非银行金融机构与收益率曲线的斜率

FEDS Notes Pub Date : 2022-10-01 DOI:10.17016/2380-7172.3185

Sebastian Infante, Phillip J. Monin, Lubomir Petrasek, Mary H. Tian

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引用次数: 0

摘要

在本文中，我们研究了收益率曲线斜率的变化如何影响非银行金融机构(nbfi)提供的信贷和中介服务，包括经纪自营商和对冲基金。虽然这些非金融机构通常不直接向非金融部门提供贷款，但它们通过投资于债务证券和向拥有此类证券的投资者提供融资，间接支持信贷流动。

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Non-bank financial institutions and the slope of the yield curve

In this note, we examine how changes in the yield curve slope affect the provision of credit and intermediation services by non-bank financial institutions (NBFIs), including broker-dealers and hedge funds. Although these NBFIs typically do not lend directly to the non-financial sector, they indirectly support the flow of credit by investing in debt securities and extending financing to investors who own such securities.

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FEDS Notes

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