Role of Non-bank Financial Intermediation PDF Download

Author: Min B. Shrestha
Publisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 134

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Author: Dimitri Vittas
Publisher:
ISBN:
Category :
Languages : en
Pages : 34

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Book Description
Non-bank financial intermediaries both complement and compete with commercial banks, forcing them to be more efficient and responsive to customers' needs. Especially, pension funds and other institutional investors that mobilize large long-term financial resources can act as countervailing forces to the dominant position of commercial banks. Non-bank financial intermediaries (NBFIs) comprise a mixed bag of institutions, ranging from leasing, factoring, and venture capital companies to various types of contractual savings and institutional investors (pension funds, insurance companies, and mutual funds). The common characteristic of these institutions is that they mobilize savings and facilitate the financing of different activities, but they do not accept deposits from the public.NBFIs play an important dual role in the financial system. They complement the role of commercial banks by filling gaps in their range of services. But they also compete with commercial banks and force them to be more efficient and responsive to the needs of their customers. Most NBFIs are also actively involved in the securities markets and in the mobilization and allocation of long-term financial resources. The state of development of NBFIs is usually a good indicator of the state of development of the financial system.Vittas focuses on contractual savings institutions, namely pension funds and life insurance companies, that are by far the most important NBFIs. He also offers a brief review of the role and growth of other NBFIs, such as leasing and factoring companies, as well as venture capital companies and mutual funds. Vittas covers developments in selected countries in different regions of the world. He also examines the recent growth of NBFIs, especially contractual savings institutions and securities markets, in Egypt. Vittas discusses the necessary regulatory and other policy reforms for promoting NBFIs - in particular, the openness to international markets and foreign presence that is essential for the transfer of skills and technologies.This paper - a product of the Development Research Group - is part of a larger effort in the group to study non-bank financial intermediation.

Author: Jeffrey Carmichael
Publisher: World Bank Publications
ISBN: 9780821348390
Category : Business & Economics
Languages : en
Pages : 252

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Book Description
This book aims to create an awareness of the potential of non-bank financial institutions (NBFIs) for developing countries, and to assist policy makers in the creation of coherent policy structures and effective regulatory systems for the development of these institutions. It considers the essential functions and characteristics of non-bank financial institutions and includes chapters on insurance companies, mutual funds and pension schemes, securities markets, and leasing and real estate companies.

Author: Tobias Adrian
Publisher: DIANE Publishing
ISBN: 1437930905
Category : Business & Economics
Languages : en
Pages : 35

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This is a print on demand edition of a hard to find publication. The financial crisis of 2007-09 highlighted the changing role of financial institutions and the growing importance of the ¿shadow banking system,¿ which grew out of the securitization of assets and the integration of banking with capital market developments. In a market-based financial system, banking and capital market developments are inseparable, and funding conditions are tied closely to fluctuations in the leverage of market-based financial intermediaries. This report describes the changing nature of financial intermediation in the market-based financial system, charts the course of the recent financial crisis, and outlines the policy responses that have been implemented by the Fed. Reserve and other central banks. Charts and tables.

Author: R. Kannan
Publisher: Springer
ISBN: 9811333750
Category : Business & Economics
Languages : en
Pages : 142

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Book Description
This book examines the trend and growth of non-banking financial companies (NBFCs), both from balance sheet and regulations view-points. It further investigates the role of NBFCs in furthering financial inclusion, last-mile delivery of credit and their contribution to financial sector. Since the Reserve Bank of India (RBI) formally recognised the NBFCs in India in 1964, they have increased significantly in terms of size, form and types of products and instruments. They have also managed their asset quality better than banks. Traditionally they were dependent on banks for funds, but after the global financial crisis they began to tap the capital market. Concomitantly, the RBI regulations have closed the fault lines and tightened rules. The book assesses whether NBFCs in India should be treated as shadow banks, discusses how to achieve the right amount of regulation and safeguards without unduly stifling the NBFC sector, and studies the funding opportunities and challenges of NBFCs in India. As such, it serves as a basic reference for students in finance, and a valuable tool for professionals such as policymakers and investment analysts and other stakeholders in the finance area.

