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

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 …

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …

network. We estimate that the impairment of any of the five most active U.S. banks will result in significant spillovers to … other banks, with 38 percent of the network affected on average. The impact varies and can be larger on particular days and … in geographies with concentrated banking markets. When banks respond to uncertainty by liquidity hoarding, the potential …