Using a novel cross-European dataset on bank internationalization, the paper accounts for both organizational and geographic complexity and evaluates its impact on systemic risk and how both the 2008–09 global financial crisis and the 2010–11 European sovereign debt crisis might have...

The objectives of this paper are, first, to analyze whether banks' risk-taking can be explained by factors contributing to implicit guarantees and by factors associated with banks' business models. Second, it analyzes how risk-taking associated with these factors has changed from a period before...

Since the beginning of the financial crisis, multinational banks have been accused of being among the major causes of the financial system's destabilization. But the available empirical evidence on the relationship between international diversification, value creation and riskiness of financial...

We examine how U.S. monetary policy affects the international activities of U.S. Banks. We access a rarely studied US bank-level dataset to assess at a quarterly frequency how changes in the U.S. Federal funds rate (before the crisis) and quantitative easing (after the onset of the crisis)...

We investigate whether state-to-state political ties with a global superpower affects the pricing of international syndicated bank loans. We find statistically and economically significant effects of stronger state political ties with the United States, arguably the most dominant global...

This chapter reviews statutory and court sanctioned private regulatory frameworks affecting the creation of private equity (PE) funds and their primary activity of acquiring corporate enterprises. The chapter reviews U.S. legislation regulating securities, investment companies, and tender...

Diversification of financial activity involves the use of alternative income opportunities from various financial transactions - short-term investments, formation of the loan portfolio, portfolio of long-term investments, and the implementation of real investment. In today's highly integrated...

The global financial crisis triggered a vast number of new laws and regulations at international level, including initiatives that can be classified as "soft law". The legitimacy and efficacy of these new norms are subject to intensive academic and political debates. At the same time, soft law...

On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...