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China’s shadow banking sector: Arbitrage, window-dressing and wealth management products

Author

Listed:
  • Jinghan Cai
  • Alicia Garcia-Herrero
  • Le Xia

Abstract

We examine wealth management products (WMP) issued by Chinese commercial banks, which are an important part of China’s fast growing shadow banking sector. We document that the WMPs’ maturity dates cluster toward the end of a month and then decrease significantly at the beginning of the following month.

Suggested Citation

  • Jinghan Cai & Alicia Garcia-Herrero & Le Xia, 2015. "China’s shadow banking sector: Arbitrage, window-dressing and wealth management products," Working Papers 1530, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1530
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    References listed on IDEAS

    as
    1. Nicholas Borst, 2013. "Shadow Deposits as a Source of Financial Instability: Lessons from the American Experience for China," Policy Briefs PB13-14, Peterson Institute for International Economics.
    2. Wei Liao & Mr. Sampawende J Tapsoba, 2014. "China’s Monetary Policy and Interest Rate Liberalization: Lessons from International Experiences," IMF Working Papers 2014/075, International Monetary Fund.
    3. Tri Vi Dang & Honglin Wang & Aidan Yao, 2014. "Chinese Shadow Banking: Bank-Centric Misperceptions," Working Papers 222014, Hong Kong Institute for Monetary Research.
    4. Acharya, Viral V. & Khandwala, Hemal & Sabri Öncü, T., 2013. "The growth of a shadow banking system in emerging markets: Evidence from India," Journal of International Money and Finance, Elsevier, vol. 39(C), pages 207-230.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Torsten Ehlers & Steven Kong & Feng Zhu, 2018. "Mapping shadow banking in China: structure and dynamics," BIS Working Papers 701, Bank for International Settlements.
    2. Cai, Yu & Wang, Qing, 2022. "Money funds manage returns," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
    3. Guofeng Sun, 2019. "China's Shadow Banking: Bank's Shadow and Traditional Shadow Banking," BIS Working Papers 822, Bank for International Settlements.

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    More about this item

    Keywords

    Banks ; China ; Working Paper;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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