IMF researchers label asset managers collateral ‘mines’

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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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