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SystemicRiskReferences4
| Reference | Title | Link |
| Cetorelli, N. (2015) | Asset Managers and Systemic Risk. A Financial Intermediation Perspective | here |
Takeaways (paraphrased)
"Presentation is not a statement on systemic significance by any specific firm but a conceptual contribution. It suggests that industry analysis through “traditional lenses” may be inadequate.
Most asset management firms fit traditional mould
But outliers matter most for systemic considerations
You do not need to be a bank to be an intermediary. Asset management firms may turn into hybrid intermediaries
Systemic risks by bank intermediaries are well understood. The corresponding insights are valuable for understanding the potential systemic-ness of non-bank entities. Applicable policy tools are also understood" |
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