Chen, Mary; Lee, Seung Jung; Neuhann, Daniel; Saidi, Farzad - 2024
Bank deregulation in the form of the repeal of the Glass-Steagall Act facilitated the entry of non-bank lenders into … the market for syndicated loans during the pre-2008 credit boom. Institutional investors disproportionately purchase … conventional view that regulatory arbitrage caused the rise of non-bank lenders. …