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Global Banks, Local Branches, and Faraway Crises

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Abstract

In an article recently published in the Journal of International Economics, Horacio Sapriza of the Richmond Fed and Ricardo Correa and Andrei Zlate of the Fed Board of Governors suggested an alternative pathway for the spread of financial shocks. In particular, they used the case of the 2011 European debt crisis to show that local branches of global banks can also amplify shocks through pathways distinct from any effects stemming from their parent banks' capitalization levels.

Suggested Citation

  • Matthew Wells, 2022. "Global Banks, Local Branches, and Faraway Crises," Econ Focus, Federal Reserve Bank of Richmond, issue 1Q, pages 1-13.
    • Handle: RePEc:fip:fedrrf:94311
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