of the less regulated, so-called shadow banking sector. Employing flow-of-funds data for the Euro Area's non-bank banking … increase in non-bank banking). Overall intermediation activity, hence, has remained roughly at the same level. Moreover, our … findings also suggest that non-bank banks have tended to take positions in riskier assets (particularly in equities). In line …

how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the …

We study the impact of increasingly negative central bank policy rates on banks' propensity to become undercapitalized …

We study the impact of increasingly negative central bank policy rates on banks' propensity to become undercapitalized …

The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small …- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based … on the Bankscope database, bank balance sheet data is utilized. Control variables are included, such as for the system of …