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Liquidity Transformation Risks in U.S. Bank Loan and High-Yield Mutual Funds

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Abstract

Net assets in open-end (non-money market) mutual funds (MFs) have increased notably over the past decades.

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  • Kenechukwu E. Anadu & Fang Cai, 2019. "Liquidity Transformation Risks in U.S. Bank Loan and High-Yield Mutual Funds," FEDS Notes 2019-08-09, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2019-08-09
    DOI: 10.17016/2380-7172.2412
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    File URL: https://www.federalreserve.gov/econres/notes/feds-notes/liquidity-transformation-risks-in-US-bank-loan-and-high-yield-mutual-funds-20190809.htm
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    1. Kenechukwu E. Anadu & Mathias S. Kruttli & Patrick E. McCabe & Emilio Osambela, 2018. "The Shift from Active to Passive Investing : Potential Risks to Financial Stability?," Finance and Economics Discussion Series 2018-060r1, Board of Governors of the Federal Reserve System (U.S.), revised 29 Jun 2020.
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