Liquidity management of US global banks : Internal capital markets in the great recession

  title={Liquidity management of US global banks : Internal capital markets in the great recession},
  author={Nicola Cetorelli and Linda Goldberg},
The recent crisis highlighted the importance of globally active banks in linking markets. One channel for this linkage is the liquidity management of these banks, specifically the regular flow of funds between parent banks and their affiliates in diverse foreign markets. We use the Great Recession as an opportunity to identify the balance-sheet shocks to parent banks in the United States and then explore which features of foreign affiliates are associated with protecting, for example, their… CONTINUE READING
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