... Licensed re-use rights only Shadow banking Default Non-performing loans This paper aims to document the relationship between shadow banking activity prevailing in the country – broadly defined as credit intermediation outside the traditional banking system – and the non-performing loans...

...; and to avoid or minimise the negative consequences and costs for other market participants, market infrastructures, and taxpayers. Second, EMIR requires CCPs to maintain a pre-funded default fund to cover exposures that exceed the losses that can be covered with the collected margins. Clearing members...