'Intra-firm borrowing' reduces liquidity risk at 'global' US banks, say NY Fed staff
NY Fed paper finds 'fundamental' differences between 'global and non-global' banks
‘Intra-firm borrowing' by US banks with foreign affiliates serves as a shock absorber of liquidity risk and affects lending patterns to domestic and foreign customers, according to a new Federal Reserve Bank of New York staff report.
"While the balance sheet structure of US banks influences how they respond to liquidity risks", there are "fundamental differences across banks without foreign affiliates versus those with foreign affiliates", Ricardo Correa, Linda Goldberg, and Tara Rice argue in L
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