We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that allows for bank and nonbank financial intermediation. We posit economy-wide aggregate and sectoral disturbances to potentially drive bank and nonbank credit growth. We find that...

This study provides comparative perspectives on the current and prospective situation of financial market development in ASEAN, the PRC, and India, identifies key priorities for strengthening financial infrastructure to promote financial development and regional integration, and produces policy...

If the UK cannot secure a ‘Norway' deal and stay within the internal market after Brexit, the UK will lose passporting rights for EU financial services and access to euro clearing and settlement, both of which make London attractive as a financial centre. A substantial part of the UK's...

Federal and state laws allow U.S. financial conglomerates to own securities, insurance and depository institutions through a holding company structure. Before the recent crisis, the federal or state agency responsible for regulating a financial conglomerate as a whole was determined by what...

Due to the epidemiological situation, the structure and dynamics of financial performance in the banking sector have experienced changes. Amid declining margins, instability of financial markets and the unstable position of borrowers, the Russian credit institutions were forced to significantly...