---
title: High public debt, NBFIs and the risk of market dysfunction
url: https://www.ml-quant.com/papers/repec/bis-bisblt-136/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-16
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:bis:bisblt:136
source_url: https://econpapers.repec.org/RePEc:bis:bisblt:136
featured: 2026-10-16
citations: unknown
topic: Risk, Credit & Banking
---


# High public debt, NBFIs and the risk of market dysfunction

The analysis finds high public debt and growing non-bank footprint increase the risk of market dysfunction in government debt markets while making very favorable conditions more likely.

- Source: https://econpapers.repec.org/RePEc:bis:bisblt:136
- Identifier: RePEc:bis:bisblt:136
- Released: 2026-10-10
- First featured: Quant Letter No. 135 (2026-10-16): https://www.ml-quant.com/issues/2026-10-16/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Risk, Credit & Banking
- Authors: Mathias Drehmann, Sonya Zhu

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