European banks’ structure helps drive dollar-denominated debt issuance – paper
Paper examines dollar debt issuance by most prolific European issuers
Specific structural aspects of different European banks help drive their issuance of dollar-denominated debt, argues a working paper published by the Bank of Spain.
In The drivers of European banks' US dollar debt issuance: opportunistic funding in times of crisis?, Luna Azahara Romo González uses data covering the activities of the 59 most prolific issuers of dollar-denominated debt among European banks from 2005 to 2013.
The author finds European banks issue this debt to hedge their dollar
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