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General Observations

  • Valerio Lemma
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

Under a regulatory approach, this chapter will address the questions about the definition of the shadow banking system and its basic elements.

Keywords

Monetary Policy Hedge Fund Money Laundering European Monetary Union Credit Institution 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 1.
    see Kelsen (1954) General Theory of the Law and the State (Cambridge—Milano), p. 116 ff.Google Scholar
  2. Hart (1961) The Concept of Law (tr. Cattaneo, ed. Torino, 1965), p. 126.Google Scholar
  3. 3.
    See Masera (2009) “La crisi globale: finanza, regolazione e vigilanza alla luce del rapporto de Larosiere,” Rivista Trimestrale di Diritto dell’economia, I, p. 147Google Scholar
  4. from a legal point of view, see Capriglione (2012) “Commento sub art. 5 d. lgs. 385/1993,” in Capriglione (ed.), Commentario al testo unico delle leggi in materia bancaria e creditizia (Padova), Vol. 1, p. 49 ff.Google Scholar
  5. 5.
    see FSB, Global Shadow Banking Monitoring Report 2013, November 14, 2013, p. 1.Google Scholar
  6. 11.
    See FSB, Strengthening Oversight and Regulation of Shadow Banking Policy Framework for Strengthening Oversight and Regulation of Shadow Banking Entities, August 29, 2013, p. i.Google Scholar
  7. 12.
    See Kodres (2013) “What is Shadow Banking?”, Finance & Development, Vol. 50, Issue 2, available at http://www.imf.org.Google Scholar
  8. 13.
    See Claessens, Pozsar, Ratnovski, and Singh (2012) Shadow Banking: Economics and Policy, edited by IMF Research Department, December 4, p. 3, where it is stated that “these functions can be economically useful, and need to be understood and properly regulated.”Google Scholar
  9. 20.
    See Tucker (2012) Shadow Banking: Thoughts for a Possible Policy Agenda, cit., where it is highlighted that “for other shadow banks, liquidity services are offered without such back-up lines.Google Scholar
  10. 25.
    See European Commission, Communication from the Commission to the Council and the European Parliament, Shadow Banking — Addressing New Sources of Risk in the Financial Sector, Brussels, September 4, 2013, COM(2013) 614 final.Google Scholar
  11. 31.
    See Lemma (2013) “The Derivatives of Italy,” Law and Economics Yearly Review, vol. 2, part. 2, p. 480 ff.Google Scholar
  12. 33.
    See Sinha (2013) Regulation of Shadow Banking — Issues and Challenge, February 1, available at http://www.rbi.org.in.Google Scholar
  13. 38.
    See Pozsar, Adrian, Ashcraft, and Boesky (2013) Federal Reserve Bank of New York Staff Reports — Shadow Banking, Federal Reserve Bank of New York Economic Policy Review, December 2013, p. 1.Google Scholar
  14. 39.
    See Pozsar, Adrian, Ashcraft, and Boesky (2013) Federal Reserve Bank of New York Staff Reports — Shadow Banking, cit., p. 1, where it is affirmed that “shadow banks conduct credit, maturity and liquidity transformation similar to traditional banks.Google Scholar
  15. 40.
    See Pozsar, Adrian, Ashcraft, and Boesky (2013) Federal Reserve Bank of New York Staff Reports — Shadow Banking, cit., p. 3 ff.Google Scholar
  16. 43.
    See Pozsar, Adrian, Ashcraft, and Boesky (2013) Federal Reserve Bank of New York Staff Reports — Shadow Banking, cit., p. 13.Google Scholar
  17. 47.
    see Hobsbawn (1997) Age of Extremes. The Short Twentieth Century (Milano, Italian edition.), p. 339 ff.Google Scholar
  18. 48.
    See Fitoussi and Laurent (2008) La nuova ecologia politica (Milano), p. 65 ff.Google Scholar
  19. 51.
    See EBA (2014) Why Do We Need a Single Rulebook?, available at http://www.eba.europa.eu, data accessed November 4.Google Scholar

Copyright information

© Valerio Lemma 2016

Authors and Affiliations

  • Valerio Lemma
    • 1
  1. 1.Marconi University of RomeItaly

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