US large bank CRE risks could be understated, say researchers

Community banks have the most direct exposure, but systemic banks extend more credit to REITs


Market participants and regulators may be understating the risk that commercial real estate (CRE) poses for the largest banks in the US, according to a paper by a team of academic researchers.

“Most people, when thinking about commercial real estate, only consider the risks associated with loans on banks’ balance sheets,” says Viral Acharya, a professor at New York University’s Stern School of Business, and a co-author of the paper, Shadow always touches the feet: implications of bank credit

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