# Banks

`kaal:entity:banks`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `banks`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2017 to 2021.

**2017**

- [3002908-021](https://wulfkaal.github.io/claims/3002908-021) [empirical/asserted] -- Consistent with market fragmentation and disintermediation, smaller private investment fund managers have begun to erode the power of established market institutions such as banks and insurance companies.
  > Moreover, consistenly with the general trends of market fragmentation and disintermediation, smaller private investment fund managers started to erode the power of established market institutions such as banks and insurance companies.
  Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

**2021**

- [3936876-009](https://wulfkaal.github.io/claims/3936876-009) [empirical/evidenced] -- Traditional custody has become highly concentrated, with four large banks holding roughly $114 trillion in assets under custody at the end of the first quarter of 2018, and barriers to entry make it likely that this concentration continues.
  > At the end of the first quarter of 2018, these four banks had approximately $114 trillion in assets under custody.48 Recent trends suggest this highly concentrated model will continue, as ongoing barriers to entry have prevented other firms from challenging these incumbents.
  Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/banks.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.