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Cross-border banking in the EU since the crisis: What is driving the great retrenchment?
Review of World Economics ( IF 1.681 ) Pub Date : 2019-02-04 , DOI: 10.1007/s10290-019-00342-5
Lorenz Emter , Martin Schmitz , Marcel Tirpák

This paper examines the drivers of the retrenchment in cross-border banking in the European Union (EU) since the global financial crisis, which stands out in international comparison as banks located in the euro area and in the rest of the EU reduced their cross-border claims by around 25%. Particularly striking is the sharp and sustained reduction in intra-EU claims, especially in the form of deleveraging from cross-border interbank loans. Examining a wide range of possible determinants, we identify high non-performing loans as an important impediment to cross-border lending after the crisis, highlighting the spillovers from national banking sector conditions across the EU. We also find evidence that prudential policies can entail spillovers via cross-border banking in the EU, albeit with heterogeneity across instruments in terms of direction, magnitude and significance. Our results do not point to a major role of newly introduced bank levies in explaining cross-border banking developments.

中文翻译:

自危机以来,欧盟的跨境银行业务:是什么导致大幅裁员?

本文研究了自全球金融危机以来欧盟(EU)跨境银行业务缩减的驱动力,在国际比较中这一点很突出,因为位于欧元区和欧盟其他地区的银行减少了跨境银行业务边境索赔约25%。尤为引人注目的是欧盟内部债权的大幅减少和持续减少,尤其是以跨境银行间贷款的去杠杆化形式。通过检查各种可能的决定因素,我们发现不良贷款高是危机后跨境贷款的重要障碍,并着重指出了欧盟国家银行业状况的溢出效应。我们还发现有证据表明,尽管政策的方向不同,审慎政策可能会通过欧盟的跨境银行业务产生溢出效应,大小和意义。我们的结果并未指出新近引入的银行税在解释跨境银行业务发展中的主要作用。
更新日期:2019-02-04
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