The Banks-NBFIs connection

Since the Global Financial Crisis, Non-bank financial institutions (NBFIs) have overshadowed banks as main players in different financial activities. Corporate funding, cross-border flows, and the administration of financial assets increasingly rely on NFBIs. However, some research highlights that the role of banks remains pivotal, and instead of a replacement, the expansion of NBFIs is part of an intricate transformation of the banking system. As a result, research and policy debates on the differential role of these institutions are expanding. However, our understanding of how these complex relationships between financial institutions operate and their intrinsic differences remains limited.

This event, organised by the YSI Financial Stability Working Group and the Economics Department of the Leeds University Business School, aims to share the latest contributions, explore knowledge gaps, and discuss the future research agenda on the NBFI-Bank connection. The workshop will combine presentations by young and senior scholars on the roles, differences, and connections between these two groups of financial institutions from a critical economic perspective.

To apply, please submit an abstract (300-750 words) using the “Apply Now!” button before August 30th. Notification of acceptance and an invitation to submit the full paper will be sent in early September.

We welcome submissions of empirical and/or theoretical contributions related, but not limited, to:

• Transformation of Banking? – NBFIs and Banks: Substitutes, Complements or Vertical Disintegration?
• Shadow credit, bank credit, and money proper: Comparative analysis
• Analysis of corporate finance and corporate ownership by type different types of financial institutions
• Exposure, connections and spillovers between NFBIs and Banks
• Regulation and macroprudential policies for NFBIs and Banks
• International Financial Stability Implications of NFBIs and Banks

If you are selected, you will be invited to present your work and review a paper of another presenter. YSI will provide partial travel stipends and accommodation for some of the selected Young Scholars. The event will also be open to every scholar who wishes to attend.