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The Asset Management Industry, Systemic Risk, and Macroprudential Policy

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In the aftermath of the 2007-2008 financial crisis, new legislation and regulations have pressured banks and insurance companies to reduce their size, leverage, and riskier lines of business in order to avoid another too-big-to-fail debacle. Nonbank financial intermediaries have naturally taken up some of that slack, and, not surprisingly, regulatory scrutiny has turned toward these intermediaries to evaluate whether they could pose similar risks to financial stability that banks did pre-crisis. This article explores whether there is a demonstrable link between the asset management industry and systemic risk.

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  • Lopez, Claude, 2017. "The Asset Management Industry, Systemic Risk, and Macroprudential Policy," Journal of Financial Transformation, Capco Institute, vol. 45, pages 121-128.
    • Handle: RePEc:ris:jofitr:1594
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    Keywords

    Asset management; systemic risk; macroprudential;
    All these keywords.

    JEL classification:

    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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