European Bank Deleveraging and Global Credit Conditions : Implications of a Multi-Year Process on Long-Term Finance and Beyond

This paper assesses European bank deleveraging and its impact on global credit conditions. Before the onset of the global financial crisis, European banks had rapidly expanded their foreign lending activities. However, European banks have since bee...

Full description

Bibliographic Details
Main Authors:	Feyen, Erik, González del Mazo, Inés
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCOUNTING ADVANCED ECONOMIES AFFILIATES AMOUNT OF CAPITAL APR ASSET DISPOSALS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET QUALITY ASSET SALES BALANCE SHEET BALANCE SHEETS BANK ACTIVITIES BANK ASSET BANK ASSET QUALITY BANK ASSETS BANK CREDIT BANK DEBT BANK FINANCING BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANK LOAN BANKING AUTHORITY BANKING CORPORATION BANKING SECTOR BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKING UNION BANKS BOND MARKETS BONDS BORROWING BUY BACK CAPITAL FLOWS CAPITAL GAIN CAPITAL MARKET CAPITAL MARKETS CAPITAL REQUIREMENTS CENTRAL BANKS COLLATERAL COLLATERAL REQUIREMENTS CONSUMER LENDING CORE DEPOSITS CREDIT AGENCY CREDIT CRUNCH CREDIT FLOWS CREDIT GROWTH CREDIT TERMS CROSS-BORDER FLOWS CURRENCY COMPOSITION DEBT DEBT CRISIS DEBT ISSUANCE DEBT MARKETS DEBT REDUCTION DEMAND FOR CREDIT DEPENDENT DEPOSIT DEPOSIT INSURANCE DEPOSITORY INSTITUTIONS DEPOSITS DEVELOPING COUNTRIES DISCRETIONARY POWERS DISINTERMEDIATION DIVIDENDS DOMESTIC CREDIT DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC GROWTH ECONOMIC POLICIES ECONOMICS EMERGING CREDIT EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EQUITY RATIO EUROPEAN CENTRAL BANK FINANCIAL CORPORATIONS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTABILITY FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL STRESS FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIERS FORBEARANCE FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CLAIMS FOREIGN EXCHANGE FUNDING SOURCE FUNDING SOURCES GLOBAL ECONOMY GLOBAL FINANCIAL STABILITY GOVERNMENT DEBT GROSS DOMESTIC PRODUCT HOME MARKETS HOST COUNTRIES HOST ECONOMIES HOUSEHOLDS INSOLVENCY INSOLVENCY RISKS INSTRUMENT INSURANCE INTEREST RATE INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL BANKS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INTEGRATION INTERNATIONAL FINANCIAL SYSTEM INVESTMENT BANKS INVESTMENT OPPORTUNITIES INVESTOR DEMAND KEY CHALLENGE LARGE FIRMS LENDER LENDERS LENDING CONDITIONS LEVERAGE LIABILITY LIABILITY SIDE LIQUID ASSETS LIQUIDITY LIQUIDITY POSITIONS LIQUIDITY SUPPORT LOAN LOAN MARKET LOAN MATURITIES LOAN PORTFOLIOS LOAN SIZE LOAN VOLUMES LOAN-TO-DEPOSIT RATIOS LOCAL CURRENCY LONG-TERM ASSETS LONG-TERM FINANCE LONG-TERM LENDING LONG-TERM LOAN LONG-TERM LOANS LOW INTEREST RATE MARKET CONDITIONS MARKET CONFIDENCE MARKET FINANCE MARKET RISK MARKET RISKS MARKET SHARE MARKET SHARES MATURITIES MATURITY MATURITY STRUCTURE MONETARY FUND MONEY MARKET MORTGAGE MORTGAGES POLICY RESPONSE PRIVATE CREDIT PRIVATE FUNDING PROFITABILITY PROJECT FINANCING PROVISION OF CREDIT RECAPITALIZATION RECIPIENT COUNTRIES REGULATORY FRAMEWORK REGULATORY REFORMS RESERVE RESERVE REQUIREMENTS RESERVES RETAINED EARNINGS RETURNS RISK MEASUREMENT RISK PREMIA SAFE ASSETS SECURITIES SHARE OF BANK ASSETS SOLVENCY SOVEREIGN BOND SOVEREIGN BOND MARKETS SOVEREIGN DEBT SOVEREIGN DEBT MARKETS SOVEREIGN RISKS SOVEREIGN YIELDS SUBSIDIARIES SUPPLY CHAIN SUPPLY OF CREDIT SWAP TANGIBLE ASSETS TAX TERM CREDIT TRADE FINANCE TRADE FINANCING TRADE FLOWS TRADING UNION UNSECURED DEBT VALUATIONS WARRANTS WHOLESALE FUNDING WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2013/03/17482975/european-bank-deleveraging-global-credit-conditions-implications-multi-year-process-long-term-finance-beyond http://hdl.handle.net/10986/13188