This working paper examines the ongoing regulation and the impact of open banking on payments, competition in the banking markets and financial inclusion. Open banking has been defined in several ways. For our purposes, we see it as a financial ecosystem which provides third-party financial...

This paper investigates the determinants of the pattern of banks' foreign investment using firm-level data on foreign subsidiaries for a representative sample of 260 large banks from the OECD countries. The empirical analysis shows that measures of the potential profit opportunities in the...

Guarantees have a primary role in debt contracts. They alter the risk for the lender, transform borrowers' incentives and, eventually, modify the equilibrium allocation of financial resources. This paper studies the role of guarantees on bank loans, using a sample of over 50,000 individual lines...

This paper investigates the relationship between secured lending and borrowers' riskiness. First it builds a theoretical model showing that banks may find optimal to cover higher credit risk by requiring a guarantee and simultaneously charging higher interest rates. Second, it finds empirical...

In recent years there has been a surge in mergers and aquisitions in all sectors of economic activity. Cross-border operations have followed this trend, creating global companies operating in all major world markets. In this paper we study the pattern of cross-border Mamp;As in the banking...