Aradillas Fernandez, Hiti, and Sarkar provide a quantitative assessment of systemic risk in the nonbank financial sector.| Liberty Street Economics
The authors consider the systemic implications of the observed build-up of bank-NBFI connections associated with the growth of NBFIs.| Liberty Street Economics
Asani Sarkar is a financial research advisor in Financial Intermediation. He is working on issues related to credit intermediation by banks and nonbanks, and financial stability of nonbanks and stablecoins. His paper “Stigma in Financial Markets: Evidence from Liquidity Auctions and Discount Window Borrowing During the Crisis” received the Western Finance Association Pearson Award for the best paper on Financial Institutions and Markets in 2011. Dr. Sarkar’s papers have appeared in many...| www.newyorkfed.org