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U.S. bank exposure to emerging-market countries during recent financial crises

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  • David E. Palmer
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    Abstract

    Global financial markets have experienced significant volatility in recent years, including financial crises in Asia in 1997 and in Russia in 1998. Emerging-market countries, in particular, were subject to sharp downward market moves. U.S. banking supervisors monitored these events carefully to determine the potential effect on U.S. banking organizations and paid particular attention to U.S. bank claims on emerging-market counterparties. Monitoring claims on emerging-market counterparties allows supervisors to identify any developing concentrations of risk that might warrant supervisory action and, if necessary, to assess the effect that a potential emerging-market crisis might have on U.S. banks. This article focuses on the claims U.S. banks held on emerging-market counterparties during the two-year period from June 1997 to June 1999 and discusses the different ways that emerging-market claims can be analyzed. In addition, the article provides a short analysis of the claims held by other developed-country banks on emerging-market countries to show the relative size of U.S. bank claims. Finally, the data from the 1997-99 period are discussed in the broader historical context of U.S. banks' country exposure dating back to 1982.

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    File URL: http://www.federalreserve.gov/pubs/bulletin/2000/0200lead.pdf
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    Bibliographic Info

    Article provided by Board of Governors of the Federal Reserve System (U.S.) in its journal Federal Reserve Bulletin.

    Volume (Year): (2000)
    Issue (Month): Feb ()
    Pages: 81-96

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    Handle: RePEc:fip:fedgrb:y:2000:i:feb:p:81-96:n:v.86no.2

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    Keywords: Developing countries ; Financial crises - Asia ; Financial crises - Russia;

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    Cited by:
    1. Linda S. Goldberg, 2001. "When is U.S. bank lending to emerging markets volatile?," Staff Reports 119, Federal Reserve Bank of New York.
    2. Eric Santor, 2007. "Contagion and the composition of Canadian banks' foreign asset portfolios: do financial crises matter?," CGFS Papers chapters, in: Bank for International Settlements (ed.), Research on global financial stability: the use of BIS international financial statistics, volume 29, pages 32-52 Bank for International Settlements.
    3. Nicola Cetorelli & Linda Goldberg, 2006. "Risks in U.S. bank international exposures," Staff Reports 240, Federal Reserve Bank of New York.
    4. Alicia Garcia-Herrero & Maria Soledad Martinez Peria, 2005. "The mix of international bank\'s foreign claims: Determinants and implications," Working Papers 0502, BBVA Bank, Economic Research Department.
    5. Valev, Neven T., 2007. "Uncertainty and international debt maturity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 17(4), pages 372-386, October.
    6. Valev, Neven T., 2006. "Institutional uncertainty and the maturity of international loans," Journal of International Money and Finance, Elsevier, vol. 25(5), pages 780-794, August.
    7. Hao Fang & Yang-Cheng Lu & Chi-Wei Su, 2013. "Impact of the Subprime Crisis on Commercial Banks’ Financial Performance," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(5), pages 593-614, September.

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