In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of … banks. These two sectors are commonly viewed either as operating in parallel, performing different activities, or as … substitutes, performing substantially similar activities, with banks inside and NBFIs outside the perimeter of banking regulation …

Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as … a primary means of corporate borrowing. We review the existing body of research regarding the rationales for banks … repay credit lines are put options issued by banks, which are exercised by firms in a correlated manner during periods of …

We study a bank run in India in which private bank branches experience sudden and considerable loss of deposits that … seek safety in state-owned public sector banks (PSBs). We trace the consequences of this reallocation using granular data … on bank-firm relationships and branch balance sheets. The flight to safety is not a flight to quality. Lending shrinks …