-traditional bank activities, and yet others with non-bank lending. Regardless, most think of shadow banking as activities that can …, which require a private or public backstop to operate”. Backstops can come in the form of franchise value of a bank or …

Macroprudential policy is increasingly being implemented worldwide. Its effectiveness in influencing bank credit and … expected effects of macroprudential policies on bank credit, both for advanced economies and emerging market economies. Yet we …' effect on total credit. Quantity restrictions are particularly potent in constraining bank credit but also cause the …

Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies … and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in … particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to be associated with …

cutting back on their securitization activity but expanding loans to the Federal Home Loan Bank system …

. In terms of policy, regulators will need to consider the re-use of pledged collateral when defining bank leverage ratios …