In more than 130 years, the cooperative banks and rural banks, have become a best practice, widespread in all the … Italian regions so as to become, through Federcasse, a federal system included among the 130 European banks, referents ECB. A … model that today has about 400 local banks and that, discounting the guiding principles, interprets the function as a …

When banks are faced with a funding shortage in money market wholesale funding, they partly substitute by tapping other … implications, which go beyond the balance sheets of banks affected by the funding shortage. Banks which are forced to seek … alternative funding sources ("affected" banks) crowd out other initially unaffected banks, which pay substantially more to retain …

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 …

freeze. A change in the volatility of reserve flows, which is more likely when central banks tighten monetary policy, may …