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Federal Reserve Bank of Philadelphia
Business Review
Shadow banking and the crisis of 2007-08
Daniel R. Sanches

In recent decades, institutions that function much like traditional banks have grown outside regulatory oversight. Yet, as Daniel Sanches explains, these so-called shadow banks are as vulnerable to runs as regular banks. Because banking crises can inflict lasting economic harm, economists are interested in tracing how the panic ensued in the shadow system.

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Daniel R. Sanches, "Shadow banking and the crisis of 2007-08" , Federal Reserve Bank of Philadelphia, Business Review, issue Q2, pages 7-14, 2014.
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Keywords: Banking; Financial Crisis; Shadow banks
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