Researcher.
Educator.
Policy Advisor.
Sascha Steffen is the DWS Senior Chair in Finance and Professor of Finance at the Frankfurt School of Finance & Management.
Talks about: AI in Finance, Banks, Capital Markets, Private Capital
Our new paper, titled "Shadow Always Touches the Feet: Implications of Bank Credit Lines to Non-Bank Financial Intermediaries," uses REITs as a leading example to explore the implications of credit lines to non-bank financial institutions. We argue that while small and mid-sized banks are known to have direct exposure to CRE through term loans, large banks face substantial indirect exposure via credit lines provided to REITs.
Banks’ CRE Exposure
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