-to Capital Markets Union must in no way weaken the classic bank loan and bypass the needs of companies. What is important in the …

This paper assesses European bank deleveraging and its impact on global credit conditions. Before the onset of the … international banks although European banks remain a dominant source of funding. "Good" bank deleveraging is still necessary from a … core component of this multi-year deleveraging process. Taken together, European bank deleveraging warrants close attention …

particular, high-MVC firms employ substantially more external finance on the margin. Linking firms to their main bank, we find … that shocks to bank finance affect firms' trade-offs and have real effects in high-MVC firms, making investment more …

This paper assesses European bank deleveraging and its impact on global credit conditions. Before the onset of the … international banks although European banks remain a dominant source of funding. "Good" bank deleveraging is still necessary from a … core component of this multi-year deleveraging process. Taken together, European bank deleveraging warrants close attention …

reform that took place in Italy in 2012, i.e. the introduction of ‘minibonds’, which opened a new market-based funding … opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … conditions for issuer firms, both at the firm-bank and firm level. We compare new loans granted to issuer firms with new loans …