particularly rich and well developed credit market for SMEs in Germany. We estimate asset correlations as the key measure of …

We investigate how the lending activities of a multinational bank’s affiliates located abroad are affected by funding … a disadvantage in the crisis, as inter-bank and capital markets froze. Besides, the more an affiliate abroad takes … recourse to intra-bank funding in the crisis, the more it becomes dependent on a stable deposit and long-term wholesale funding …