The Great Cross-Border Bank Deleveraging : Supply Constraints and Intra-Group Frictions /

International banks greatly reduced their direct cross-border and local affiliates' lending as the global financial crisis strained balance sheets, lowered borrower demand, and changed government policies. Using bilateral, lender-borrower countrydata and controlling for credit demand, we show t...

Ամբողջական նկարագրություն

Մատենագիտական մանրամասներ
Հիմնական հեղինակ: Cerutti, Eugenio
Այլ հեղինակներ: Claessens, Stijn
Ձևաչափ: Ամսագիր
Լեզու:English
Հրապարակվել է: Washington, D.C. : International Monetary Fund, 2014.
Շարք:IMF Working Papers; Working Paper ; No. 2014/180
Առցանց հասանելիություն:Full text available on IMF
Նկարագրություն
Ամփոփում:International banks greatly reduced their direct cross-border and local affiliates' lending as the global financial crisis strained balance sheets, lowered borrower demand, and changed government policies. Using bilateral, lender-borrower countrydata and controlling for credit demand, we show that reductions largely varied in line with markets' prior assessments of banks' vulnerabilities, with banks' financial statement variables and lender-borrower country characteristics playing minor roles. We find evidence that moving resources within banking groups became more restricted as drivers of reductions in direct cross-border loans differ from those for local affiliates' lending, especially for impaired banking systems. Home bias induced by government interventions, however, affected both equally.
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Ֆիզիկական նկարագրություն:1 online resource (38 pages)
Ձևաչափ:Mode of access: Internet
ISSN:1018-5941
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