set of additional Tier 1 (AT1) CoCos issued by banks in the European Economic Area between 2014 and 2020. Following …

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 …

of financial relations between U.S. banks and Chilean firms after socialist Salvador Allende took office in 1970 …. Business reports and stock prices suggest that firms were mostly unaffected by having fewer links with U.S. banks. Substitution … of financial relations towards domestic banks appears to be the key mechanism explaining these findings. …

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 …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … overnight index swap. We have price data at the individual bank level and, unique to this paper, data on individual banks … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its …

puzzling observation from Turkish banking system. During 2015-2016, retail rates of Turkish banks displayed a persistent upward … deterioration in the structural liquidity positions of Turkish banks, reflected as rising loanto-deposit ratios (LDR). Our results … show that in the presence of increasing pressures from worsening funding quality, banks with high LDRs tried to attract …

important aspects closely related to NCM: the absence of banks and monetary aggregates from this theoretical framework, and the …