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Lessons Learned: Zoltan Pozsar

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Abstract

While working as a senior trader and analyst with the Federal Reserve Bank of New York's Markets Group in 2008-11, Zoltan Pozsar became intrigued by the existence of a "shadow banking system" involving securitized assets. He dedicated himself to understanding the linkages of the then obscure and overlooked asset-backed securities (ABS) market and the role it played in keeping markets liquid and functioning. Pozsar's research laid the groundwork for the Term Asset-Backed Securities Loan Facility, or TALF, which was instrumental in restarting the flow of credit during the Global Financial Crisis. This "Lessons Learned" is based on an interview with Pozsar in September 2021.

Suggested Citation

  • Ward, Sandra, 2023. "Lessons Learned: Zoltan Pozsar," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 5(4), pages 40-42, July.
    • Handle: RePEc:ysm:ypfsfc:v:5:y:2023:i:4:p:40-42
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    File URL: https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1526&context=journal-of-financial-crises
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    Keywords

    Shadow banking system;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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