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Asian banks and the international interbank market

Author

Listed:
  • Robert N McCauley
  • Jenz Zukunft

Abstract

Banks in the Asian economies most affected by the Asian financial crisis generally continue to enjoy comfortable liquidity in the international interbank market. The apparent international illiquidity of banks in Korea is concentrated in foreign banks. Foreign banks’ offshore funding of local currency assets may in places have created a new vulnerability of local markets and banks to global bank liquidity crunches.

Suggested Citation

  • Robert N McCauley & Jenz Zukunft, 2008. "Asian banks and the international interbank market," BIS Quarterly Review, Bank for International Settlements, June.
    • Handle: RePEc:bis:bisqtr:0806h
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    References listed on IDEAS

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    6. Yoon Je Cho & Robert N McCauley, 2003. "Liberalising the capital account without losing balance: lessons from Korea," BIS Papers chapters, in: Bank for International Settlements (ed.), China's capital account liberalisation: international perspective, volume 15, pages 75-92, Bank for International Settlements.
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    Cited by:

    1. Jonathan Batten & Peter Szilagyi, 2011. "The Recent Internationalization of Japanese Banks," Japanese Economy, Taylor & Francis Journals, vol. 38(1), pages 81-120.
    2. Annina Kaltenbrunner & Photis Lysandrou, 2017. "The US Dollar's Continuing Hegemony as an International Currency: A Double-matrix Analysis," Development and Change, International Institute of Social Studies, vol. 48(4), pages 663-691, July.
    3. Flora Lutz & Leopold Zessner-Spitzenberg, 2019. "Sudden Stops and Reserve Accumulation in the Presence of International Liquidity Risk," Vienna Economics Papers vie1907, University of Vienna, Department of Economics.
    4. Ji Wu & Hosung Lim & Bang Nam Jeon, 2016. "The Impact of Foreign Banks on Monetary Policy Transmission During the Global Financial Crisis of 2008–2009: Evidence from Korea," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(7), pages 1574-1586, July.
    5. Flora Lutz & Leopold Zessner-Spitzenberg, 2019. "Sudden Stops and Reserve Accumulation in the Presence of International Liquidity Risk," Vienna Economics Papers 1907, University of Vienna, Department of Economics.
    6. Cathy Yi-Hsuan Chen & Wolfgang Karl Härdle & Yarema Okhrin, 2017. "Tail event driven networks of SIFIs," SFB 649 Discussion Papers SFB649DP2017-004, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    7. Bank for International Settlements, 2010. "The functioning and resilience of cross-border funding markets," CGFS Papers, Bank for International Settlements, number 37, december.
    8. Prof. Marin Oprițescu Ph. D, Assist. Alina Manta Ph. D, 2011. "New Trends In Banking Due To The International Financial Crisis," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 4(39), pages 229-242, May.
    9. Marin Opriţescu & Alina Manta, 2010. "New Trends In Banking Due To The International Financial Crisis," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 3(38), pages 527-541, May.
    10. Jeon, Bang Nam & Wu, Ji, 2014. "The role of foreign banks in monetary policy transmission: Evidence from Asia during the crisis of 2008–9," Pacific-Basin Finance Journal, Elsevier, vol. 29(C), pages 96-120.
    11. McCauley, Robert & McGuire, Patrick & von Peter, Goetz, 2012. "After the global financial crisis: From international to multinational banking?," Journal of Economics and Business, Elsevier, vol. 64(1), pages 7-23.
    12. Dong He & Robert N McCauley, 2013. "Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit," Working Papers 152013, Hong Kong Institute for Monetary Research.
    13. Robert McCauley & Patrick McGuire & Goetz von Peter, 2010. "The architecture of global banking: from international to multinational?," BIS Quarterly Review, Bank for International Settlements, March.
    14. International Monetary Fund, 2011. "Impact of the Global Crisison Banking Sector Soundness in Asian Low-Income Countries," IMF Working Papers 2011/115, International Monetary Fund.
    15. Hyeyoon Jung, 2021. "Real Consequences of Shocks to Intermediaries Supplying Corporate Hedging Instruments," Staff Reports 989, Federal Reserve Bank of New York.
    16. Mico Loretan & Philip Wooldridge, 2008. "The development of money markets in Asia," BIS Quarterly Review, Bank for International Settlements, September.
    17. Robert N. McCauley, 2010. "Managing Recent Hot Money Inflows in Asia," Chapters, in: Masahiro Kawai & Mario B. Lamberte (ed.), Managing Capital Flows, chapter 5, Edward Elgar Publishing.

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    More about this item

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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