Bank Deleveraging : Causes, Channels, and Consequences for Emerging Market and Developing Countries

Just before the 2008-09 global financial crisis, policymakers were concerned about the rapid growth of bank credit, particularly in Europe; now worry centers on a potential global credit crunch led by European banking institutions. Overall, credit conditions across Europe deteriorated markedly in la...

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Bibliographic Details
Main Authors:	Feyen, Erik, Kibuuka, Katie, Ötker-Robe, İnci
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO MARKET ACCOUNTING ADVANCED ECONOMIES AFFILIATE AFFILIATES ASSET MANAGEMENT ASSET MANAGERS ASSET SALES ASSET VALUES ASSET-LIABILITY MANAGEMENT BAILOUT BALANCE SHEET BALANCE SHEETS BANK ASSETS BANK BALANCE SHEETS BANK BEHAVIOR BANK BRANCHES BANK CREDIT BANK DEPOSITS BANK EQUITIES BANK EXPOSURE BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANK LIQUIDITY BANK LOANS BANKING CRISES BANKING CRISIS BANKING INSTITUTIONS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BIASES BID BOARDS OF DIRECTORS BOND ISSUANCE BOND MARKET BOND MARKETS BOND SPREADS BOND YIELDS BONDHOLDERS BORROWER BORROWING BORROWING COSTS BUSINESS PLANNING BUSINESS STRATEGIES CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAIN CAPITAL MARKETS CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CAPITAL SHORTAGE CAPITALIZATION CDS CENTRAL BANKS COLLATERAL COLLATERAL REQUIREMENTS CONSOLIDATION CONVERTIBLE BONDS CREDIBILITY CREDIT CRUNCH CREDIT EXTENSION CREDIT GROWTH CREDIT LINE CREDIT NEEDS CREDIT RATING CREDIT RATINGS CREDIT RISKS CREDITOR CREDITORS CROSS-BORDER FLOWS DEBT DEBT CRISIS DEBT HOLDINGS DEBT RESTRUCTURING DEBTOR DEPOSIT DEPOSITS DEVELOPING COUNTRIES DISINTERMEDIATION DISTRESSED BANKS ECONOMIC ACTIVITY ECONOMIC AGENTS ECONOMIC GROWTH EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EMPLOYMENT EQUITIES EQUITY CAPITAL EQUITY RATIO EUROPEAN CENTRAL BANK EXTERNAL FINANCE FINANCIAL ASSISTANCE FINANCIAL CRISIS FINANCIAL DIFFICULTIES FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL SECTOR REFORMS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN BANKS FUNDING SOURCES GLOBAL FINANCIAL STABILITY GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT SECURITIES HEDGE FUNDS HOLDING HOLDINGS HOST COUNTRIES HOST COUNTRY HOST ECONOMIES HOUSEHOLDS INDEBTEDNESS INFLATION INFORMATION SHARING INFRASTRUCTURE FINANCE INSTRUMENT INSURANCE INTERBANK MARKETS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL STATISTICS INVESTING INVESTMENT BANK INVESTMENT BANKING INVESTOR INTEREST ISLAMIC BONDS LACK OF INFORMATION LEGISLATION LENDER LENDERS LENDING CONDITION LENDING CONDITIONS LIABILITY LIABILITY MANAGEMENT LIMITED ACCESS LIQUIDITY POSITION LOAN LOAN COMMITMENTS LOAN DEMAND LOAN FACILITY LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL CURRENCIES LOW INTEREST RATE MARKET CONDITIONS MARKET CONFIDENCE MARKET LENDING MARKET PRICES MARKET SHARE MATURITIES MATURITY MFIS MONETARY FUND MONEY MARKET MORAL HAZARD MORTGAGES NEW BUSINESS NONBANK INSTITUTIONS NONPERFORMING LOANS OVERDRAFTS PAR VALUES PRIVATE BANKS PRIVATE CREDIT PRIVATE EQUITY PRODUCTIVITY PROFITABILITY PROVISION OF CREDIT REAL ESTATE REAL SECTOR RECAPITALIZATION RECESSION REGIONAL CREDIT REGULATORY APPROACHES REGULATORY AUTHORITIES RELIANCE ON BOND REPOS RESERVE RESERVE REQUIREMENTS RESERVES RETAIL BANKING RETAIL BANKS RETAINED EARNINGS RETURN RETURN ON EQUITY RISK AVERSION RISK MANAGEMENT SALES OF ASSETS SAVINGS SAVINGS BANK SECONDARY MARKETS SELF- FINANCING SMALL BANKS SOLVENCY SOURCES OF FUNDS SOVEREIGN BOND SOVEREIGN BOND MARKETS SOVEREIGN BONDS SOVEREIGN DEBT SOVEREIGN DEBT MARKETS SOVEREIGN RISKS SOVEREIGN YIELD START-UP STATE SUPPORT STOCK MARKET STOCK MARKET INDEXES SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITIES SWAP SYSTEMIC RISK TIER 1 CAPITAL TOTAL DEBT TRADE FINANCE TRADE FINANCING TRADING TREATY UNION UNIVERSAL BANKS VALUATION WHOLESALE FUNDING WITHDRAWAL YIELD CURVES
Online Access:	http://documents.worldbank.org/curated/en/2012/06/16364130/bank-deleveraging-causes-channels-consequences-emerging-market-developing-countries http://hdl.handle.net/10986/9317