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Leverage? What Leverage? A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis (PDF Download)

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Title:
Leverage? What Leverage? A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis (PDF Download)
Author: Bayoumi, Tamim ; Bhatia, Ashok Vir
Subjects: Banks ; Borrowing ; Consumer credit ; Credit expansion ; Financial crises ; Financial instruments ; Financial leverage ; Financial sector ; Global Financial Crisis, 2008-2009
Description: This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment banks was the fatal link between the collapse of structured finance and the global malfunction of funding markets that turbocharged the downdraft; and, second, that this insight (and others) can be decrypted from the Flow of Funds Accounts of the United States.
Publisher: Washington DC: INTERNATIONAL MONETARY FUND
Creation Date: 2012
Format: 22
Language: English
Identifier: ISBN: 9781475545128
ISBN: 9781475504712
ISBN: 9781475597608
ISBN: 1475597606
ISBN: 1475504713
ISBN: 1475545126
EISBN: 1475597606
EISBN: 9781475597608
OCLC: 796678874
Source: Ebook Central Academic Complete
International Monetary Fund (IMF)
IMF Books & Analytical Papers

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