In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of …. We argue instead that NBFI and bank businesses and risks are so interwoven that they are better described as having … contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) Empirical work confirms bank-NBFI linkages …

The U.S. bank stress tests aim to improve financial system stability. However, they may also affect bank credit supply …

We provide evidence consistent with a “credit-line drawdown channel” to explain the large and persistent crash of bank … lending, even after stabilization policies and even if drawdowns were accompanied by deposit inflows. Bank provision of credit … incorporated tractably into bank capital stress tests …

of central bank balance sheets involves tradeoffs between monetary policy and financial stability …

widespread stress, with adverse affects on bank intermediation thereafter. We discuss the bank capital and the bank funding … conclude by discussing the increasing extension of bank credit lines to non-bank financial intermediaries, as well as the role …

protection selling in CDS, the effect being weaker when sovereign risk is high. Bank and country risk variables are mostly not … building a complete picture and understanding fully the economic drivers of the bank-sovereign nexus of risk …