The New Finance: Regulation and Financial Stability
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Revolutionary changes, including the shrinking of traditional banking and the expansion of trading in foreign securities, have recently rocked financial markets.
Preface1Introduction12Banking and Financial Intermediation43The Decline of Traditional Banking, and the Rise of Nonbank Financial Intermediaries104Alternative Views of the Decline of Banking: Public Policy Implications605Mutual Funds and Financial Stability736The Changing Structure of Financial Intermediation and the Effectiveness of Monetary Policy1007OTC Derivatives Markets and Financial Fragility1208Financial Regulation for the 21st Century: Proposals for Reforming Bank Regulation1489Conclusion177Notes183Bibliography199Index211About the Author221
