Reposted by Haonan Zhou
Non-bank lenders may be fair-weather friends - @haonanzhou.bsky.social column here on research here with @aldasoro.bsky.social and Sebastian Doerr of the BIS showing non-banks pull back more sharply after a crisis than banks www.ft.com/content/d4da...
ft.com
Non-bank lenders may be fair-weather friends
Research shows they don’t just retreat in a crisis — they run for the exit
