This paper evaluates the effect of Chinese monetary policy shocks on credit creation through the shadow banking sector … projection was then estimated, using the surprise measure as an instrument. The results give two key findings: 1) shadow credit …

Foreign currency loans to the unhedged non-banking sector are remarkably prevalent in Europe and create a significant … exchange-rate-induced credit risk to European banking sectors. In particular, Swiss franc (CHF)-denominated loans, popular in … that banks in Europe have continuously held more foreign-currency-denominated assets than liabilities, indicating their …

-affiliated, and low-leverage companies incline more towards this strategy. Credit rating, debt maturity, financial and interest …