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The recent crisis highlighted the importance of globally active banks in linking markets. One channel for this linkage is the liquidity management of these banks, specifically the regular flow of funds between parent banks and their affiliates in diverse foreign markets. We use the Great...
Persistent link: https://www.econbiz.de/10013121120
As banking has become more globalized, so too have the consequences of shocks originating in home and host markets. Global banks can provide liquidity and risk-sharing opportunities to the host market in the event of adverse host-country shocks, but they can also have profound effects across...
Persistent link: https://www.econbiz.de/10013158192
Europe, Asia, and Latin America, isolating loan supply from loan demand effects. Loan supply in emerging markets across … Europe, Asia, and Latin America was affected significantly through three separate channels: 1) a contraction in direct, cross … interbank, cross-border lending. Policy interventions, such as the Vienna Initiative introduced in Europe, influenced the …
Persistent link: https://www.econbiz.de/10013143481
Foreign banks pulled significant funding from their U.S. branches during the Great Recession. We estimate that the average-sized branch experienced a 12 percent net internal fund “withdrawal,” with the fund transfer disproportionately bigger for larger branches. This internal shock to the...
Persistent link: https://www.econbiz.de/10013110969
Network, established in 2012, brings together researchers from around the world with access to micro-level data on individual …
Persistent link: https://www.econbiz.de/10013053332
Network (IBRN), established in 2012, brings together researchers from around the world with access to micro-data on individual …
Persistent link: https://www.econbiz.de/10012988740
Building on the facility design and application experience from the period of the global financial crisis, in March 2020 the Federal Reserve eased the terms on its standing swap lines in collaboration with other central banks, reactivated temporary swap agreements, and then introduced the new...
Persistent link: https://www.econbiz.de/10013211409
We adapt a theoretical model from the goods trade literature to test whether banks with a comparative cost advantage are more likely to enter foreign markets by means of foreign direct investment. We combine detailed proprietary bank-level data on the international activities of all German banks...
Persistent link: https://www.econbiz.de/10012988753
We study the macroeconomic consequences of the money market tensions associated with the financial crisis in the euro area. In a structural VAR, we identify a liquidity shock rooted in the interbank market and use its impulse response functions to calibrate key parameters of a Smets and Wouters...
Persistent link: https://www.econbiz.de/10012930940
There is often speculation that the international roles of currencies may be changing. This paper presents the current status of these roles. The U.S. dollar continues to be the dominant currency across various uses. Yet, such a role may change over time. If this occurs, there could be...
Persistent link: https://www.econbiz.de/10013119501