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Global Banks and Their Internal Capital Markets during the Crisis

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Abstract

As financial markets have become increasingly globalized, banks have developed growing networks of branches and subsidiaries in foreign countries. This expansion of banking across borders is changing the way banks manage their balance sheets, and the ways home markets and foreign markets respond to disturbances to financial markets. Based on our recent research, this post shows how global banks used their foreign affiliates for accessing scarce dollars during the financial crisis—a liquidity strategy that helped transmit shocks internationally while reducing some of the consequences in the stressed locations.

Suggested Citation

  • Nicola Cetorelli & Linda S. Goldberg, 2011. "Global Banks and Their Internal Capital Markets during the Crisis," Liberty Street Economics 20110711, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:86755
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    Cited by:

    1. Mark Choi & Linda S. Goldberg & Robert Lerman & Fabiola Ravazzolo, 2021. "COVID Response: The Fed’s Central Bank Swap Lines and FIMA Repo Facility," Staff Reports 983, Federal Reserve Bank of New York.
    2. Mark Choi & Linda S. Goldberg & Robert Lerman & Francesco Ravazzolo, 2022. "The Fed’s Central Bank Swap Lines and FIMA Repo Facility," Economic Policy Review, Federal Reserve Bank of New York, vol. 28(1), July.

    More about this item

    Keywords

    global banks; international; internal capital markets;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • G2 - Financial Economics - - Financial Institutions and Services

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