Author (Corporate) | European Commission: DG Economic and Financial Affairs |
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Series Title | European Economy: Economic Papers |
Series Details | No.472, November 2012 |
Publication Date | November 2012 |
ISBN | 978-92-79-22993-0 |
ISSN | 1725-3187 |
EC | KC-AI-12-472-EN-N |
Content Type | Journal | Series | Blog, Report |
The study paper examines how non-bank financial institutions (in particular money market funds, private equity firms, hedge funds, pension funds and insurance undertakings, central counterparties, and UCITS and ETFs) have performed over the last decade and during the financial crisis. The report addresses the risks run by each of this type of institutions (credit, counterparty, liquidity, redemption, and fire sales risk), and highlights also the risks arising from a number of activities frequently undertaken by these institutions, in particular securitisation (a.o. agency risk), securities lending (a.o. counterparty risk) and repos (a.o. liquidity risk). The report finally provides a selected overview of approaches for the measurement of financial instability and financial distress. |
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Source Link | http://ec.europa.eu/economy_finance/publications/economic_paper/2012/ecp472_en.htm |
Countries / Regions | Europe |
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