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Bank Loans to NBFIs: Evidence of Specialization, Part I

Author

Listed:
  • Andrew Conroy
  • Pablo D'Erasmo

Abstract

Should we be worried about bank lending to nonbanks? That depends on the degree of specialization.

Suggested Citation

  • Andrew Conroy & Pablo D'Erasmo, 2026. "Bank Loans to NBFIs: Evidence of Specialization, Part I," Economic Insights, Federal Reserve Bank of Philadelphia, pages 1-10, March.
    • Handle: RePEc:fip:fedpei:102942
    as

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    File URL: https://www.philadelphiafed.org/-/media/FRBP/Assets/Economy/Articles/economic-insights/2026/March/bank-loans-to-NBFIs/part1/ei2026FebA.pdf
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    References listed on IDEAS

    as
    1. Erica Xuewei & Tarun Ramadorai, 2023. "Financing Competitors: Shadow Banks’ Funding and Mortgage Market Competition," The Review of Financial Studies, Society for Financial Studies, vol. 36(10), pages 3861-3905.
    2. James DiSalvo, 2024. "Banking Trends: Why Banks Finance Their Nonbank Competitors," Economic Insights, Federal Reserve Bank of Philadelphia, vol. 9(3), pages 15-21, September.
    3. José Fillat & Mattia Landoni & John Levin & J. Christina Wang, 2025. "Could the Growth of Private Credit Pose a Risk to Financial System Stability?," Current Policy Perspectives 25-8, Federal Reserve Bank of Boston.
    4. Acharya, Viral & Cetorelli, Nicola & Tuckman, Bruce, 2024. "Where Do Banks End and NBFIs Begin?," CEPR Discussion Papers 18939, Centre for Economic Policy Research.
    5. Kristian S. Blickle & Cecilia Parlatore & Anthony Saunders, 2021. "Specialization in Banking," Staff Reports 967, Federal Reserve Bank of New York.
    6. Jose M. Berrospide & Fang Cai & Siddhartha Lewis-Hayre & Filip Zikes, 2025. "Bank Lending to Private Credit: Size, Characteristics, and Financial Stability Implications," FEDS Notes 2025-05-23, Board of Governors of the Federal Reserve System (U.S.).
    Full references (including those not matched with items on IDEAS)

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