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Asian banks and the international interbank market

Author Info

Listed author(s):
  • 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.

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Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

Volume (Year): (2008)
Issue (Month): (June)
Pages:

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Handle: RePEc:bis:bisqtr:0806h
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Keywords:

Find related papers by 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

References listed on IDEAS
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  1. Naohiko Baba & Frank Packer & Teppei Nagano, 2008. "The spillover of money market turbulence to FX swap and cross-currency swap markets," BIS Quarterly Review, Bank for International Settlements, March.
  2. Philip TURNER, 2007. "Are Banking Systems in East Asia Stronger?," Asian Economic Policy Review, Japan Center for Economic Research, vol. 2(1), pages 75-95.
  3. Christian B. Mulder & Matthieu Bussière, 1999. "External Vulnerability in Emerging Market Economies; How High Liquidity Can Offset Weak Fundamentals and the Effects of Contagion," IMF Working Papers 99/88, International Monetary Fund.
  4. 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.
  5. Steven Radelet & Jeffrey D. Sachs, 1998. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 1-90.
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Cited by:

  1. 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.
  2. Bank for International Settlements, 2010. "The functioning and resilience of cross-border funding markets," CGFS Papers, Bank for International Settlements, number 37.
  3. 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.
  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, June.
  5. Mico Loretan & Philip Wooldridge, 2008. "The development of money markets in Asia," BIS Quarterly Review, Bank for International Settlements, September.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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.
  11. Robert N. McCauley, 2010. "Managing Recent Hot Money Inflows in Asia," Chapters,in: Managing Capital Flows, chapter 5 Edward Elgar Publishing.
  12. International Monetary Fund, 2011. "Impact of the Global Crisison Banking Sector Soundness in Asian Low-Income Countries," IMF Working Papers 11/115, International Monetary Fund.

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