Table of Contents:
- Cover; Contents; I. Introduction; Figures; 1. Deleveraging Components: Balance Sheet Shrinkage and Reduced Interconnectedness; II. Deleveraging From 2007-2011; 2. Average cost of Borrowing for the Real Economy (Relevant US and Europe Indices); 3. Post-Lehman, Borrowing Cost For Financials Are Higher than Non-Financials; Tables; 1. Securities Lending, 2007-2011; Box; 1. Are There Any Other Buckets That Are Sources for Pledged Collateral?; 4. Pledged Collateral, 2011-Typical Sources and Uses; 5. Pledged Collateral that can be Re-used with Large European and U.S. Banks.
- 2. Source of Pledged Collateral, Velocity and Overall Collateral6. Pledged Collateral, 2007-2011: Typical Sources and Uses (Summary); III. Collateral Velocity Factor and Monetary Policy; IV. Policy Issues; 7. Overall Financial Lubrication: M2 and Pledged Collateral; Annex; 1. Deleveraging Components
- Balance Sheet and Interconnectedness; 2. Hedge Fund Borrowing from Prime Brokers; References.
