After the Great Financial Crisis of 2007-2008, macroprudential policy has increasingly become the mainstream. New institutions and regulations were introduced for macroprudential supervision in the EU Member States as well as at the supranational level. This leads us to the research question:...

The U.S. tri‐party repo market is one of the most active and liquid in global capital markets. Even more specialized than traditional repo, tri‐party repo has often operated in the shadows of global finance. The U.S. Federal Reserve, however, has helped make this market more transparent and...

This study examines the effect of reducing information processing costs on U.S. state regulators who supervise mortgage companies (i.e., “shadow banks”). State regulators traditionally disclosed enforcement actions against mortgage companies only on their individual websites. A centralized...

We provide an estimate of the size of the shadow banking sector in Europe. We compare it to the shadow banking sector in the U.S. and discuss potential extensions and open issues related to data availability as well as the inclusion of aspects of hedge funds activities and exchange-traded funds....