Fig 1.
Influencing factors of RFRs.
Fig 2.
The financial risk incentive theory.
Fig 3.
RFRs transmission channels.
Fig 4.
DNN model.
Fig 5.
(a) Macroeconomic operation risk EW index; (b) Regional economic risk EW index; (c) Regional financial institution risk EW index; (d) Financial legal supervision system risk EW index.
Fig 6.
(a) Economic risk index; (b) RFRs index.
Fig 7.
Economic pressure CI.
Fig 8.
Financial pressure CI.
Fig 9.
EW test of financial risks in different dimensions.
(a) Conversion probability of macroeconomic risk level; (b) Conversion probability of regional economic risk level; (c) Conversion probability of regional financial structure dimension.
Fig 10.
Conversion probability between different risk Cis.
Fig 11.
Fitting results of regional financial pressure index.
Fig 12.
Conversion probability of RFRs CI.