Author: David Goacher
Publisher: Routledge
ISBN: 1351337831
Category : Business & Economics
Languages : en
Pages : 355

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Book Description
Originally published in 1987, British Non-Bank Financial Intermediaries the book is the diversification of and overlaps in the operations of UK financial intermediaries forms. The book provides a coherent analysis of the broader implications of ongoing developments in the financial services sector and an insight into the ‘back-room activities of the non-bank institutions. The book also focuses on institutions offering some form of financial markets, within which many of the financial intermediaries operate. In doing this, the book outlines a theoretical framework of financial intermediation and provides an overview of the broader evolution of the UK financial system. This volume will be of use to students and practitioners studying in the financial services sector.

Author: Dimitri Vittas
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 44

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Author: Anjan V. Thakor
Publisher: Elsevier Science
ISBN: 9780444515582
Category : Business & Economics
Languages : en
Pages : 577

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Book Description
The growth of financial intermediation research has yielded a host of questions that have pushed "design" issues to the fore even as the boundary between financial intermediation and corporate finance has blurred. This volume presents review articles on six major topics that are connected by information-theoretic tools and characterized by valuable perspectives and important questions for future research. Touching upon a wide range of issues pertaining to the designs of securities, institutions, trading mechanisms and markets, industry structure, and regulation, this volume will encourage bold new efforts to shape financial intermediaries in the future. * Original review articles offer valuable perspectives on research issues appearing in top journals * Twenty articles are grouped by six major topics, together defining the leading research edge of financial intermediation * Corporate finance researchers will find affinities in the tools, methods, and conclusions featured in these articles

Author: Allieu Kabia
Publisher:
ISBN:
Category :
Languages : en
Pages : 36

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In the past, little or no attention was directed to the informal sector in the development agenda in Sierra Leone. The inability of the formal sector to absorb all the available resources in the country has led to the rapid growth of the neglected informal sector. The aim of this research is to assess and evaluate the role played by the National Cooperative Development Bank as a Non-Bank Financial Microfinance Institution in providing financial services to class of economically poor people in the Western Area whom hitherto were been neglected by the formal sector. A sample of 30 “Barrays” with each constituting 5 members totaling to 150 respondents were thoroughly investigated 2001 to 2005. The OLS econometrics estimation technique was used to analyse the data employing a Probit Regression model. The result reveals that the probability of access to credit is increased if the individual is a; trader, self employed, widow and with increases in the initial amount deposited which was used as a proxy variable for cash collateral. However, the probability of access to credit is reduced if the individual"s education is primary. The Probability value of the Wald Test(chi^2=0.0991) also indicates that the overall regression is significant at 10%.The research has proven that NCDB is vital and this understanding is important for academics and policy makers in shaping the future performance of the Non-Bank Financial Institutions.

Author: Tobias Adrian
Publisher: International Monetary Fund
ISBN: 1484343883
Category : Business & Economics
Languages : en
Pages : 47

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Book Description
Variants of nonbank credit intermediation differ greatly. We provide a conceptual framework to help distinguish various characteristics—structural features, economic motivations, and risk implications—associated with different forms of nonbank credit intermediation. Anchored by this framework, we take stock of the evolution of shadow banking and the extent of its transformation into market-based finance since the global financial crisis. In light of the substantial regulatory and supervisory responses of recent years, we highlight key areas of progress while drawing attention to elements where work still needs to be done. Case studies of policy challenges arising in different jurisdictions are also discussed. While many of the amplification forces that were at play during the global financial crisis have diminished, the post-crisis reform agenda is not yet complete, and policy makers must remain attentive to new challenges looming on the horizon.