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Despite the role of shadow banking in the building up of the 2008 international financial crisis, the massive size of this sector, its cross-border nature, and the risks it entails for financial stability, the post-crisis regulation of shadow banking has remained rather feeble. Why?The Perils of International Regime Complexity in Shadow Banking identifies a 'game of shadows', which unfolded recursively concerning the definition, monitoring, and regulation of shadow banking internationally. Thus, states, regulators, and private actors tended to cast light away from various parts of the shadow banking system - shadow banking was (re)fined over time, its measurement was narrowed down, lessening the (perceived) need for regulation.The playing out of such a game was facilitated by the international architecture for shadow banking governance, which is a 'regime complex' characterized by the presence of multiple institutions and elemental regimes governing a set of related issues. Indeed, shadow banking is a quintessential case for demonstrating the perils of international regime complexity, which magnifies problems that are endemic in governing global finance - namely, interstate competition, disagreement between technocratic bodies, and the power of the financial industry - while splintering solutions, due to the fragmentation of regulatory authority.Empirically, this book examines various elemental regimes concerning different aspects of shadow banking, namely: international standards for defining, measuring, and monitoring global shadow banking; international standards for shadow banking entities, including money market funds, hedge funds, and investment funds; international standards for shadow banking activities, such as securitization, securities lending, and repos; international standards for bank capital exposures to shadow banking.

Nonbank financial institutions --- Financial institutions, International --- International economic relations

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Financial institutions --- Political aspects --- Moral and ethical aspects --- London (England) --- Economic conditions. --- Financial institutions, International --- Liberalism --- Pressure groups --- Libertarianism --- European Union

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Banks and banking, International. --- Banks and banking. --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- International banking --- Offshore banking (Finance) --- Transnational banking --- Financial institutions, International --- International finance

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Despite the role of shadow banking in the building up of the 2008 international financial crisis, the massive size of this sector, its cross-border nature, and the risks it entails for financial stability, the post-crisis regulation of shadow banking has remained rather feeble. Why? This book identifies a 'game of shadows', which unfolded recursively concerning the definition, monitoring, and regulation of shadow banking internationally. Thus, states, regulators, and private actors tended to cast light away from various parts of the shadow banking system-shadow banking was (re)fined over time, its measurement was narrowed down, lessening the (perceived) need for regulation. The playing out of such a game was facilitated by the international architecture for shadow banking governance, which is a 'regime complex' characterized by the presence of multiple institutions and elemental regimes governing a set of related issues. Indeed, shadow banking is a quintessential case for demonstrating the perils of international regime complexity, which magnifies problems that are endemic in governing global finance-namely, interstate competition, disagreement between technocratic bodies, and the power of the financial industry-while splintering solutions, due to the fragmentation of regulatory authority. Empirically, this book examines various elemental regimes concerning different aspects of shadow banking, namely: international standards for defining, measuring, and monitoring global shadow banking; international standards for shadow banking entities, including money market funds, hedge funds, and investment funds; international standards for shadow banking activities, such as securitization, securities lending, and repos; international standards for bank capital exposures to shadow banking.

Financial institutions, International. --- International economic relations. --- Nonbank financial institutions --- Law and legislation. --- Financial institutions, International --- International economic relations --- Law and legislation --- Banking law --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- International relations --- Economic sanctions --- International financial institutions --- International finance --- Limited service banks --- Nonbank banks --- Nonbanks --- Shadow banking --- Shadow banks --- Banks and banking

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Banks and banking, International. --- Asian Infrastructure Investment Bank. --- Asia. --- International banking --- Offshore banking (Finance) --- Transnational banking --- Financial institutions, International --- International finance --- AIIB (Asian Infrastructure Investment Bank) --- Ajia Infura Tōshi Ginkō --- Ya Zhou ji chu she shi tou zi yin hang --- Ya tou hang (Development bank) --- Asian and Pacific Council countries --- Eastern Hemisphere --- Eurasia