The BIS on Eurodollars and Derivatives: Where Leverage Lives

From Bloomberg: 

This Is How Leverage in the Financial System Lives On
Rumors of leverage's death have been greatly exaggerated.

In
the aftermath of the 2008 financial crisis an abundance of leverage
— borrowed money used to amplify returns — was blamed for exacerbating
losses on subprime mortgages and contaminating the banking system
with catastrophic results. Since then a host of new