Federal Reserve Bank of New York Staff Reports Shadow Banking Zoltan Pozsar Tobias Adrian Adam Ashcraft Hayley Boesky Staff Report no. 458 July 2010 This paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors
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Shadow Banking CEPR‚ October 4‚ 2010 Tobias Adrian‚ FRBNY* with Zoltan Pozsar‚ Adam Ashcraft‚ Hayley Boesky *The views expressed in this presentation are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System. What Are Shadow Banks? • Shadow banks are financial entities that conduct either all three or any one of the classic bank functions: 1. credit transformation‚ 2. maturity transformation‚ 3. liquidity
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Shadow Banking System and its role in the global financial crisis What is shadow banking system Shadow Banking System (SBS) refers to a collection of financial entities‚ infrastructures and practices which support financial transactions but beyond the regulation and monitor from the government or official regulators. Some financial institutions‚ like investment banks‚ may conduct some their transactions in the shadow banking system‚ but they are not SBS institutions themselves. The term was
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the description itself? In the case of the movie “Black Swan”‚ released in 2010‚ director Darren Aronfsky crafted the deeply troubling‚ driven protagonist-ballet dancer‚ Nina played by Natalie Portman‚ Nina competes for the main role as the Swan Queen and hopes to perform as a perfect ballerina. For the role‚ Nina must represent two entirely different personalities for each character; the pure‚ innocent white swan‚ and the seductive‚ black swan. Nina grows
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The Shadow of Hate The documentary remarks on the origins of race and how it has affected history and its people. There has been a history of intolerance in America against the “them”‚ the others. “Them”‚ being the different‚ the unknown. It is clear that people are afraid of the unknown because of the uncertainty it brings thus they immediately label anything different as “them”. The ultimate concept I was able to derive from the documentary was that race is an idea created by society to further
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In The Shadow of Man Although the distance between Jane and the chimpanzees was too far for her to make any detailed observations‚ she still was not able to get any closer than 500 yards before the chimps fled during her first few months at the Gombe Stream Reserve. She still got up before dawn every morning to make way to the peak‚ where she sat for most of the day waiting for a group of chimps to pass for her to watch with her binoculars. This depressed Jane‚ how could they receive more funding
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In Darren Aronofsky’s (2010) film‚ Black Swan‚ a ballet dancer experiences significant difficulty in adjusting to fulfill the dual role of the white swan. In order to achieve this role‚ Nina must traverse the dual relationship between the innocence of the white swan and the seductive black swan. In Nina’s desire to reach this goal‚ she experiences a major transformation in herself that reflects the transition from the white and black swan in the ballet. This paper in particular will focus Nina’s
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History 150 – Final Project The Shadow of the Titanic April 30‚ 2013 By Sarah Kohar The book “The Shadow of the Titanic” describes a chilling cold truth to the tragedy of the sinking. As the Titanic was sliding underneath the ocean at 2:20am on April 15‚ 1912‚ the noise of the cries of those drowning with the boat will haunt the survivors from the water and in the lifeboats for the rest of their lives. (Wilson) One survivor described the noise like a gigantic swarm of bees. Another person
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Shadow Divers By: Kurson‚ Robert Shadow Divers by Robert Kurson is a true story of a few ordinary men risking everything to solve a World War II mystery‚ which even governments had not been able to budge. One is introduced to Bill Nagle at the start of the book. He is given a location of the mystery object from a fisherman. Nagle is the caption to the Seeker and had a feeling that this dive will be a life changer. So he meets with John Chatterton‚ the only man that he can trust on a dive
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The plot of Black Swan revolves around a production of the ballet Swan Lake but with a twist. The ballet requires someone who can play the parts of both the White Swan and the Black Swan. The White Swan is more innocent and gentle‚ while the Black Swan is portrayed as dark and seductive. Nina Sayers‚ a ballerina in New York City‚ auditions for the part of the Swan Queen. While she perfectly fits the part of the White Swan‚ Nina struggles to portray the Black Swan and its dark characteristics. She
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