TY - BOOK ID - 85290784 TI - Foreign Currency Bank Funding and Global Factors AU - Krogstrup, Signe. AU - Tille, Cédric. PY - 2018 SN - 1484355547 1484355431 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Capital movements KW - Banks and banking, International KW - International banking KW - Offshore banking (Finance) KW - Transnational banking KW - Financial institutions, International KW - International finance KW - Capital flight KW - Capital flows KW - Capital inflow KW - Capital outflow KW - Flight of capital KW - Flow of capital KW - Movements of capital KW - Balance of payments KW - Foreign exchange KW - Econometric models. KW - Accounting KW - Banks and Banking KW - Exports and Imports KW - Money and Monetary Policy KW - Current Account Adjustment KW - Short-term Capital Movements KW - International Lending and Debt Problems KW - Financial Aspects of Economic Integration KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Public Administration KW - Public Sector Accounting and Audits KW - International Investment KW - Long-term Capital Movements KW - Financing Policy KW - Financial Risk and Risk Management KW - Capital and Ownership Structure KW - Value of Firms KW - Goodwill KW - Monetary economics KW - Banking KW - Financial reporting, financial statements KW - International economics KW - Financial services law & regulation KW - Currencies KW - Foreign currency exposure KW - Financial statements KW - Money KW - Public financial management (PFM) KW - Exchange rate risk KW - Financial regulation and supervision KW - Foreign exchange market KW - Banks and banking KW - Finance, Public KW - Financial risk management KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:85290784 AB - The literature on the drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial intermediaries’ funding flows in different currencies. A concise portfolio model shows that the sign and magnitude of the response of foreign currency funding flows to global risk factors depend on the financial intermediary’s pre-existing currency exposure. An analysis of a rich dataset of European banks’ aggregate balance sheets lends support to the model predictions, especially in countries outside the euro area. ER -