Foreign Banks and the Vienna Initiative [electronic resource] : Turning Sinners Into Saints? De Haas, Ralph.
- Washington, D.C. : International Monetary Fund, 2012.
- IMF eLibrary
IMF Working Papers; Working Paper No. 12/117.
IMF Working Papers; Working Paper No. 12/117
- Government document
1 online resource (41 p.)
- Local subjects:
- Bank branches.
Bank for international settlements.
Bank of england.
Bank of greece.
Banking sector stability.
Banks balance sheets.
Capital adequacy ratio.
European investment bank.
Financial Aspects of Economic Integration.
Global capital markets.
Global Financial Crisis. -- 2008-2009
International capital markets.
Local capital markets.
Models with Panel Data.
Net interest margin.
Other Depository Institutions.
Tier 1 capital.
- We use data on 1,294 banks in Central and Eastern Europe to analyze how bank ownership and creditor coordination in the form of the Vienna Initiative affected credit growth during the 2008–09 crisis. As part of the Vienna Initiative western European banks signed country-specific commitment letters in which they pledged to maintain exposures and to support their subsidiaries in Central and Eastern Europe. We show that both domestic and foreign banks sharply curtailed credit during the crisis, but that foreign banks that participated in the Vienna Initiative were relatively stable lenders. We find no evidence of negative spillovers from countries where banks signed commitment letters to countries where they did not.
- Description based on print version record.
- De Haas, Ralph.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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