01973cas a2200253 a 4500 AALejournalIMF011447 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463927233 1018-5941 BD-DhAAL BD-DhAAL Singh, Manmohan. The Nonbank-Bank Nexus and the Shadow Banking System / Manmohan Singh, Zoltan Pozsar. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (19 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The present way of thinking about financial intermediation does not fully incorporate the rise of asset managers as a major source of funding for banks through the shadow banking system. Asset managers are dominant sources of demand for non-M2 types of money and serve as source collateral ?mines' for the shadow banking system. Banks receive funding through the re-use of pledged collateral ?mined' from asset managers. Accounting for this, the size of the shadow banking system in the U.S. may be up to USD 25 trillion at year-end 2007 and USD 18 trillion at year-end 2010, higher than earlier estimates. In terms of policy, regulators will need to consider the re-use of pledged collateral when defining bank leverage ratios. Also, given asset managers' demand for non-M2 types of money, monitoring the shadow banking system will warrant closer attention well beyond the regulatory perimeter. Mode of access: Internet Pozsar, Zoltan. IMF Working Papers; Working Paper ; No. 2011/289 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/289/001.2011.issue-289-en.xml IMF e-Library