What Happens When Neither Monetary Policy Nor Macroprudential Regulation WorksVW Staff
Karen Shaw Petrou memorandum to Federal Financial Analytics clients on what happens when neither monetary policy nor macroprudential regulation works.
As our client alert indicated yesterday, the FSB is out with its 2014 shadow-banking tally: $36 trillion of which $14.2 trillion is right here at home. Those are some big numbers, but they actually under-count the transformation of financial markets since 2008 because the radical realignment of payment, settlement, and clearing since then doesn’t figure into this reckoning. Although every CEO knows how dramatically his or her challenges have changed over the past seven years, the . . .
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