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 …

financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level …, we build an econometric model with incidental truncation that jointly considers bank survival, the type of bank closure … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …

Bank distress was a defining feature of the Great Depression in the United States. Most banks, however, weathered the … aggregate commercial bank lending between 1929 and 1932, more than twice as much as attributed to the failure of banks … storm and remained in operation throughout the contraction. We show that surviving banks cut lending when depositors …