Nicola Cetorelli and Sakbeth Prazad write about banks and non-banks on the NY Fed’s Liberty Street blog  The traditional view of financial intermediation is that banks and nonbanks evolve independently. Banks are fundamentally depository institution that make loans and facilitate payments,...

Nicola Cetorelli and Sakbeth Prazad write about banks and non-banks on the NY Fed’s Liberty Street blog  The traditional view of financial intermediation is that banks and nonbanks evolve independently. Banks are fundamentally depository institution that make loans and facilitate payments, and their evolution remains anchored on these “core” activities. NBFIs, on the other hand, are seen as […]

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