Design/methodology/approach: The research method used in the article is a critical analysis of the related literature on the basis of many studies and reports available on the market. Findings: The ...results of the literature review are the basis for statements about shadow banking in the financial sector. Other research should be devoted to the analysis of the stability of the financial system during the COVID-19 pandemic, because there will be many other factors that affect the functioning of banking or non-banking entities and also shape new directions of their development. Research limitations/implications: The review was limited to reports of the National Bank of Poland, the Polish Financial Supervision Authority and the Central Statistical Office (now Statistics Poland) only due to the necessity to standardize the sources of publication of research results. Originality/value: Conclusions from the review may inspire others to undertake research in previously unexplored areas. They may also be a guide to ensure its best possible quality.
El fraude interno por banca paralela se tipifica en España como la captación ilegal de dinero por parte de empleados bancarios o de terceros. Los casos de banca paralela tienen un importante impacto ...económico, legal y reputacional sobre las entidades financieras. Los principales problemas para gestionar y conocer este riesgo son la confidencialidad y la falta de información y de estadísticas con profundidad histórica suficiente. Para solventar esta situación, este trabajo delimita el perfil del defraudador y las características temáticas del fraude. En función de estas características se proponen las técnicas y herramientas específicas para prevenir, detectar y mitigar este riesgo. Los mecanismos de prevención propuestos desarrollan un sistema de indicadores específicos y los correspondientes controles basados en la segregación de funciones. Igualmente, se plantean los requisitos para que los códigos éticos sean herramientas útiles en la lucha contra este fraude. La propuesta del programa de trabajo que se realiza para la detección incluye el análisis de las distintas fases de la investigación forense. Adicionalmente, se proponen nuevas líneas de investigación basadas en el análisis de las nuevas bases de datos de las entidades financieras y un cambio de enfoque en el supervisor financiero que aumente la transparencia en la gestión de este riesgo.
Cette thèse est la première tentative pour examiner empiriquement trois aspects différents liés au système bancaire parallèle. Nous cherchons à mieux comprendre le sujet de la finance de l'ombre.Le ...chapitre 1 se concentre sur la corrélation entre le système bancaire parallèle et les autres institutions financières ordinaires, principalement les banques, les compagnies d'assurance et les fonds de pension. Les résultats suggèrent que le système bancaire parallèle agit comme un complément et non comme un substitut à d'autres institutions financières régulières.Le chapitre 2 examine les déterminants des prêts bancaires parallèles. Ce chapitre étudie comment la réglementation et d'autres facteurs influencent le rôle du système bancaire parallèle dans l’offre de crédit. Les résultats de ce chapitre indiquent que le système bancaire parallèle n'est pas une réponse à une réglementation stricte.Le chapitre 3 montre qu'il y a un impact positif du système bancaire parallèle sur la stabilité et la rentabilité bancaires. Cependant, ces résultats sont inversés pendant les périodes de crise. Ces résultats indiquent que le système bancaire parallèle a un impact positif pendent les « bonnes » périodes et un impact négatif pendant les « mauvaises».
This PhD dissertation is the first attempt to empirically examine three different aspects related to the shadow banking system. We generally aim at providing a better understanding of the shadow banking topic.Chapter 1 focuses on the correlation between the shadow banking system and other regular financial institutions mainly banks, insurance companies, and pension funds. The results suggest that shadow banking system is acting as a complement and not a substitute to other regular financial systems.Chapter 2 examines the determinants of shadow banking loans. This study investigates how regulations and other factors impact the role of the shadow banking system in supplying credit. This chapter’s results indicate that shadow banking system is not an answer to high and severe regulations.Chapter 3 shows that there is a positive impact of the increased share of shadow banking system on banking stability and profitability. However, these results are inversed during crisis periods. These results indicate that shadow banking system makes good times better and bad time worse.
Title wol.: The role of institutions and the financial market in view of the objectives and principles of sustainable development
Tytuł wol.: Rola instytucji i rynku finansowego w świetle celów oraz ...zasad zrównoważonego rozwoju
This article describes the rise and fall of the parallel banking system based on securitisation. In essence, the parallel banking system emerged as a result of de-regulation and disintermediation, ...and led to a period of very high and, in retrospect, unsustainable, leverage. Its development was facilitated by the creation of new financial instruments (notably credit default swaps and collateralised debt obligations). Instead of keeping loans on their books, banks and other financial players were originating them, bundling them together, slicing into tranches, and selling these tranches to other investors, such as pension funds, insurers, etc., with different and complementary risk appetites. While this system supported the real economy for a long time – especially consumer, real estate, and leveraged finance – it contributed to the build-up of leverage in the global capital markets and subsequent worldwide crisis.
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