intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial … crisis. Shadow banks are financial intermediaries that conduct maturity, credit, and liquidity transformation without … of shadow banks, discusses the banks’ economic roles, and analyzes their relation to the traditional banking system. The …

intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial … crisis. Shadow banks are financial intermediaries that conduct maturity, credit, and liquidity transformation without … of shadow banks, discusses the banks' economic roles, and analyzes their relation to the traditional banking system. The …

Shadow banks conduct credit intermediation without direct, explicit access to public sources of liquidity and credit … guarantees. Shadow banks contributed to the credit boom in the early 2000s and collapsed during the financial crisis of 2007 …

Shadow banks conduct credit intermediation without direct, explicit access to public sources of liquidity and credit … guarantees. Shadow banks contributed to the credit boom in the early 2000s and collapsed during the financial crisis of 2007 …

shock to the level of banks’ solvency risk is followed by lower short-term debt. Conversely, higher short-term debt Granger …