12/6/19: Credit Markets vs Banks Loans: Europe vs US


Related to the earlier post on investment markets composition by intermediary (see: https://trueeconomics.blogspot.com/2019/06/12619-investment-intermediaries-europe.html), here is more evidence, via @jerrycap of the massive share of intermediated debt / banks dependency in European markets:

A caveat worth noting: European data includes the UK, where equity markets and hybrid financing are both more advanced than in the Continental Europe, which suggests that the share on non-bank share of debt markets is even smaller than the 25% currently estimated.