IMF paper dissects shadow banking bailouts

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A working paper published by the International Monetary Fund (IMF) on September 13 examines the continuing risk of taxpayer bailouts in the shadow banking system.

The author, Manmohan Singh, says governments provided pay-outs to a variety of financial institutions outside the regulatory sphere of the banking sector during the financial crisis.

The funding was given in the form of puts, which are the right to sell an item at a fixed price for a given period of time; effectively providing

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