Cerutti, Eugenio; Hale, Galina; Minoiu, Camelia - International Monetary Fund (IMF) - 2014
We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period....