The dash for cash and the liquidity multiplier: Lessons from March 2020 - speech by Anil Kashyap

Given at the London Business School, AQR Asset Management Institute Virtual Summit.
Published on 17 November 2020

Overview

Anil Kashyap looks at how the chains of entities that exist in the market-based finance system can contribute to problems during periods of stress. He says this was the case in March this year.

He focuses on the funding flows and linkages between different parts of the system - securities and derivatives dealers, asset managers, pension funds, insurers, and a wide range of investment funds and money market funds.

PDFThe dash for cash and the liquidity multiplier: Lessons from March 2020

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