Verfügbarkeit: Financial Crises and the Composition of Cross-Border Lending

Financial Crises and the Composition of Cross-Border Lending:

We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period. Further...

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1. Verfasser:	Cerutti, Eugenio (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2014
Schriftenreihe:	IMF Working Papers Working Paper No. 14/185
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period. Furthermore, syndicated loan exposures increased during the global financial crisis due to large drawdowns on credit lines extended before the crisis. Our empirical analysis of the drivers of cross-border loan exposures in a large bilateral dataset shows three main results. First, banks with lower levels of capital favor syndicated over other kinds of cross-border loans. Second, borrower country characteristics such as level of development, economic size, and capital account openness, are less important in driving syndicated than non-syndicated loan activity, suggesting a diversification motive for syndication. Third, information asymmetries between lender and borrower countries, which are important both in normal and crisis times, became more binding for both types of cross-border lending activity during the recent crisis
Beschreibung:	1 Online-Ressource (59 p)
ISBN:	148436144X 9781484361443

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spelling	Cerutti, Eugenio Verfasser aut Financial Crises and the Composition of Cross-Border Lending Cerutti, Eugenio Washington, D.C International Monetary Fund 2014 1 Online-Ressource (59 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 14/185 We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period. Furthermore, syndicated loan exposures increased during the global financial crisis due to large drawdowns on credit lines extended before the crisis. Our empirical analysis of the drivers of cross-border loan exposures in a large bilateral dataset shows three main results. First, banks with lower levels of capital favor syndicated over other kinds of cross-border loans. Second, borrower country characteristics such as level of development, economic size, and capital account openness, are less important in driving syndicated than non-syndicated loan activity, suggesting a diversification motive for syndication. Third, information asymmetries between lender and borrower countries, which are important both in normal and crisis times, became more binding for both types of cross-border lending activity during the recent crisis Online-Ausg Hale, Galina Sonstige oth Minoiu, Camelia Sonstige oth http://elibrary.imf.org/view/IMF001/22099-9781484361443/22099-9781484361443/22099-9781484361443.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Cerutti, Eugenio Financial Crises and the Composition of Cross-Border Lending
title	Financial Crises and the Composition of Cross-Border Lending
title_auth	Financial Crises and the Composition of Cross-Border Lending
title_exact_search	Financial Crises and the Composition of Cross-Border Lending
title_exact_search_txtP	Financial Crises and the Composition of Cross-Border Lending
title_full	Financial Crises and the Composition of Cross-Border Lending Cerutti, Eugenio
title_fullStr	Financial Crises and the Composition of Cross-Border Lending Cerutti, Eugenio
title_full_unstemmed	Financial Crises and the Composition of Cross-Border Lending Cerutti, Eugenio
title_short	Financial Crises and the Composition of Cross-Border Lending
title_sort	financial crises and the composition of cross border lending
url	http://elibrary.imf.org/view/IMF001/22099-9781484361443/22099-9781484361443/22099-9781484361443.xml
work_keys_str_mv	AT ceruttieugenio financialcrisesandthecompositionofcrossborderlending AT halegalina financialcrisesandthecompositionofcrossborderlending AT minoiucamelia financialcrisesandthecompositionofcrossborderlending

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