Remarks at the 2011 Bretton Woods Committee International Council Meeting, Washington, D.C.>

Remarks at the 2011 Bretton Woods Committee International Council Meeting, Washington, D.C.>

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...