Multinational Banks and the Global Financial Crisis: Weathering the Perfect Storm?
研究了48家最大跨国银行集团的199家外国子公司在2008-09年大衰退期间的贷款行为，发现其信贷增速放缓速度几乎是国内银行的三倍，尤其是依赖批发融资的银行集团子公司。
We use data on the 48 largest multinational banking groups to compare the lending of their 199 foreign subsidiaries during the Great Recession with lending by a benchmark of 202 domestic banks. Contrary to earlier and more contained crises, parent banks were not a significant source of strength to their subsidiaries during 2008–09. When controlling for other bank characteristics, multinational bank subsidiaries had to slow down credit growth almost three times as fast as domestic banks. This was in particular the case for subsidiaries of banking groups that relied more on wholesale funding.