Foreign currency bank funding and global factors /

Foreign currency bank funding and global factors /

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Bibliographic Details
Author / Creator:	Krogstrup, Signe, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, [2018] ©2018
Description:	1 online resource (65 pages)
Language:	English
Series:	IMF Working Paper ; WP/18/97 IMF working paper ; WP/18/97.
Subject:	Capital movements -- Econometric models. Banks and banking, International -- Econometric models. Banks and banking, International -- Econometric models. Capital movements -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12507906

Hidden Bibliographic Details
Other authors / contributors:	Tille, Cédric, 1970- author.
ISBN:	9781484355541 1484355547 1484353668 9781484353660 9781484353660
Notes:	Print version record.
Summary:	The literature on the drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial intermediaries' funding flows in different currencies. A concise portfolio model shows that the sign and magnitude of the response of foreign currency funding flows to global risk factors depend on the financial intermediary's pre-existing currency exposure. An analysis of a rich dataset of European banks' aggregate balance sheets lends support to the model predictions, especially in countries outside the euro area.
Other form:	Print version: Krogstrup, Signe. Foreign Currency Bank Funding and Global Factors. Washington, D.C. : International Monetary Fund, ©2018 9781484353660
Standard no.:	10.5089/9781484353660.001

Description
Summary:	The literature on the drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial intermediaries' funding flows in different currencies. A concise portfolio model shows that the sign and magnitude of the response of foreign currency funding flows to global risk factors depend on the financial intermediary's pre-existing currency exposure. An analysis of a rich dataset of European banks' aggregate balance sheets lends support to the model predictions, especially in countries outside the euro area.
Physical Description:	1 online resource (65 pages)
ISBN:	9781484355541 1484355547 1484353668 9781484353660