Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non-bank … regulatory agendas related to non-bank financial institutions …

. Although global bank lending is often reported to amplify the international credit cycle, we show that foreign banking acted as … credit market and in funding markets. The reduction in the supply of credit by Eurozone banks caused riskier borrowers to … a shock absorber that weathered the real consequences of the credit crunch in Europe …