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Federal Reserve Bank of New York
Economic Policy Review
The evolution of banks and financial intermediation: framing the analysis
Nicola Cetorelli
Benjamin H. Mandel
Lindsay Mollineaux
Abstract

This is the introduction to a volume which explores the changing role of banks in the financial intermediation process. It accompanies a Liberty Street Blog series. Both discuss the complexity of the credit intermediation chain associated with securitization and note the growing participation of nonbank entities within it. These series also discuss implications for monitoring and rulemaking going forward. In the introduction, Nicola Cetorelli introduces the series and provides a preview of the topics covered. Additionally, he lays out the overarching theme of the volumeā€”the fact that banks continue to be major players in the modern credit intermediation system.


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Nicola Cetorelli & Benjamin H. Mandel & Lindsay Mollineaux, "The evolution of banks and financial intermediation: framing the analysis" , Federal Reserve Bank of New York, Economic Policy Review, issue Jul, pages 1-12, 2012.
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Keywords: Banks and banking - History ; Financial crises ; Intermediation (Finance) ; Credit ; Securities ; Banking structure ; Nonbank activities
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Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

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