Recession and sovereign debt crisis, many central banks have pursued ultra-easy and far reaching unconventional monetary …

independent of quality. On the intensive margin, however, GIPS-headquartered debtor banks suffer in the Lehman crisis, but effects … are stronger in the sovereign-debt crisis, especially for riskier banks. Nonstandard monetary policy improves interbank …

- border lending after the Lehman failure; for banks headquartered in periphery countries, the impact is quantitatively …

price-elastic investors, funds and banks. Comparing a security at the 90th percentile of the investor elasticity …, based on investors' holdings of eligible securities before the QE program was announced. We show that funds and banks sell …

dollar credit supply to non-US firms (relative to banks), mitigating the dollar credit reduction. This increase is stronger … funding, relative to banks. In sum, despite increased risk-taking by less regulated and more fragile nonbanks (relative to … banks), access to nonbank credit reduces the volatility in capital flows-and associated economic activity-stemming from US …

We show that nonbanks (funds, shadow banks, fintech) affect the transmission of monetary policy to output, prices and …, borrowerlender relationships and Gertler-Karadi monetary policy shocks. Higher policy rates shift credit supply from banks to …

Banks are compensated primarily through the net interest margin (NIM), which is the difference between the interest … environment that has persisted since the Great Recession, banks can no longer lower the short-term rates paid to their depositors …. The loan losses suffered by many banks due to the financial crisis, coupled with the low interest rate environment during …