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1 posts from "May 2025"
May 12, 2025

Who Finances Real Sector Lenders?

Nina Boyarchenko, Hyuntae Choi, and Leonardo Elias

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The modern financial system is complex, with funding flowing not just from the financial sector to the real sector but within the financial sector through an intricate network of financial claims. While much of our work focuses on understanding the end result of these flows—credit provided to the real sector—we explore in this post how accounting for interlinkages across the financial sector changes our perception of who finances credit to the real sector.

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Posted at 7:00 am in Banks, Credit, Nonbank (NBFI) | Permalink | Comments (0)

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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