Nárust stínového bankovnictví

Dovicová, Michaela

i Abstract Recent financial crisis resulting in global financial instability pointed at the importance of growing shadow banking. Shadow banking activities are gen- erally defined as banking-like activities outside of regulated banking. In this thesis, we study theoretical background of shadow banking, its regulation and supervision. Despite the data availability problem, a qualitative analysis is performed to estimate the volume of the European and the U.S. shadow bank- ing sectors from 2006 until 2013 Q2. European shadow banking system hit its bottom of EUR 8.3 trillion (19% of total European bank assets) in 2008 Q4. Nowadays, it equals to EUR 9.3 trillion (21% of total European bank assets). U.S. shadow banking sector attained its maximum of USD 20.7 trillion (163% of total U.S. bank assets) in 2008 Q1. Nowadays, it equals to USD 15.6 tril- lion which also equals to total U.S. bank assets. Moreover, we concentrate on Chinese money market funds and French and UK repo markets, since these represent an important part of shadow banking. Quantitative analysis studies relationships among traditional banking, shadow banking and economy itself in France and UK. Results show that if repo transactions, GDP and government debt increase, total bank assets increase. Furthermore, if money market fund assets decrease and...

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