This paper examines the association between the default risk of foreign bank subsidiaries and their parents during the global financial crisis, with the purpose of understanding what factors can help insulate affiliates from their parents. The paper finds evidence of a significant positive correlation between parent banks' and foreign subsidiaries' default risk. This correlation is lower for subsidiaries that have higher capital, retail deposit funding...
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2014/10/01
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Documento de trabalho sobre pesquisa de políticas
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WPS7053
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1
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1
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2014/10/01
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Disclosed
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Foreign bank subsidiaries' default risk during the global crisis : what factors help insulate affiliates from their parents ?
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Finance & Private Sector Development
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