Kristin Forbes, Christian Friedrich and Dennis Reinhardt Recent episodes of financial stress, including the ‘dash for cash’ at the onset of the Covid-19 (Covid) pandemic, pressure in the UK’s liability-driven investment funds in 2022, and the collapse of Silicon Valley Bank in 2023, were stark reminders of the vulnerability of financial institutions to shocks that … Continue reading Funding structures and resilience to shocks after a decade of regulatory reform
non-bank financial institutions
Naoto Takemoto, Simon Jurkatis and Nicholas Vause In less than two decades, the system of market-based finance (MBF) – which involves mainly non-bank financial institutions (NBFIs) providing credit to the economy through bonds rather than loans – has both mitigated and amplified the economic effects of financial crises. It mitigated effects after the global financial … Continue reading Strengthening the resilience of market-based finance