, second, heterogeneous beliefs about the aggregate risk, and third, the sponsoring of shadow banks by commercial banks …

We study a banking model in which regulatory arbitrage induces the existence of shadow banking next to regulated banks …. We show that the size of the shadow banking sector determines its stability. Panic-based runs become possible only if … this sector is large. Moreover, if regulated banks conduct shadow banking, a relatively larger shadow banking sector is …

We show that nonbanks (funds, shadow banks, fintech) reduce the effectiveness of tighter monetary policy on credit … since 1990s and Gertler-Karadi monetary policy shocks. Higher policy rates shift credit supply from banks to less …

compares the effects of competition and collaboration between banks and fintechs on stability and efficiency. Using a partial …-Miera and Repullo (2017), this paper shows that cooperation between banks and fintechs increases stability and efficiency …

collateralized debt. Covered bond issuance influences the incidence of bank runs by unsecured creditors and, in turn, conditions in …

-sector specific variables. We then analyze how uncertainty in banking affects lending by domestic and foreign-owned banks. We find … banks: Lending by banks which are better capitalized and have higher liquidity buffers tends to be affected less. Third …, foreign-owned banks do not react differently to uncertainty in the host country compared to domestically-owned banks. …

2014, the largest banks in the Euro Area are under the direct supervision of the European Central Bank (ECB). In this … listed European banks to measure each bank's contribution to systemic risk (SRISK) at the national and at the Euro Area level … heterogeneity both across countries and banks. Second, we explore the drivers of systemic risk. A bank s contribution to systemic …

the MLF. These results suggest that the option value of having access to the ECB's LLR varies significantly across banks …