Banking Globalization and Monetary Transmission

@inproceedings{Cetorelli2012BankingGA,
  title={Banking Globalization and Monetary Transmission},
  author={Nicola Cetorelli and Linda S. Goldberg},
  year={2012}
}
The globalization of banking in the United States is influencing the monetary transmission mechanism both domestically and in foreign markets. Using quarterly information from all U.S. banks filing call reports between 1980 and 2006, we show that globalized banks activate internal capital markets with their overseas affiliates to insulate themselves partially from changes in domestic liquidity conditions. The existence of these internal capital markets directly contributes to an international… CONTINUE READING
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