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The Side Effects of Shadow Banking on Liquidity Provision

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Abstract

Over the past two decades, the growth of shadow banking has transformed the way the U.S. banking system funds corporations. In this post, we describe how this growth has affected both the term loan and credit line businesses, and how the changes have resulted in a reduction in the liquidity insurance provided to firms.

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  • Teodora Paligorova & João A. C. Santos, 2019. "The Side Effects of Shadow Banking on Liquidity Provision," Liberty Street Economics 20191113b, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87364
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    File URL: https://libertystreeteconomics.newyorkfed.org/2019/11/the-side-effects-of-shadow-banking-on-liquidity-provision.html
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    Cited by:

    1. Fulvia Fringuellotti & João A. C. Santos, 2021. "Insurance Companies and the Growth of Corporate Loan Securitization," Liberty Street Economics 20211013, Federal Reserve Bank of New York.
    2. Joao A. C. Santos & S. Vish Viswanathan, 2020. "Bank Syndicates and Liquidity Provision," NBER Working Papers 27701, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    liquidity; credit lines; term loans; shadow banks;
    All these keywords.

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