HOLY SH*T: Europe’s Banks Are Acting Like It’s 2020 Again

There was an explosion, a record spike – and it’s not even close - in lending by European banks to European shadow banks in October and November. This spike in European bank lending wasn’t some newfound enthusiasm to take on risks. It was emergency lending, a shadow bank shadow bailout which was every bit the other side of the US$ repo tightness I’ve been telling you about. This surge in shadow bank borrowing in euros shows how widespread and global funding pressure has already been.  Eurodollar University's Money & Macro Analysis------------------------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To reserve your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------The Banker Explainer: Why the IMF fears contagion from lenders’ shadow bank exposurehttps://www.thebanker.com/content/0ec3d3f5-62bc-4aa1-8202-9cccb6ebc2a3Bloomberg Deutsche Bank Leads EU Lenders’ Exposure to Shadow Bankshttps://www.bloomberg.com/news/articles/2025-12-11/deutsche-bank-most-exposed-in-europe-to-shadow-banks-ubs-sayshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU