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|z 9781498354783
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|a 1018-5941
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|a Cerutti, Eugenio.
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|a The Great Cross-Border Bank Deleveraging :
|b Supply Constraints and Intra-Group Frictions /
|c Eugenio Cerutti, Stijn Claessens.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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|a 1 online resource (38 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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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|a Mode of access: Internet
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|a Claessens, Stijn.
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|a IMF Working Papers; Working Paper ;
|v No. 2014/180
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2014/180/001.2014.issue-180-en.xml
|z IMF e-Library
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