re-intermediation

And yes, the people who talk about the next new thing are talking about re-intermediation.

The process of re-intermediation has seen strong issuance by financials, particularly the major banks,' he added. '

Across national boarders, our economists expect to see a re-intermediation of banking systems, especially in the U.S., where there has been more market debt than bank debt.

Attempts to shift activity off balance sheet proved to be a chimera, as the financial turmoil forced re-intermediation of loans and credit risk onto the ... balance sheet.'

However, it cannot be excluded that the strong loan flows partly reflect the re-intermediation of some financing onto bank balance sheets given illiquidity in some segments of the asset-backed securities markets.

For the time being, however, there is still little evidence in the monetary data for such shifts since the rise in financial market volatility in early August, while it cannot be excluded that the flow of bank loans to the non-financial corporate sector in August partly reflects the re-intermediation of some financing onto bank balance sheets.