Exchange-Traded Funds (ETFs) are at the forefront of the shift from active to passive investment management styles. Hence, ETFs now represent a large swath of the financial asset landscape. To be sure, ETFs provide outstanding vehicles to express views across a wide range of asset classes. Yet, the Federal Reserve Bank of New York created a special Secondary Market Corporate Credit Facility (SMCCF) to purchase ETFs and some fear underlying systemic risks.
CFS recently conducted a survey of highly knowledgeable participants in academia, investment management and banking. The results were clear. More knowledge of ETFs and their impact on the financial system is vital.
The Center for Financial Stability ETF library represents a first step to support and publicize the most thoughtful research and ideas regarding the market structure, risks, and policy. The Library is divided into two sections 1) Analysis of Risks and Markets and 2) Policy and Regulation.
Access the ETF Library through the main menu on our homepage or www.centerforfinancialstability.org/ETFs.php.
We invite you to submit original pieces or material to be considered for posting to Brigitte Rudman at brudman@the-cfs.org
