Non-bank financial intermediaries and financial stability 149 the activities of banks and their
affiliated broker-dealers, demographic changes and greater importance of capital markets in …

This article reviews research and policy work on nonbank financial intermediation (NBFI),
taking a financial stability perspective. It first documents the growth in NBFI, reviews its …

Alongside other non-bank financial intermediaries, open-ended funds that invest in bonds ("
bond OEFs") have grown rapidly over the past two decades. Besides their size, their …

BIS Bulletins are written by staff members of the Bank for International Settlements, and from
time to time by other economists, and are published by the Bank. The papers are on subjects …

Non-US banks' on-balance sheet dollar liabilities rose in 2020 despite the decline in funding
from US and offshore money market funds (MMFs). Other non-bank financial institutions …

Money market funds (MMFs) are popular around the world, with over $9 trillion in assets
under management globally. From their origins in the 1970s, MMFs have operated in a …

Classifying all borrowers in about two thirds of the $9 trillion global money market fund
(MMF) market, we document that MMFs extend funding primarily to banks and governments …

This paper explores how the 2016 US Prime Money Market Funds (PMMFs) regulation
affected the crude oil market. This reform led to an increase in short-term dollar borrowing …

During the March 2020 market turmoil, euro area money-market funds (MMFs) experienced
significant outflows, reaching almost 8% of assets under management. This paper …

Abstract chapter 1: Prime money market funds (MMFs) frequently receive support from their
sponsors during periods of acute market stress. While sponsor support can help restore …