Enhancing Monitoring of NBFI Exposure: The Case of Open-End Funds

Nicola Cetorelli and Debashish Sarkar

No 20230418a, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Non-bank financial institutions (NBFIs) have grown steadily over the last two decades, becoming important providers of financial intermediation services. As NBFIs naturally interact with banking institutions in many markets and provide a wide range of services, banks may develop significant direct exposures stemming from these counterparty relationships. However, banks may be also exposed to NBFIs indirectly, simply by virtue of commonality in asset holdings. This post and its companion piece focus on this indirect form of exposure and propose ways to identify and quantify such vulnerabilities.

Keywords: banks; nonbanks; nonbank financial institutions (NBFIs); supervision (search for similar items in EconPapers)
JEL-codes: G1 G2 (search for similar items in EconPapers)
Date: 2023-04-18
New Economics Papers: this item is included in nep-ban
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