-and-repurchase (repo) contracts. Exemption from an automatic stay in bankruptcy enables financial intermediaries to raise greater liquidity … and induces entry of intermediaries with higher leverage during normal times. This liquidity creation occurs, however, at … aggregate risk …

The traditional model of bank-led financial intermediation, where banks issue demandable deposits to savers and make …, and discusses their implications for the financial system and regulation. We document that the balance sheet share of …% to 13%. Additionally, the share of loans as a percentage of bank assets has fallen from 70% to 55%. We develop a …

bank approval disparity is also larger in more racially biased counties. We conclude that insofar as automation by fintechs …

Bank branch density, defined as the number of bank branches to total deposits, has significantly declined over the past …

differences in "preferences and technologies." Large banks offer superior liquidity services but lower deposit rates, and locate … locations of large-bank branches have demographics typically associated with greater financial sophistication, large-bank …

Bank liquid asset holdings vary significantly across banks and through time. The determinants of liquid asset holdings …

contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) Empirical work confirms bank-NBFI linkages … regulation and are such that banks remain special as both routine and emergency liquidity providers to NBFIs. We support this …In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of …

Bank payout policy is strongly affected by regulation and politics, especially for the largest banks. Banks, but not … industrial firms, have consistently lower payouts in times of high regulation uncertainty and under democratic presidents. After … the Global Financial Crisis, bank regulators' influence on payout policies of the largest banks increases sharply and …