U.S. bank holding companies (BHCs) have developed a very significant nonbank footprint over the years, adding thousands …

instead that NBFI and bank businesses and risks are so interwoven that they are better described as having transformed over … contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) empirical work confirms bank-NBFI linkages …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …