The Role of Bank Credit Enhancements in Securitization
As Nicola Cetorelli observes in his introductory post, securitization is a key element of the evolution from banking to shadow banking.
The Rise of the Originate-to-Distribute Model and the Role of Banks in Financial Intermediation
In yesterday’s post, Nicola Cetorelli argued that while financial intermediation has changed dramatically over the last two decades, banks have adapted and remained key players in the process of channeling funds between lenders and borrowers.
Introducing a Series on the Evolution of Banks and Financial Intermediation
It used to be simple: Asked how to describe financial intermediation, you would just mention the word “bank.”