International Banking and Cross-Border Effects of Regulation: Lessons from the United Kingdom
研究英国银行在国外的审慎监管行动是否影响其国内贷款，以及外国银行母国政策变化对其英国贷款的影响，发现整体溢出效应不显著，但存在部门差异。
This paper examines whether U.K.-owned banks’ domestic lending is affected by prudential actions in other countries where the banks have exposures. We also examine the impact of a change in prudential policy in a foreign-owned U.K.- resident bank’s home jurisdiction on its lending to the United Kingdom. Our results suggest that prudential actions taken abroad do not have significant spillover effects on bank lending in the U.K. economy as a whole. But there are more disaggregated sectoral effects: for instance, when a foreign authority tightens loan-to-value standards, U.K. affiliates of banks owned from that country expand their lending to U.K. households.